Brown Advisory Inc. Buys 1,229,113 Shares of BrightSpring Health Services, Inc. $BTSG

Key Points

• Brown Advisory Inc. sharply increased its BrightSpring Health Services stake by 170.6% in the fourth quarter, buying 1,229,113 additional shares and ending with 1,949,402 shares worth about $73 million.
• BrightSpring posted strong quarterly results, with EPS of $0.39 versus estimates of $0.29 and revenue of $3.61 billion versus $3.39 billion expected. Revenue rose 25.6% year over year.
• Analyst sentiment remains positive, with the stock carrying a consensus “Buy” rating and an average price target of $58.53, while multiple firms recently raised their targets. However, insiders Lisa A. Nalley and Jon B. Rousseau also sold shares in June.

Brown Advisory Inc. lifted its stake in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 170.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,949,402 shares of the company's stock after purchasing an additional 1,229,113 shares during the period. Brown Advisory Inc. owned 1.08% of BrightSpring Health Services worth $73,005,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in BrightSpring Health Services by 6.4% during the third quarter. Vanguard Group Inc. now owns 9,604,703 shares of the company's stock worth $283,915,000 after purchasing an additional 576,906 shares during the period. 8 Knots Management LLC bought a new position in BrightSpring Health Services during the third quarter worth about $51,244,000. Victory Capital Management Inc. grew its holdings in BrightSpring Health Services by 551.3% during the third quarter. Victory Capital Management Inc. now owns 726,878 shares of the company's stock worth $21,487,000 after purchasing an additional 615,280 shares during the period. Iron Triangle Partners LP grew its holdings in BrightSpring Health Services by 3.2% during the third quarter. Iron Triangle Partners LP now owns 1,238,520 shares of the company's stock worth $36,611,000 after purchasing an additional 38,520 shares during the period. Finally, SG Americas Securities LLC grew its holdings in BrightSpring Health Services by 1,221.9% during the fourth quarter. SG Americas Securities LLC now owns 183,103 shares of the company's stock worth $6,857,000 after purchasing an additional 169,251 shares during the period.

BrightSpring Health Services Stock Performance

Shares of BTSG stock opened at $63.23 on Monday. The firm has a 50 day moving average price of $53.17 and a two-hundred day moving average price of $44.06. The company has a quick ratio of 1.38, a current ratio of 1.74 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $12.47 billion, a PE ratio of 44.84, a price-to-earnings-growth ratio of 0.82 and a beta of 1.87. BrightSpring Health Services, Inc. has a 12-month low of $19.01 and a 12-month high of $64.18.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last posted its earnings results on Friday, May 1st. The company reported $0.39 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.10. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.39 billion. BrightSpring Health Services had a return on equity of 14.63% and a net margin of 2.27%.The company's revenue was up 25.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.14 earnings per share. As a group, analysts predict that BrightSpring Health Services, Inc. will post 1.67 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. UBS Group lifted their price target on BrightSpring Health Services from $53.00 to $55.00 and gave the stock a "buy" rating in a report on Wednesday, March 18th. BMO Capital Markets set a $70.00 price target on BrightSpring Health Services in a report on Thursday, May 21st. TD Cowen lifted their price target on BrightSpring Health Services from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Monday, May 4th. KeyCorp lifted their price target on BrightSpring Health Services from $55.00 to $60.00 and gave the stock an "overweight" rating in a report on Monday, May 4th. Finally, Cantor Fitzgerald set a $49.00 price target on BrightSpring Health Services in a report on Monday, March 2nd. Two research analysts have rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $58.53.

Insider Transactions at BrightSpring Health Services

In other news, insider Lisa A. Nalley sold 35,000 shares of the business's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $58.75, for a total value of $2,056,250.00. Following the completion of the sale, the insider owned 131,948 shares of the company's stock, valued at approximately $7,751,945. The trade was a 20.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jon B. Rousseau sold 130,000 shares of the business's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $58.75, for a total transaction of $7,637,500.00. Following the completion of the sale, the insider directly owned 1,194,503 shares of the company's stock, valued at approximately $70,177,051.25. The trade was a 9.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 2.80% of the company's stock.

BrightSpring Health Services Profile

BrightSpring Health Services NASDAQ: BTSG is a leading provider of home and community-based care and workforce solutions aimed at seniors, individuals with disabilities and those facing behavioral health challenges. The company's operations encompass a broad spectrum of services, including personal care, skilled nursing, therapy, habilitation and supported living, as well as specialized behavioral health programs delivered through both clinical and non-clinical channels.

Through its network of subsidiary brands, BrightSpring offers integrated care in the patient's home environment, fostering independence and improving quality of life.

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