Cannon Global Investment Management LLC Invests $389,000 in BrightSpring Health Services, Inc. $BTSG

Key Points

• Cannon Global Investment Management LLC has invested approximately $389,000 in BrightSpring Health Services, acquiring 16,500 shares of the company's stock.
• BrightSpring Health Services reported a 15.3% year-over-year increase in quarterly revenue, totaling $3.15 billion, and earnings per share (EPS) of $0.22, exceeding analysts' estimates.
• Analysts have raised their price targets for BrightSpring Health Services, with Mizuho setting a new target at $32.00 and Wells Fargo raising it to $33.00, indicating a strong market interest in the stock.

Cannon Global Investment Management LLC bought a new position in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 16,500 shares of the company's stock, valued at approximately $389,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Allianz Asset Management GmbH purchased a new stake in shares of BrightSpring Health Services during the second quarter worth about $3,003,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of BrightSpring Health Services during the second quarter worth about $756,000. KLP Kapitalforvaltning AS increased its position in shares of BrightSpring Health Services by 19.8% during the second quarter. KLP Kapitalforvaltning AS now owns 14,500 shares of the company's stock worth $342,000 after acquiring an additional 2,400 shares during the last quarter. Hennessy Advisors Inc. purchased a new stake in shares of BrightSpring Health Services during the second quarter worth about $13,701,000. Finally, Voya Investment Management LLC increased its position in shares of BrightSpring Health Services by 9.0% during the first quarter. Voya Investment Management LLC now owns 199,711 shares of the company's stock worth $3,613,000 after acquiring an additional 16,434 shares during the last quarter.

BrightSpring Health Services Stock Performance

Shares of BTSG stock opened at $29.73 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.76 and a debt-to-equity ratio of 1.43. The business has a 50 day moving average of $26.25 and a two-hundred day moving average of $22.66. BrightSpring Health Services, Inc. has a 52 week low of $14.73 and a 52 week high of $31.95. The company has a market cap of $5.27 billion, a P/E ratio of 95.91, a PEG ratio of 0.49 and a beta of 2.40.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last issued its earnings results on Friday, August 1st. The company reported $0.22 EPS for the quarter, beating analysts' consensus estimates of $0.19 by $0.03. BrightSpring Health Services had a return on equity of 9.29% and a net margin of 0.55%.The company had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same period in the previous year, the firm posted $0.10 earnings per share. BrightSpring Health Services's quarterly revenue was up 15.3% compared to the same quarter last year. BrightSpring Health Services has set its FY 2025 guidance at EPS. As a group, analysts anticipate that BrightSpring Health Services, Inc. will post 0.59 EPS for the current year.

Analysts Set New Price Targets

BTSG has been the topic of a number of analyst reports. Mizuho lifted their target price on BrightSpring Health Services from $26.00 to $32.00 and gave the stock an "outperform" rating in a research report on Friday. Wells Fargo & Company lifted their price target on BrightSpring Health Services from $27.00 to $33.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 7th. TD Cowen assumed coverage on BrightSpring Health Services in a research note on Monday, June 23rd. They issued a "buy" rating and a $37.00 price target for the company. Deutsche Bank Aktiengesellschaft set a $30.00 price target on BrightSpring Health Services and gave the stock a "buy" rating in a research note on Monday, September 8th. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of BrightSpring Health Services in a research note on Wednesday, October 8th. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $32.13.

About BrightSpring Health Services

BrightSpring Health Services, Inc operates a home and community-based healthcare services platform in the United States. The company's platform focuses on delivering pharmacy and provider services, including clinical and supportive care in home and community settings to Medicare, Medicaid, and insured populations.

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