Cantor Fitzgerald Investment Advisors L.P. Makes New $1.74 Million Investment in BrightSpring Health Services, Inc. $BTSG

Key Points

• Cantor Fitzgerald Investment Advisors acquired 30,630 BrightSpring Health Services shares worth approximately $1.74 million in the third quarter, joining several other institutional investors that recently increased or initiated positions.
• BrightSpring reported quarterly earnings of $0.45 per share, beating estimates by $0.05, while revenue rose 23% year over year to $3.87 billion and exceeded expectations.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and a $72.88 average price target versus the stock’s reported $60.86 price, although Weiss Ratings downgraded the shares to “hold.”

Cantor Fitzgerald Investment Advisors L.P. acquired a new position in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,630 shares of the company's stock, valued at approximately $1,738,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. TD Waterhouse Canada Inc. bought a new position in shares of BrightSpring Health Services in the second quarter valued at approximately $22,054,000. Bank of America Corp DE increased its position in shares of BrightSpring Health Services by 48.7% during the first quarter. Bank of America Corp DE now owns 1,534,154 shares of the company's stock valued at $65,370,000 after acquiring an additional 502,786 shares during the last quarter. Ausbil Investment Management Ltd purchased a new stake in shares of BrightSpring Health Services during the second quarter valued at approximately $2,005,000. Wealthstar Advisors LLC purchased a new stake in shares of BrightSpring Health Services during the first quarter valued at approximately $1,525,000. Finally, Bellars Harris Wealth Management LLC bought a new stake in BrightSpring Health Services during the second quarter worth $4,394,000.

BrightSpring Health Services Stock Performance

NASDAQ BTSG opened at $60.86 on Friday. The company's 50 day simple moving average is $59.88 and its two-hundred day simple moving average is $60.07. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.59 and a quick ratio of 1.22. BrightSpring Health Services, Inc. has a 1 year low of $30.64 and a 1 year high of $73.75. The stock has a market capitalization of $12.04 billion, a PE ratio of 36.66, a P/E/G ratio of 0.81 and a beta of 1.87.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.05. The firm had revenue of $3.87 billion for the quarter, compared to analysts' expectations of $3.66 billion. BrightSpring Health Services had a return on equity of 16.73% and a net margin of 2.55%. The company's revenue was up 23.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.22 EPS. Analysts predict that BrightSpring Health Services, Inc. will post 1.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on BTSG shares. BTIG Research restated a "buy" rating and set a $90.00 price target on shares of BrightSpring Health Services in a research report on Thursday, August 13th. BMO Capital Markets reaffirmed an "outperform" rating on shares of BrightSpring Health Services in a research report on Friday, October 2nd. UBS Group boosted their target price on shares of BrightSpring Health Services from $63.00 to $85.00 and gave the company a "buy" rating in a research note on Wednesday, July 8th. Bank of America boosted their target price on shares of BrightSpring Health Services from $66.00 to $77.00 and gave the company a "buy" rating in a research note on Thursday, July 2nd. Finally, Weiss Ratings downgraded shares of BrightSpring Health Services from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, BrightSpring Health Services currently has an average rating of "Moderate Buy" and a consensus target price of $72.88.

BrightSpring Health Services Company Profile

BrightSpring Health Services NASDAQ: BTSG is a Louisville, Kentucky-based provider of home- and community-based health services and pharmacy services. The company focuses on supporting individuals with complex or chronic care needs, including older adults and people with disabilities, through care delivered in homes, communities and other non-hospital settings.

Its services include home health, hospice, personal care, behavioral health, primary care, rehabilitation and community living programs.

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