Deutsche Bank AG Sells 14,703 Shares of BrightSpring Health Services, Inc. $BTSG

Key Points

• Deutsche Bank AG reduced its stake in BrightSpring Health Services by 25.5%, now holding 43,010 shares valued at $778,000.
• BrightSpring Health Services reported a 15.3% increase in quarterly revenue compared to the previous year, reaching $3.15 billion and exceeding analysts' expectations.
• Insider selling has been significant, with major shareholder Phoenix Aggregator L.P. Kkr selling over 13 million shares in June, resulting in a 14.29% decrease in their ownership.

Deutsche Bank AG lessened its holdings in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 25.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,010 shares of the company's stock after selling 14,703 shares during the period. Deutsche Bank AG's holdings in BrightSpring Health Services were worth $778,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in BrightSpring Health Services by 2,526.5% in the 1st quarter. GAMMA Investing LLC now owns 14,472 shares of the company's stock valued at $262,000 after purchasing an additional 13,921 shares during the period. New York State Common Retirement Fund boosted its position in shares of BrightSpring Health Services by 131.8% in the first quarter. New York State Common Retirement Fund now owns 37,918 shares of the company's stock valued at $686,000 after acquiring an additional 21,563 shares during the period. Teacher Retirement System of Texas boosted its position in shares of BrightSpring Health Services by 6.8% in the first quarter. Teacher Retirement System of Texas now owns 14,650 shares of the company's stock valued at $265,000 after acquiring an additional 932 shares during the period. Rhumbline Advisers boosted its position in shares of BrightSpring Health Services by 4.8% in the first quarter. Rhumbline Advisers now owns 77,100 shares of the company's stock valued at $1,395,000 after acquiring an additional 3,517 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in shares of BrightSpring Health Services in the first quarter valued at about $561,000.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen cut shares of BrightSpring Health Services from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. Cowen reissued a "buy" rating on shares of BrightSpring Health Services in a research report on Monday, August 4th. TD Cowen began coverage on shares of BrightSpring Health Services in a research report on Monday, June 23rd. They issued a "buy" rating and a $37.00 target price for the company. Wells Fargo & Company raised their price objective on BrightSpring Health Services from $25.00 to $27.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 13th. Finally, Morgan Stanley raised their price objective on BrightSpring Health Services from $20.00 to $25.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Ten research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $25.67.

BrightSpring Health Services Price Performance

NASDAQ BTSG traded down $0.04 on Friday, hitting $23.69. 1,335,712 shares of the company's stock were exchanged, compared to its average volume of 2,057,994. The stock has a 50-day moving average of $21.71 and a 200-day moving average of $20.55. The company has a current ratio of 1.76, a quick ratio of 1.34 and a debt-to-equity ratio of 1.43. BrightSpring Health Services, Inc. has a 52 week low of $12.35 and a 52 week high of $25.57. The stock has a market cap of $4.20 billion, a price-to-earnings ratio of 76.42 and a beta of 2.25.

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

Insider Buying and Selling at BrightSpring Health Services

In other news, insider Jon B. Rousseau sold 531,840 shares of the company's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $21.75, for a total value of $11,567,520.00. Following the sale, the insider directly owned 1,184,133 shares of the company's stock, valued at approximately $25,754,892.75. This represents a 30.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Phoenix Aggregator L.P. Kkr sold 13,288,101 shares of BrightSpring Health Services stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $21.15, for a total transaction of $281,043,336.15. Following the completion of the sale, the insider owned 79,671,883 shares of the company's stock, valued at $1,685,060,325.45. This represents a 14.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,919,941 shares of company stock valued at $337,025,856 in the last ninety days. Insiders own 3.40% of the company's stock.

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.