Empowered Funds LLC Buys New Holdings in BrightSpring Health Services, Inc. $BTSG

Key Points

• Empowered Funds LLC acquired 125,842 BrightSpring shares worth approximately $8.8 million, representing about 0.06% of the company. Several other institutional investors also initiated positions.
• Analyst sentiment remains positive, with a consensus “Buy” rating and average price target of $70.71; UBS and Wells Fargo recently raised their targets to $85 and $78, respectively.
• BrightSpring exceeded quarterly expectations, reporting $0.45 in EPS versus $0.40 estimated and $3.87 billion in revenue, up 23% year over year. However, insiders sold a combined 165,000 shares in June.

Empowered Funds LLC acquired a new stake in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 125,842 shares of the company's stock, valued at approximately $8,776,000. Empowered Funds LLC owned about 0.06% of BrightSpring Health Services at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of BTSG. Allworth Financial LP purchased a new stake in BrightSpring Health Services during the second quarter worth about $28,000. GHP Investment Advisors Inc. bought a new position in shares of BrightSpring Health Services during the 1st quarter valued at about $31,000. EverSource Wealth Advisors LLC bought a new position in BrightSpring Health Services in the second quarter worth about $43,000. Kilter Group LLC bought a new position in BrightSpring Health Services during the 2nd quarter valued at approximately $50,000. Finally, Meeder Asset Management Inc. bought a new stake in BrightSpring Health Services during the 1st quarter valued at about $52,000.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on BTSG shares. BMO Capital Markets set a $70.00 price target on shares of BrightSpring Health Services in a report on Thursday, May 21st. UBS Group lifted their target price on BrightSpring Health Services from $63.00 to $85.00 and gave the stock a "buy" rating in a report on Wednesday, July 8th. Wall Street Zen lowered BrightSpring Health Services from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 23rd. Stephens raised their price objective on BrightSpring Health Services from $53.00 to $64.00 and gave the company an "overweight" rating in a research report on Monday, May 4th. Finally, Wells Fargo & Company boosted their target price on BrightSpring Health Services from $61.00 to $78.00 and gave the stock an "overweight" rating in a research note on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating and eighteen have given a Buy rating to the company's stock. According to MarketBeat, BrightSpring Health Services has a consensus rating of "Buy" and a consensus price target of $70.71.

Insider Activity at BrightSpring Health Services

In other BrightSpring Health Services news, insider Jon B. Rousseau sold 130,000 shares of the business's stock in a transaction on Friday, June 5th. The stock was sold at an average price of $58.75, for a total value of $7,637,500.00. Following the completion of the transaction, the insider directly owned 1,194,503 shares in the company, valued at approximately $70,177,051.25. The trade was a 9.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Lisa A. Nalley sold 35,000 shares of BrightSpring Health Services stock in a transaction on Friday, June 5th. The shares were sold at an average price of $58.75, for a total transaction of $2,056,250.00. Following the completion of the transaction, the insider owned 131,948 shares in the company, valued at approximately $7,751,945. This trade represents a 20.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.80% of the stock is currently owned by insiders.

BrightSpring Health Services Stock Performance

Shares of BTSG stock opened at $59.13 on Friday. BrightSpring Health Services, Inc. has a 12 month low of $22.86 and a 12 month high of $73.75. The company has a market cap of $11.70 billion, a P/E ratio of 35.62, a PEG ratio of 0.71 and a beta of 1.88. The company has a current ratio of 1.59, a quick ratio of 1.22 and a debt-to-equity ratio of 1.06. The firm has a fifty day moving average price of $65.91 and a 200 day moving average price of $54.81.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.05. BrightSpring Health Services had a return on equity of 16.73% and a net margin of 2.55%.The company had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same quarter last year, the company posted $0.22 earnings per share. The business's quarterly revenue was up 23.0% compared to the same quarter last year. Sell-side analysts predict that BrightSpring Health Services, Inc. will post 1.82 earnings per share for the current fiscal year.

About BrightSpring Health Services

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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