Global Retirement Partners LLC Invests $1.99 Million in BrightSpring Health Services, Inc. $BTSG

Key Points

• Global Retirement Partners acquired 28,508 BrightSpring shares worth approximately $1.99 million during the second quarter, joining several other institutions that increased or initiated positions.
• BrightSpring reported strong quarterly results, with EPS of $0.45 versus $0.40 expected and revenue of $3.87 billion, up 23% year over year and above analyst estimates.
• Wall Street remains broadly bullish, with the stock carrying an average “Buy” rating and a $70.71 consensus price target, although two insiders sold a combined 165,000 shares.

Global Retirement Partners LLC acquired a new position in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 28,508 shares of the company's stock, valued at approximately $1,988,000.

A number of other large investors have also recently bought and sold shares of BTSG. CWM LLC grew its holdings in shares of BrightSpring Health Services by 17.5% during the fourth quarter. CWM LLC now owns 1,874 shares of the company's stock valued at $70,000 after purchasing an additional 279 shares during the last quarter. State of Wyoming boosted its position in BrightSpring Health Services by 4.5% during the 1st quarter. State of Wyoming now owns 7,776 shares of the company's stock valued at $331,000 after purchasing an additional 336 shares during the period. EverSource Wealth Advisors LLC boosted its position in BrightSpring Health Services by 17.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,826 shares of the company's stock valued at $143,000 after purchasing an additional 565 shares during the period. Moran Wealth Management LLC grew its stake in BrightSpring Health Services by 9.0% during the 1st quarter. Moran Wealth Management LLC now owns 6,925 shares of the company's stock worth $295,000 after buying an additional 572 shares during the last quarter. Finally, GHP Investment Advisors Inc. acquired a new stake in BrightSpring Health Services in the first quarter worth $31,000.

BrightSpring Health Services Price Performance

BTSG opened at $61.71 on Monday. The stock's fifty day moving average is $66.64 and its 200-day moving average is $53.48. BrightSpring Health Services, Inc. has a one year low of $22.36 and a one year high of $73.75. The company has a market capitalization of $12.21 billion, a PE ratio of 37.17, a P/E/G ratio of 0.75 and a beta of 1.88. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.22 and a current ratio of 1.59.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last released its earnings results on Friday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same period in the previous year, the company earned $0.22 earnings per share. BrightSpring Health Services's revenue was up 23.0% compared to the same quarter last year. On average, equities analysts predict that BrightSpring Health Services, Inc. will post 1.78 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group started coverage on shares of BrightSpring Health Services in a report on Monday, June 8th. They set a "buy" rating and a $71.00 price target for the company. Zacks Research raised shares of BrightSpring Health Services from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 4th. TD Cowen upped their target price on shares of BrightSpring Health Services from $65.00 to $81.00 and gave the stock a "buy" rating in a research report on Thursday, June 18th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $70.00 price target on shares of BrightSpring Health Services in a research note on Monday, August 3rd. Finally, BTIG Research reiterated a "buy" rating and set a $90.00 price objective on shares of BrightSpring Health Services in a research report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating and eighteen have assigned a Buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $70.71.

Insider Activity at BrightSpring Health Services

In related news, insider Lisa A. Nalley sold 35,000 shares of the business's stock in a transaction that occurred on 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 sale, the insider directly owned 131,948 shares in the company, valued at $7,751,945. The trade was a 20.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jon B. Rousseau sold 130,000 shares of the stock in a transaction that occurred on 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 sale, the insider directly owned 1,194,503 shares of the company's stock, valued at approximately $70,177,051.25. This represents a 9.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.80% of the company's stock.

BrightSpring Health Services Company 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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