Hennessy Advisors Inc. Purchases Shares of 580,800 BrightSpring Health Services, Inc. $BTSG

Key Points

• Hennessy Advisors Inc. recently acquired 580,800 shares of BrightSpring Health Services, valued at approximately $13.7 million, holding 0.33% of the company as of their latest filing.
• BrightSpring Health Services has been receiving mixed analyst ratings, with Bank of America boosting its price target from $27.50 to $31.00, while other firms have maintained or downgraded their ratings.
• The company's most recent earnings report showed a 15.3% year-over-year revenue increase, with earnings per share exceeding analyst estimates by $0.03.

Hennessy Advisors Inc. acquired a new position in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 580,800 shares of the company's stock, valued at approximately $13,701,000. Hennessy Advisors Inc. owned 0.33% of BrightSpring Health Services as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. IFP Advisors Inc lifted its holdings in shares of BrightSpring Health Services by 273,666.7% during the 1st quarter. IFP Advisors Inc now owns 8,213 shares of the company's stock worth $149,000 after acquiring an additional 8,210 shares during the period. Highland Capital Management LLC bought a new position in shares of BrightSpring Health Services during the 1st quarter worth about $181,000. Strs Ohio bought a new position in shares of BrightSpring Health Services during the 1st quarter worth about $226,000. GAMMA Investing LLC lifted its holdings in shares of BrightSpring Health Services by 2,526.5% during the 1st quarter. GAMMA Investing LLC now owns 14,472 shares of the company's stock worth $262,000 after acquiring an additional 13,921 shares during the period. Finally, Teacher Retirement System of Texas lifted its holdings in shares of BrightSpring Health Services by 6.8% during the 1st quarter. Teacher Retirement System of Texas now owns 14,650 shares of the company's stock worth $265,000 after acquiring an additional 932 shares during the period.

Analysts Set New Price Targets

A number of research firms have recently commented on BTSG. Bank of America raised their price objective on shares of BrightSpring Health Services from $27.50 to $31.00 and gave the stock a "buy" rating in a report on Wednesday, September 10th. Wall Street Zen downgraded shares of BrightSpring Health Services from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. Cowen reiterated a "buy" rating on shares of BrightSpring Health Services in a research report on Monday, August 4th. Weiss Ratings reiterated a "hold (c-)" rating on shares of BrightSpring Health Services in a research report on Saturday, September 27th. Finally, Deutsche Bank Aktiengesellschaft set a $30.00 target price on shares of BrightSpring Health Services and gave the stock a "buy" rating in a research report on Monday, September 8th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, BrightSpring Health Services presently has a consensus rating of "Moderate Buy" and a consensus target price of $29.13.

BrightSpring Health Services Price Performance

Shares of BTSG stock opened at $28.36 on Friday. BrightSpring Health Services, Inc. has a 1 year low of $14.03 and a 1 year high of $30.35. The firm's 50 day moving average is $24.46 and its 200-day moving average is $21.90. The firm has a market capitalization of $5.02 billion, a price-to-earnings ratio of 91.49, a PEG ratio of 0.48 and a beta of 2.40. 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 (NASDAQ:BTSG - Get Free Report) last announced its earnings results on Friday, August 1st. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.19 by $0.03. BrightSpring Health Services had a net margin of 0.55% and a return on equity of 9.29%. The company had revenue of $3.15 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same period in the prior year, the business earned $0.10 earnings per share. BrightSpring Health Services's quarterly revenue was up 15.3% on a year-over-year basis. BrightSpring Health Services has set its FY 2025 guidance at EPS. Sell-side analysts forecast that BrightSpring Health Services, Inc. will post 0.59 EPS for the current fiscal year.

BrightSpring Health Services Company Profile

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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