Hennessy Advisors Inc. Reduces Position in BrightSpring Health Services, Inc. $BTSG

Key Points

• Hennessy Advisors reduced its stake in BrightSpring by 6.1% in Q4, selling 32,800 shares and ending the period with 505,300 shares valued at about $18.9 million (≈0.28% of the company).
• Analyst sentiment is broadly positive with a consensus "Buy" rating and an average price target of $45.50; several firms reiterated buy/outperform ratings and recent targets range up to $55 (Mizuho raised its target to $52).
• Corporate insiders have been net sellers, offloading 285,000 shares worth ~$11.7 million over the last three months (including 30,000 shares by Lisa Nalley and 35,000 by CFO Jennifer Phipps); insiders now hold 2.80% of the stock.

Hennessy Advisors Inc. lessened its holdings in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 6.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 505,300 shares of the company's stock after selling 32,800 shares during the period. Hennessy Advisors Inc. owned about 0.28% of BrightSpring Health Services worth $18,923,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. CWM LLC boosted its position 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 buying an additional 279 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of BrightSpring Health Services by 112.8% in the fourth quarter. Farther Finance Advisors LLC now owns 1,717 shares of the company's stock valued at $64,000 after purchasing an additional 910 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of BrightSpring Health Services by 13.7% in the third quarter. PNC Financial Services Group Inc. now owns 9,282 shares of the company's stock valued at $274,000 after purchasing an additional 1,121 shares during the period. Amalgamated Bank boosted its holdings in shares of BrightSpring Health Services by 62.7% in the third quarter. Amalgamated Bank now owns 3,041 shares of the company's stock valued at $90,000 after purchasing an additional 1,172 shares during the period. Finally, Covestor Ltd boosted its holdings in shares of BrightSpring Health Services by 16.6% in the third quarter. Covestor Ltd now owns 8,567 shares of the company's stock valued at $253,000 after purchasing an additional 1,218 shares during the period.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Weiss Ratings reiterated a "hold (c)" rating on shares of BrightSpring Health Services in a report on Monday, December 29th. BTIG Research reiterated a "buy" rating and issued a $55.00 price target on shares of BrightSpring Health Services in a report on Thursday, March 19th. Leerink Partners reiterated an "outperform" rating and issued a $49.00 price target on shares of BrightSpring Health Services in a report on Wednesday, March 18th. Mizuho boosted their price target on BrightSpring Health Services from $50.00 to $52.00 and gave the company an "outperform" rating in a report on Wednesday, March 18th. Finally, TD Cowen reiterated a "buy" rating on shares of BrightSpring Health Services in a report on Monday, March 2nd. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, BrightSpring Health Services currently has an average rating of "Buy" and a consensus price target of $45.50.

BrightSpring Health Services Price Performance

BrightSpring Health Services stock opened at $47.27 on Monday. The business has a fifty day moving average of $42.03 and a two-hundred day moving average of $37.66. The company has a quick ratio of 1.12, a current ratio of 1.57 and a debt-to-equity ratio of 1.32. The firm has a market cap of $9.13 billion, a P/E ratio of 53.72, a P/E/G ratio of 0.62 and a beta of 2.03. BrightSpring Health Services, Inc. has a twelve month low of $15.48 and a twelve month high of $47.38.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last posted its earnings results on Friday, February 27th. The company reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.01). The company had revenue of $3.55 billion for the quarter, compared to analysts' expectations of $3.38 billion. BrightSpring Health Services had a return on equity of 12.66% and a net margin of 1.48%.The firm's quarterly revenue was up 29.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.11 EPS. On average, analysts forecast that BrightSpring Health Services, Inc. will post 0.59 earnings per share for the current fiscal year.

Insider Transactions at BrightSpring Health Services

In other news, insider Lisa A. Nalley sold 30,000 shares of the company's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total transaction of $1,234,500.00. Following the transaction, the insider directly owned 110,594 shares of the company's stock, valued at approximately $4,550,943.10. This represents a 21.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Jennifer A. Phipps sold 35,000 shares of the company's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total value of $1,440,250.00. Following the transaction, the chief financial officer directly owned 196,840 shares in the company, valued at approximately $8,099,966. The trade was a 15.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 285,000 shares of company stock valued at $11,727,750. Corporate 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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