Hsbc Holdings PLC Grows Stock Position in BrightSpring Health Services, Inc. $BTSG

Hsbc Holdings PLC increased its holdings in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 7,301.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 356,026 shares of the company's stock after buying an additional 351,216 shares during the quarter. Hsbc Holdings PLC owned 0.18% of BrightSpring Health Services worth $24,749,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Allworth Financial LP bought a new stake in shares of BrightSpring Health Services during the 2nd quarter valued at $28,000. GHP Investment Advisors Inc. bought a new stake in BrightSpring Health Services during the first quarter valued at about $31,000. EverSource Wealth Advisors LLC bought a new stake in BrightSpring Health Services during the second quarter valued at about $43,000. Kilter Group LLC purchased a new stake in BrightSpring Health Services in the second quarter worth about $50,000. Finally, Meeder Asset Management Inc. purchased a new stake in BrightSpring Health Services in the first quarter worth about $52,000.

BrightSpring Health Services Stock Up 3.0%

Shares of NASDAQ BTSG opened at $62.56 on Wednesday. The company has a current ratio of 1.59, a quick ratio of 1.22 and a debt-to-equity ratio of 1.06. BrightSpring Health Services, Inc. has a 12-month low of $25.06 and a 12-month high of $73.75. The firm's 50-day moving average price is $64.79 and its 200-day moving average price is $55.96. The stock has a market capitalization of $12.38 billion, a price-to-earnings ratio of 37.69, a P/E/G ratio of 0.71 and a beta of 1.84.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The company reported $0.45 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 during the quarter, compared to analyst estimates of $3.66 billion. During the same quarter last year, the business posted $0.22 earnings per share. The firm's revenue was up 23.0% on a year-over-year basis. On average, equities research analysts anticipate that BrightSpring Health Services, Inc. will post 1.82 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on BTSG shares. Guggenheim started coverage on BrightSpring Health Services in a research report on Monday, July 13th. They set a "buy" rating and a $81.00 price objective on the stock. TD Cowen increased their target price on shares of BrightSpring Health Services from $65.00 to $81.00 and gave the stock a "buy" rating in a report on Thursday, June 18th. Bank of America raised their target price on shares of BrightSpring Health Services from $66.00 to $77.00 and gave the stock a "buy" rating in a research note on Thursday, July 2nd. Weiss Ratings reiterated a "buy (b-)" rating on shares of BrightSpring Health Services in a research report on Friday, July 31st. Finally, Raymond James Financial started coverage on shares of BrightSpring Health Services in a research note on Thursday, July 9th. They issued an "outperform" rating and a $80.00 price objective for the company. 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, the company currently has a consensus rating of "Buy" and an average target price of $70.71.

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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