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

Key Points

• HSBC Holdings acquired 356,026 BrightSpring Health Services shares worth approximately $24.7 million, joining several other institutional investors that initiated positions during the second quarter.
• Analysts remain broadly bullish: BrightSpring has a consensus “Buy” rating, with an average price target of $70.71 and several firms recently raising targets as high as $85.
• The company exceeded quarterly expectations, reporting $0.45 in earnings per share versus $0.40 expected and $3.87 billion in revenue, up 23% year over year.

Hsbc Holdings PLC bought a new stake in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 356,026 shares of the company's stock, valued at approximately $24,749,000. Hsbc Holdings PLC owned approximately 0.18% of BrightSpring Health Services as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Canada Pension Plan Investment Board purchased a new stake in BrightSpring Health Services in the 2nd quarter worth $3,578,000. Castleark Management LLC bought a new position in shares of BrightSpring Health Services in the second quarter worth about $14,815,000. Caledonia Private Investments Pty Ltd bought a new position in shares of BrightSpring Health Services in the second quarter worth about $216,000. Legal & General Group Plc bought a new position in shares of BrightSpring Health Services in the second quarter worth about $25,250,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of BrightSpring Health Services during the second quarter worth about $239,377,000.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. TD Cowen lifted their price objective on shares of BrightSpring Health Services from $65.00 to $81.00 and gave the stock a "buy" rating in a research note 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 report on Thursday, July 2nd. Guggenheim started coverage on shares of BrightSpring Health Services in a research note on Monday, July 13th. They set a "buy" rating and a $81.00 price target for the company. BMO Capital Markets set a $70.00 price target on shares of BrightSpring Health Services in a report on Thursday, May 21st. Finally, UBS Group increased their price objective on shares of BrightSpring Health Services from $63.00 to $85.00 and gave the stock a "buy" rating in a research report on Wednesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating and eighteen have issued a Buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $70.71.

Insider Transactions at BrightSpring Health Services

In other BrightSpring Health Services news, insider Lisa A. Nalley sold 35,000 shares of the business's stock in a transaction dated 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 completion of the sale, the insider directly owned 131,948 shares of the company's stock, valued at $7,751,945. The trade was a 20.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jon B. Rousseau sold 130,000 shares of the company's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $58.75, for a total transaction of $7,637,500.00. Following the completion of the transaction, the insider owned 1,194,503 shares in the company, valued at $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. Company insiders own 2.80% of the company's stock.

BrightSpring Health Services Stock Performance

Shares of BrightSpring Health Services stock opened at $60.90 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.59 and a debt-to-equity ratio of 1.06. The stock's fifty day moving average is $66.05 and its two-hundred day moving average is $54.78. BrightSpring Health Services, Inc. has a 52 week low of $22.86 and a 52 week high of $73.75. The company has a market capitalization of $12.05 billion, a PE ratio of 36.69, a price-to-earnings-growth ratio of 0.74 and a beta of 1.88.

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 for the quarter, topping the consensus estimate of $0.40 by $0.05. The business had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.66 billion. BrightSpring Health Services had a return on equity of 16.73% and a net margin of 2.55%.The business's revenue for the quarter was up 23.0% compared to the same quarter last year. During the same period last year, the company earned $0.22 earnings per share. As a group, analysts expect that BrightSpring Health Services, Inc. will post 1.82 earnings per share for the current 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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