Invesco Ltd. Buys 1,794,035 Shares of BrightSpring Health Services, Inc. $BTSG

Key Points

• Invesco Ltd. increased its stake in BrightSpring Health Services by 41%, now owning approximately 3.54% of the company, valued at $111.66 million.
• Several institutional investors made significant modifications to their holdings in BrightSpring, with one investor, IFP Advisors Inc, raising its stake by an extraordinary 273,666.7%.
• BrightSpring Health Services reported an EPS of $0.22 for the last quarter, exceeding analysts' expectations, alongside a revenue of $3.15 billion, which was a 15.3% increase year over year.

Invesco Ltd. boosted its stake in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 41.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,172,597 shares of the company's stock after buying an additional 1,794,035 shares during the quarter. Invesco Ltd. owned approximately 3.54% of BrightSpring Health Services worth $111,662,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its position in BrightSpring Health Services by 24.6% in the 1st quarter. Vanguard Group Inc. now owns 6,633,744 shares of the company's stock valued at $120,004,000 after buying an additional 1,308,651 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in BrightSpring Health Services by 13.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,698,629 shares of the company's stock valued at $45,959,000 after buying an additional 328,977 shares during the last quarter. Sea Cliff Partners Management LP raised its position in BrightSpring Health Services by 49.1% in the 4th quarter. Sea Cliff Partners Management LP now owns 1,735,150 shares of the company's stock valued at $29,550,000 after buying an additional 571,437 shares during the last quarter. T. Rowe Price Investment Management Inc. purchased a new stake in BrightSpring Health Services in the 4th quarter valued at $26,958,000. Finally, Geode Capital Management LLC raised its position in BrightSpring Health Services by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 1,311,204 shares of the company's stock valued at $22,335,000 after buying an additional 6,990 shares during the last quarter.

BrightSpring Health Services Stock Performance

Shares of BTSG stock traded up $0.33 on Thursday, hitting $23.96. 1,893,673 shares of the stock were exchanged, compared to its average volume of 2,677,042. The company has a current ratio of 1.76, a quick ratio of 1.34 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $4.24 billion, a PE ratio of 77.29 and a beta of 2.25. BrightSpring Health Services, Inc. has a one year low of $11.95 and a one year high of $25.57. The firm's 50 day moving average is $21.47 and its two-hundred day moving average is $20.50.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.03. The company had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $2.99 billion. BrightSpring Health Services had a return on equity of 9.29% and a net margin of 0.55%.The firm's quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.10 EPS. BrightSpring Health Services has set its FY 2025 guidance at EPS. Sell-side analysts expect that BrightSpring Health Services, Inc. will post 0.59 earnings per share for the current fiscal year.

Analyst Ratings Changes

BTSG has been the subject of a number of analyst reports. Morgan Stanley increased their price target on BrightSpring Health Services from $20.00 to $25.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. TD Cowen started coverage on BrightSpring Health Services in a research report on Monday, June 23rd. They set a "buy" rating and a $37.00 target price for the company. Cowen reaffirmed a "buy" rating on shares of BrightSpring Health Services in a research report on Monday, August 4th. Mizuho set a $26.00 target price on BrightSpring Health Services in a research report on Monday, May 5th. Finally, Wells Fargo & Company raised their target price on BrightSpring Health Services from $25.00 to $27.00 and gave the company an "overweight" rating in a research report on Tuesday, May 13th. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $25.67.

Insider Buying and Selling at BrightSpring Health Services

In other news, insider Jon B. Rousseau sold 531,840 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $21.75, for a total transaction of $11,567,520.00. Following the completion of the transaction, the insider owned 1,184,133 shares in the company, valued at approximately $25,754,892.75. This represents a 30.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Phoenix Aggregator L.P. Kkr sold 13,288,101 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $21.15, for a total value of $281,043,336.15. Following the transaction, the insider owned 79,671,883 shares of the company's stock, valued at $1,685,060,325.45. The trade was a 14.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,919,941 shares of company stock valued at $337,025,856 in the last quarter. 3.40% of the stock is owned by corporate insiders.

BrightSpring Health Services 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.