Jefferies Financial Group Inc. Purchases 13,545 Shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG)

Key Points

• Jefferies Financial Group Inc. has increased its stake in BrightSpring Health Services by 59.1%, now owning 36,470 shares worth approximately $660,000.
• BrightSpring Health Services reported earnings of $0.22 per share for the latest quarter, exceeding estimates, with revenue reaching $3.15 billion—up 15.3% year-over-year.
• Several analysts have raised their price targets for BrightSpring Health Services, with the consensus average target price now at $24.90 and a majority rating it as a "Moderate Buy."

Jefferies Financial Group Inc. raised its holdings in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 59.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,470 shares of the company's stock after purchasing an additional 13,545 shares during the quarter. Jefferies Financial Group Inc.'s holdings in BrightSpring Health Services were worth $660,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Quarry LP bought a new stake in shares of BrightSpring Health Services in the 4th quarter worth approximately $29,000. IFP Advisors Inc increased its position 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 valued at $149,000 after purchasing an additional 8,210 shares during the period. Highland Capital Management LLC acquired a new position in shares of BrightSpring Health Services during the 1st quarter valued at $181,000. Envestnet Asset Management Inc. acquired a new position in shares of BrightSpring Health Services in the 4th quarter worth $188,000. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of BrightSpring Health Services in the 4th quarter worth $206,000.

BrightSpring Health Services Price Performance

Shares of BTSG stock traded up $0.32 during trading hours on Friday, hitting $20.78. The company had a trading volume of 1,607,944 shares, compared to its average volume of 2,476,610. BrightSpring Health Services, Inc. has a 12 month low of $11.38 and a 12 month high of $25.57. The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of 67.03 and a beta of 2.25. The firm's fifty day moving average is $21.56 and its 200 day moving average is $20.52. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.37 and a current ratio of 1.76.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.03. BrightSpring Health Services had a return on equity of 9.29% and a net margin of 0.55%. 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 company posted $0.10 EPS. The company's revenue was up 15.3% compared to the same quarter last year. On average, sell-side analysts predict that BrightSpring Health Services, Inc. will post 0.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Wells Fargo & Company lifted their target price on BrightSpring Health Services from $25.00 to $27.00 and gave the stock an "overweight" rating in a report on Tuesday, May 13th. Cowen restated a "buy" rating on shares of BrightSpring Health Services in a report on Monday, August 4th. Mizuho set a $26.00 price target on BrightSpring Health Services in a report on Monday, May 5th. Morgan Stanley lifted their price target on BrightSpring Health Services from $20.00 to $25.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Finally, TD Cowen began coverage on BrightSpring Health Services in a report on Monday, June 23rd. They set a "buy" rating and a $37.00 price target on the stock. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, BrightSpring Health Services has a consensus rating of "Moderate Buy" and a consensus target price of $24.90.

Insider Buying and Selling

In related news, major shareholder Phoenix Aggregator L.P. Kkr sold 2,100,000 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $21.15, for a total transaction of $44,415,000.00. Following the sale, the insider directly owned 77,096,337 shares in the company, valued at $1,630,587,527.55. This represents a 2.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jon B. Rousseau sold 531,840 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $21.75, for a total value of $11,567,520.00. Following the sale, the insider owned 1,184,133 shares in the company, valued at approximately $25,754,892.75. This trade represents a 30.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,919,941 shares of company stock worth $337,025,856. 3.40% of the stock is owned by corporate insiders.

About BrightSpring Health Services

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.