Jefferies Financial Group Inc. Boosts Stake in 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. increased its position in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 59.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,470 shares of the company's stock after acquiring an additional 13,545 shares during the period. Jefferies Financial Group Inc.'s holdings in BrightSpring Health Services were worth $660,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of BrightSpring Health Services by 21.6% in the fourth quarter. FMR LLC now owns 22,102,490 shares of the company's stock valued at $376,405,000 after purchasing an additional 3,933,303 shares during the period. T. Rowe Price Investment Management Inc. purchased a new stake in BrightSpring Health Services in the fourth quarter valued at approximately $26,958,000. Raymond James Financial Inc. acquired a new position in BrightSpring Health Services in the 4th quarter worth approximately $18,257,000. Sea Cliff Partners Management LP raised its position in BrightSpring Health Services by 49.1% during the 4th quarter. Sea Cliff Partners Management LP now owns 1,735,150 shares of the company's stock worth $29,550,000 after buying an additional 571,437 shares during the last quarter. Finally, Integral Health Asset Management LLC boosted its holdings in shares of BrightSpring Health Services by 90.0% in the 4th quarter. Integral Health Asset Management LLC now owns 950,000 shares of the company's stock valued at $16,178,000 after acquiring an additional 450,000 shares during the last quarter.

Insider Transactions at BrightSpring Health Services

In other news, insider Jon B. Rousseau sold 531,840 shares of the company's 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 completion of the sale, the insider directly owned 1,184,133 shares in the company, valued at $25,754,892.75. This represents a 30.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Phoenix Aggregator L.P. Kkr sold 13,288,101 shares of BrightSpring Health Services stock in a transaction that occurred 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 in the company, valued at approximately $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 15,919,941 shares of company stock worth $337,025,856 over the last 90 days. 3.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on BTSG shares. Wall Street Zen lowered shares of BrightSpring Health Services from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. 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 price target on the stock. Morgan Stanley boosted their price objective on BrightSpring Health Services from $20.00 to $25.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Mizuho set a $26.00 target price on BrightSpring Health Services in a report on Monday, May 5th. Finally, Wells Fargo & Company boosted their price target on BrightSpring Health Services from $25.00 to $27.00 and gave the company an "overweight" rating in a report on Tuesday, May 13th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, BrightSpring Health Services presently has a consensus rating of "Moderate Buy" and an average target price of $24.90.

BrightSpring Health Services Price Performance

Shares of NASDAQ:BTSG traded up $0.65 during trading on Wednesday, reaching $20.50. The stock had a trading volume of 2,469,104 shares, compared to its average volume of 2,390,603. 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, Inc. has a 1-year low of $11.19 and a 1-year high of $25.57. The stock has a market cap of $3.63 billion, a PE ratio of 66.13 and a beta of 2.25. The business has a fifty day moving average price of $21.68 and a 200-day moving average price of $20.51.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last announced its earnings results on Friday, August 1st. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.03. BrightSpring Health Services had a net margin of 0.55% and a return on equity of 9.29%. The company had revenue of $3.15 billion for the quarter, compared to analysts' expectations of $2.99 billion. During the same quarter in the previous year, the company posted $0.10 EPS. The firm's quarterly revenue was up 15.3% on a year-over-year basis. On average, equities analysts forecast that BrightSpring Health Services, Inc. will post 0.59 earnings per share for the current fiscal year.

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.