Man Group plc Makes New Investment in BrightSpring Health Services, Inc. $BTSG

Key Points

• Man Group plc initiated a BrightSpring Health Services position by purchasing 70,628 shares worth approximately $4.9 million in the second quarter. Several other institutional investors also established new stakes.
• BrightSpring exceeded quarterly expectations, reporting $0.45 in earnings per share and $3.87 billion in revenue, with revenue up 23% year over year.
• Analysts remain bullish, assigning the stock an average “Buy” rating and a $70.71 price target, while company insiders sold a combined 165,000 shares in disclosed transactions.

Man Group plc bought a new stake in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 70,628 shares of the company's stock, valued at approximately $4,926,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allworth Financial LP bought a new stake in shares of BrightSpring Health Services during the 2nd quarter valued at about $28,000. GHP Investment Advisors Inc. bought a new stake in BrightSpring Health Services during the first quarter valued at approximately $31,000. EverSource Wealth Advisors LLC bought a new stake in BrightSpring Health Services during the second quarter valued at approximately $43,000. Kilter Group LLC purchased a new stake in BrightSpring Health Services during the second quarter valued at approximately $50,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of BrightSpring Health Services during the 1st quarter worth $52,000.

Insider Activity

In related news, insider Jon B. Rousseau sold 130,000 shares of BrightSpring Health Services stock in a transaction that occurred on 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 sale, the insider owned 1,194,503 shares of the company's stock, valued at approximately $70,177,051.25. This trade represents a 9.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lisa A. Nalley sold 35,000 shares of BrightSpring Health Services stock in a transaction that occurred on 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 sale, the insider directly owned 131,948 shares in the company, valued at $7,751,945. This trade represents a 20.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.80% of the company's stock.

BrightSpring Health Services Stock Performance

Shares of BrightSpring Health Services stock opened at $59.13 on Monday. BrightSpring Health Services, Inc. has a fifty-two week low of $22.86 and a fifty-two week high of $73.75. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.22 and a current ratio of 1.59. The company has a market capitalization of $11.70 billion, a P/E ratio of 35.62, a P/E/G ratio of 0.71 and a beta of 1.88. The company has a fifty day moving average of $65.91 and a 200 day moving average of $54.92.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The company reported $0.45 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $3.87 billion for the quarter, compared to analysts' expectations of $3.66 billion. During the same period last year, the firm earned $0.22 earnings per share. The business's quarterly revenue was up 23.0% on a year-over-year basis. On average, sell-side analysts anticipate that BrightSpring Health Services, Inc. will post 1.82 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Guggenheim started coverage on BrightSpring Health Services in a research report on Monday, July 13th. They set a "buy" rating and a $81.00 target price on the stock. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of BrightSpring Health Services in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $70.00 price objective on shares of BrightSpring Health Services in a research report on Monday, August 3rd. The Goldman Sachs Group initiated coverage on shares of BrightSpring Health Services in a report on Monday, June 8th. They issued a "buy" rating and a $71.00 target price for the company. Finally, UBS Group increased their target price on shares of BrightSpring Health Services from $63.00 to $85.00 and gave the stock a "buy" rating in a report on Wednesday, July 8th. Two analysts have rated the stock with a Strong Buy rating and eighteen have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $70.71.

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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