153,608 Shares in BrightSpring Health Services, Inc. (NASDAQ:BTSG) Bought by Phocas Financial Corp.

Key Points

• Phocas Financial Corp. has invested approximately $2.78 million in BrightSpring Health Services, purchasing 153,608 shares during the first quarter.
• BrightSpring Health Services reported a quarterly revenue of $3.15 billion, exceeding analyst expectations of $2.99 billion.
• Currently, BrightSpring Health Services has an average rating of "Moderate Buy" from analysts, with a price target of $24.90.

Phocas Financial Corp. acquired a new stake in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 153,608 shares of the company's stock, valued at approximately $2,779,000. Phocas Financial Corp. owned about 0.09% of BrightSpring Health Services at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of BrightSpring Health Services in the 4th quarter valued at about $29,000. IFP Advisors Inc boosted its position in BrightSpring Health Services by 273,666.7% during the first 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 last quarter. Highland Capital Management LLC bought a new stake in shares of BrightSpring Health Services during the 1st quarter worth approximately $181,000. Envestnet Asset Management Inc. bought a new position in shares of BrightSpring Health Services in the fourth quarter valued at $188,000. Finally, KLP Kapitalforvaltning AS acquired a new position in BrightSpring Health Services during the fourth quarter worth $206,000.

BrightSpring Health Services Stock Performance

NASDAQ:BTSG traded down $0.24 on Thursday, hitting $20.26. The stock had a trading volume of 424,235 shares, compared to its average volume of 2,053,910. BrightSpring Health Services, Inc. has a 52-week low of $11.19 and a 52-week high of $25.57. The company has a quick ratio of 1.37, a current ratio of 1.76 and a debt-to-equity ratio of 1.43. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of 65.20 and a beta of 2.25. The business's 50-day simple moving average is $21.68 and its two-hundred day simple moving average is $20.51.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same period last year, the business posted $0.10 EPS. The business's revenue was up 15.3% compared to the same quarter last year. As a group, research analysts predict that BrightSpring Health Services, Inc. will post 0.59 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BTSG shares. Cowen reiterated a "buy" rating on shares of BrightSpring Health Services in a report on Monday. Wall Street Zen lowered shares of BrightSpring Health Services from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. TD Cowen assumed coverage on BrightSpring Health Services in a research note on Monday, June 23rd. They issued a "buy" rating and a $37.00 price objective on the stock. Mizuho set a $26.00 target price on shares of BrightSpring Health Services in a report on Monday, May 5th. Finally, Morgan Stanley increased their target price 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. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $24.90.

Insider Transactions at BrightSpring Health Services

In related 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 sale, the insider directly owned 1,184,133 shares of the company's stock, valued at $25,754,892.75. This trade represents a 30.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Phoenix Aggregator L.P. Kkr sold 2,100,000 shares of the company's 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 transaction, the insider directly owned 77,096,337 shares of the company's stock, valued at $1,630,587,527.55. This trade represents a 2.65% 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 over the last ninety days. 3.40% of the stock is owned by company insiders.

BrightSpring Health Services Company 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.