BrightSpring Health Services, Inc. $BTSG Shares Sold by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP has reduced its stake in BrightSpring Health Services by 40.8%, owning 48,794 shares after selling 33,575 shares.
• Major insider sales occurred with Jon B. Rousseau selling 531,840 shares and a major shareholder selling 2,100,000 shares, reflecting decreased ownership percentages.
• BrightSpring Health Services reported better-than-expected quarterly earnings with $3.15 billion in revenue and a 0.22 EPS, surpassing analysts' expectations.

Quantbot Technologies LP reduced its stake in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 40.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 48,794 shares of the company's stock after selling 33,575 shares during the period. Quantbot Technologies LP's holdings in BrightSpring Health Services were worth $883,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Quarry LP purchased a new stake in BrightSpring Health Services during the fourth quarter worth about $29,000. IFP Advisors Inc lifted its holdings in shares of BrightSpring Health Services by 273,666.7% during the first quarter. IFP Advisors Inc now owns 8,213 shares of the company's stock worth $149,000 after purchasing an additional 8,210 shares during the period. Highland Capital Management LLC acquired a new stake in BrightSpring Health Services in the first quarter valued at $181,000. Envestnet Asset Management Inc. acquired a new stake in BrightSpring Health Services in the fourth quarter valued at $188,000. Finally, Numerai GP LLC acquired a new stake in BrightSpring Health Services in the fourth quarter valued at $252,000.

BrightSpring Health Services Price Performance

Shares of BTSG stock traded up $0.04 during mid-day trading on Friday, reaching $23.77. The stock had a trading volume of 583,695 shares, compared to its average volume of 2,053,424. BrightSpring Health Services, Inc. has a 12-month low of $12.35 and a 12-month high of $25.57. The company has a market cap of $4.21 billion, a P/E ratio of 76.63 and a beta of 2.25. The business has a 50-day simple moving average of $21.71 and a 200 day simple moving average of $20.55. The company has a current ratio of 1.76, a quick ratio of 1.34 and a debt-to-equity ratio of 1.43.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.03. The firm had revenue of $3.15 billion during the quarter, compared to analysts' expectations 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 last year, the business posted $0.10 EPS. BrightSpring Health Services has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that BrightSpring Health Services, Inc. will post 0.59 earnings per share for the current year.

Insider Transactions at BrightSpring Health Services

In related news, major shareholder Phoenix Aggregator L.P. Kkr sold 2,100,000 shares of BrightSpring Health Services stock in a transaction dated 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 completion of the sale, the insider owned 77,096,337 shares in the company, valued at approximately $1,630,587,527.55. This trade represents a 2.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jon B. Rousseau sold 531,840 shares of BrightSpring Health Services stock in a transaction dated 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 of the company's stock, valued at approximately $25,754,892.75. This represents a 30.99% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,919,941 shares of company stock valued at $337,025,856. 3.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have commented on BTSG. Cowen reissued a "buy" rating on shares of BrightSpring Health Services in a report on Monday, August 4th. TD Cowen began coverage on BrightSpring Health Services in a report on Monday, June 23rd. They issued a "buy" rating and a $37.00 target price for the company. Morgan Stanley raised their target price on BrightSpring Health Services from $20.00 to $25.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Wall Street Zen downgraded BrightSpring Health Services from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. Finally, Mizuho set a $26.00 target price on BrightSpring Health Services in a report on Monday, May 5th. Ten investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $25.67.

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.