Quantbot Technologies LP Takes $3.39 Million Position in BrightSpring Health Services, Inc. $BTSG

Key Points

• Quantbot Technologies initiated a $3.39 million position in BrightSpring Health Services during the second quarter by purchasing 48,569 shares. Several other institutional investors also established or increased holdings.
• BrightSpring reported quarterly EPS of $0.45, exceeding the $0.40 consensus estimate, while revenue rose 23% year over year to $3.87 billion. Analysts maintain a consensus “Buy” rating with an average price target of $70.71.
• Despite strong institutional interest and analyst optimism, insiders Jon Rousseau and Lisa Nalley sold a combined 165,000 shares at $58.75 each in June.

Quantbot Technologies LP purchased a new stake in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 48,569 shares of the company's stock, valued at approximately $3,387,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bank of America Corp DE boosted its holdings in shares of BrightSpring Health Services by 48.7% in the first quarter. Bank of America Corp DE now owns 1,534,154 shares of the company's stock worth $65,370,000 after acquiring an additional 502,786 shares during the period. New York State Teachers Retirement System purchased a new stake in BrightSpring Health Services during the 4th quarter worth about $1,311,000. Ausbil Investment Management Ltd purchased a new stake in BrightSpring Health Services during the 2nd quarter worth about $2,005,000. Bellars Harris Wealth Management LLC bought a new position in BrightSpring Health Services in the 2nd quarter worth about $4,394,000. Finally, Wealthstar Advisors LLC bought a new position in BrightSpring Health Services in the 1st quarter worth about $1,525,000.

Insider Transactions at BrightSpring Health Services

In other BrightSpring Health Services news, insider Jon B. Rousseau sold 130,000 shares of the company's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $58.75, for a total value of $7,637,500.00. Following the completion of the sale, the insider owned 1,194,503 shares of the company's stock, valued at $70,177,051.25. This represents a 9.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lisa A. Nalley sold 35,000 shares of the company's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $58.75, for a total value of $2,056,250.00. Following the completion of the sale, the insider directly owned 131,948 shares of the company's stock, valued at approximately $7,751,945. This 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.

Wall Street Analysts Forecast Growth

BTSG has been the topic of several analyst reports. Bank of America upped their price target on BrightSpring Health Services from $66.00 to $77.00 and gave the company a "buy" rating in a research report on Thursday, July 2nd. KeyCorp restated an "overweight" rating on shares of BrightSpring Health Services in a research report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $70.00 price objective on shares of BrightSpring Health Services in a research note on Monday, August 3rd. Morgan Stanley upped their target price on shares of BrightSpring Health Services from $71.00 to $80.00 and gave the stock an "overweight" rating in a report on Tuesday, July 14th. Finally, BMO Capital Markets set a $70.00 target price on shares of BrightSpring Health Services in a research note on Thursday, May 21st. Two research analysts have rated the stock with a Strong Buy rating and eighteen have issued a Buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $70.71.

BrightSpring Health Services Stock Performance

NASDAQ BTSG opened at $58.87 on Monday. BrightSpring Health Services, Inc. has a 52-week low of $22.86 and a 52-week high of $73.75. The company has a fifty day moving average of $66.45 and a 200-day moving average of $54.18. The company has a market capitalization of $11.65 billion, a P/E ratio of 35.46, a P/E/G ratio of 0.71 and a beta of 1.88. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.22 and a current ratio of 1.59.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The company reported $0.45 earnings per share 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 the consensus estimate of $3.66 billion. During the same quarter last year, the business posted $0.22 earnings per share. The company's revenue for the quarter was up 23.0% on a year-over-year basis. As a group, equities research analysts predict that BrightSpring Health Services, Inc. will post 1.82 EPS for the current fiscal year.

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.

Want to see what other hedge funds are holding BTSG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source