Raymond James Financial Inc. Sells 93,468 Shares of BrightSpring Health Services, Inc. $BTSG

Key Points

• Raymond James Financial Inc. has reduced its stake in BrightSpring Health Services by 8.7%, now holding 978,572 shares valued at approximately $17.7 million.
• Insider transactions include Jon B. Rousseau selling 531,840 shares for around $11.6 million, and major shareholder Phoenix Aggregator L.P. selling 13.3 million shares for over $281 million.
• Analysts have given BrightSpring Health Services a consensus rating of "Moderate Buy", with target prices ranging from $25.00 to $27.00 as several firms have raised their price objectives.

Raymond James Financial Inc. lowered its position in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 8.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 978,572 shares of the company's stock after selling 93,468 shares during the quarter. Raymond James Financial Inc. owned about 0.56% of BrightSpring Health Services worth $17,702,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in shares of BrightSpring Health Services by 2,526.5% during the 1st quarter. GAMMA Investing LLC now owns 14,472 shares of the company's stock worth $262,000 after purchasing an additional 13,921 shares in the last quarter. New York State Common Retirement Fund boosted its position in shares of BrightSpring Health Services by 131.8% during the 1st quarter. New York State Common Retirement Fund now owns 37,918 shares of the company's stock worth $686,000 after purchasing an additional 21,563 shares in the last quarter. Teacher Retirement System of Texas boosted its position in shares of BrightSpring Health Services by 6.8% during the 1st quarter. Teacher Retirement System of Texas now owns 14,650 shares of the company's stock worth $265,000 after purchasing an additional 932 shares in the last quarter. Rhumbline Advisers boosted its position in shares of BrightSpring Health Services by 4.8% during the 1st quarter. Rhumbline Advisers now owns 77,100 shares of the company's stock worth $1,395,000 after purchasing an additional 3,517 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of BrightSpring Health Services during the 1st quarter worth about $561,000.

Insider Activity at BrightSpring Health Services

In other BrightSpring Health Services news, 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 shares were sold at an average price of $21.15, for a total transaction of $281,043,336.15. Following the transaction, the insider owned 79,671,883 shares of the company's stock, valued at $1,685,060,325.45. This trade represents a 14.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jon B. Rousseau sold 531,840 shares of BrightSpring Health Services stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $21.75, for a total transaction of $11,567,520.00. Following the transaction, the insider directly owned 1,184,133 shares in the company, 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 three months, insiders have sold 15,919,941 shares of company stock worth $337,025,856. Insiders own 3.40% of the company's stock.

BrightSpring Health Services Stock Up 0.8%

NASDAQ BTSG traded up $0.19 during trading hours on Tuesday, hitting $23.88. The company's stock had a trading volume of 1,545,004 shares, compared to its average volume of 1,949,945. BrightSpring Health Services, Inc. has a 52 week low of $12.35 and a 52 week high of $25.57. The company has a market capitalization of $4.23 billion, a PE ratio of 77.03 and a beta of 2.27. The company has a current ratio of 1.76, a quick ratio of 1.34 and a debt-to-equity ratio of 1.43. The company's 50-day simple moving average is $21.78 and its two-hundred day simple moving average is $20.57.

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 for the quarter, beating 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 business had revenue of $3.15 billion for the quarter, compared to analysts' expectations of $2.99 billion. During the same quarter last year, the firm earned $0.10 EPS. The firm's revenue for the quarter was up 15.3% compared to the same quarter last year. BrightSpring Health Services has set its FY 2025 guidance at EPS. Research analysts anticipate that BrightSpring Health Services, Inc. will post 0.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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