Royce & Associates LP Lowers Stock Position in BrightSpring Health Services, Inc. $BTSG

Key Points

• Royce & Associates LP reduced its BrightSpring Health Services stake by 19.2% in the fourth quarter, selling 34,999 shares and leaving it with 147,539 shares worth about $5.53 million.
• Insiders also sold shares, including CFO Jennifer A. Phipps and insider Lisa A. Nalley, with 285,000 shares sold by insiders over the last 90 days worth about $11.7 million.
• BrightSpring’s recent results topped expectations: Q1 EPS came in at $0.39 versus $0.29 expected, revenue reached $3.61 billion, and analysts remain broadly bullish with a consensus “Buy” rating and average price target of $57.

Royce & Associates LP cut its stake in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 19.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 147,539 shares of the company's stock after selling 34,999 shares during the period. Royce & Associates LP owned 0.08% of BrightSpring Health Services worth $5,525,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Westover Capital Advisors LLC purchased a new stake in shares of BrightSpring Health Services during the 4th quarter valued at $697,000. Legal & General Group Plc grew its stake in shares of BrightSpring Health Services by 160.9% during the 4th quarter. Legal & General Group Plc now owns 267,919 shares of the company's stock valued at $10,034,000 after buying an additional 165,221 shares during the period. New Age Alpha Advisors LLC purchased a new stake in shares of BrightSpring Health Services during the 4th quarter valued at $202,000. Catalyst Funds Management Pty Ltd purchased a new stake in shares of BrightSpring Health Services during the 4th quarter valued at $1,378,000. Finally, Lisanti Capital Growth LLC grew its stake in shares of BrightSpring Health Services by 129.7% during the 4th quarter. Lisanti Capital Growth LLC now owns 152,195 shares of the company's stock valued at $5,700,000 after buying an additional 85,925 shares during the period.

Insider Activity at BrightSpring Health Services

In related news, CFO Jennifer A. Phipps sold 35,000 shares of BrightSpring Health Services stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $41.15, for a total transaction of $1,440,250.00. Following the transaction, the chief financial officer owned 196,840 shares in the company, valued at approximately $8,099,966. The trade was a 15.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Lisa A. Nalley sold 30,000 shares of the business's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total transaction of $1,234,500.00. Following the completion of the transaction, the insider owned 110,594 shares in the company, valued at $4,550,943.10. This represents a 21.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 285,000 shares of company stock worth $11,727,750. 2.80% of the stock is currently owned by corporate insiders.

BrightSpring Health Services Stock Performance

NASDAQ:BTSG opened at $61.68 on Friday. The company has a current ratio of 1.74, a quick ratio of 1.38 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $11.96 billion, a price-to-earnings ratio of 43.74, a PEG ratio of 0.80 and a beta of 1.71. The firm's fifty day simple moving average is $49.66 and its 200 day simple moving average is $42.08. BrightSpring Health Services, Inc. has a twelve month low of $19.01 and a twelve month high of $62.11.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last posted its earnings results on Friday, May 1st. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.10. The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.39 billion. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The business's quarterly revenue was up 25.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.14 EPS. As a group, equities research analysts expect that BrightSpring Health Services, Inc. will post 1.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of BrightSpring Health Services from $50.00 to $61.00 and gave the company an "overweight" rating in a research note on Monday, May 4th. Weiss Ratings raised shares of BrightSpring Health Services from a "hold (c)" rating to a "buy (b-)" rating in a research note on Monday, May 4th. Cantor Fitzgerald set a $49.00 target price on shares of BrightSpring Health Services in a report on Monday, March 2nd. UBS Group lifted their target price on shares of BrightSpring Health Services from $53.00 to $55.00 and gave the company a "buy" rating in a report on Wednesday, March 18th. Finally, KeyCorp lifted their target price on shares of BrightSpring Health Services from $55.00 to $60.00 and gave the company an "overweight" rating in a report on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $57.00.

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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