The Manufacturers Life Insurance Company Makes New Investment in BrightSpring Health Services, Inc. $BTSG

Key Points

• The Manufacturers Life Insurance Company acquired 3.43 million BrightSpring Health Services shares worth approximately $239.4 million, representing a 1.73% stake. Several other institutional investors also initiated positions.
• BrightSpring reported quarterly EPS of $0.45, beating estimates by $0.05, while revenue rose 23% year over year to $3.87 billion. Analysts expect full-year EPS of $1.82.
• Wall Street maintains a positive outlook, with the stock carrying an overall “Buy” rating and an average price target of $70.71, versus a reported share price of $59.49.

The Manufacturers Life Insurance Company bought a new stake in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 3,432,423 shares of the company's stock, valued at approximately $239,377,000. The Manufacturers Life Insurance Company owned 1.73% of BrightSpring Health Services as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in BTSG. Allworth Financial LP acquired a new stake in shares of BrightSpring Health Services during the 2nd quarter worth approximately $28,000. NBC Securities Inc. acquired a new position in BrightSpring Health Services during the fourth quarter valued at approximately $29,000. GHP Investment Advisors Inc. bought a new stake in BrightSpring Health Services during the first quarter worth $31,000. EverSource Wealth Advisors LLC bought a new stake in BrightSpring Health Services during the second quarter worth $43,000. Finally, Kilter Group LLC acquired a new stake in shares of BrightSpring Health Services in the 2nd quarter valued at $50,000.

BrightSpring Health Services Stock Performance

NASDAQ BTSG opened at $59.49 on Tuesday. The firm's fifty day moving average price is $66.36 and its two-hundred day moving average price is $54.33. The stock has a market cap of $11.77 billion, a PE ratio of 35.84, a PEG ratio of 0.71 and a beta of 1.88. BrightSpring Health Services, Inc. has a fifty-two week low of $22.86 and a fifty-two week high of $73.75. 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 announced its quarterly earnings results on Friday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.05. BrightSpring Health Services had a net margin of 2.55% and a return on equity of 16.73%. The company had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same period in the prior year, the business earned $0.22 earnings per share. The company's revenue for the quarter was up 23.0% compared to the same quarter last year. On average, equities analysts expect that BrightSpring Health Services, Inc. will post 1.82 EPS for the current fiscal year.

Insiders Place Their Bets

In other BrightSpring Health Services news, insider Jon B. Rousseau sold 130,000 shares of the stock in a transaction dated 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 transaction, the insider directly owned 1,194,503 shares in the company, valued at approximately $70,177,051.25. This trade represents a 9.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lisa A. Nalley sold 35,000 shares of BrightSpring Health Services stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $58.75, for a total value of $2,056,250.00. Following the sale, the insider directly owned 131,948 shares in the company, valued at $7,751,945. The trade was a 20.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.80% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group assumed coverage on BrightSpring Health Services in a research note on Monday, June 8th. They issued a "buy" rating and a $71.00 price target on the stock. Wells Fargo & Company upped their price objective on BrightSpring Health Services from $61.00 to $78.00 and gave the stock an "overweight" rating in a research report on Monday, July 13th. BMO Capital Markets set a $70.00 price objective on BrightSpring Health Services in a research note on Thursday, May 21st. Raymond James Financial began coverage on BrightSpring Health Services in a research report on Thursday, July 9th. They issued an "outperform" rating and a $80.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $70.00 target price on shares of BrightSpring Health Services in a research note on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating and eighteen have given a Buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $70.71.

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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