Vanguard Group Inc. Buys 1,308,651 Shares of BrightSpring Health Services, Inc. $BTSG

Key Points

• Vanguard Group Inc. increased its stake in BrightSpring Health Services by 24.6%, becoming a significant shareholder with approximately 3.79% ownership valued at $120 million.
• Multiple institutional investors, including Teacher Retirement System of Texas and MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd., have also adjusted their stakes, indicating growing interest in BrightSpring Health Services.
• BrightSpring Health Services reported a profit of $0.22 EPS exceeding estimates, alongside a 15.3% year-over-year revenue growth, which solidifies its positive financial performance amid market fluctuations.

Vanguard Group Inc. raised its stake in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 24.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,633,744 shares of the company's stock after buying an additional 1,308,651 shares during the period. Vanguard Group Inc. owned approximately 3.79% of BrightSpring Health Services worth $120,004,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in BrightSpring Health Services by 13.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,698,629 shares of the company's stock worth $45,959,000 after purchasing an additional 328,977 shares during the period. Sea Cliff Partners Management LP raised its holdings in shares of BrightSpring Health Services by 49.1% in the 4th quarter. Sea Cliff Partners Management LP now owns 1,735,150 shares of the company's stock worth $29,550,000 after purchasing an additional 571,437 shares in the last quarter. T. Rowe Price Investment Management Inc. acquired a new stake in BrightSpring Health Services during the fourth quarter valued at approximately $26,958,000. Integral Health Asset Management LLC boosted its holdings in BrightSpring Health Services by 90.0% during the fourth quarter. Integral Health Asset Management LLC now owns 950,000 shares of the company's stock worth $16,178,000 after buying an additional 450,000 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in BrightSpring Health Services by 31.6% during the fourth quarter. Millennium Management LLC now owns 575,918 shares of the company's stock worth $9,808,000 after buying an additional 138,352 shares in the last quarter.

BrightSpring Health Services Stock Up 3.8%

Shares of NASDAQ BTSG traded up $0.91 during mid-day trading on Friday, reaching $24.87. The company had a trading volume of 2,847,327 shares, compared to its average volume of 2,666,084. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.34 and a current ratio of 1.76. The company has a market capitalization of $4.41 billion, a price-to-earnings ratio of 80.23 and a beta of 2.25. The stock has a fifty day moving average of $21.54 and a two-hundred day moving average of $20.49. BrightSpring Health Services, Inc. has a 12-month low of $11.96 and a 12-month high of $25.57.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $3.15 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same quarter in the prior year, the business earned $0.10 EPS. The company'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. As a group, equities research analysts expect that BrightSpring Health Services, Inc. will post 0.59 EPS for the current year.

Analysts Set New Price Targets

BTSG has been the subject of a number of recent research reports. Wells Fargo & Company increased their price objective on BrightSpring Health Services from $25.00 to $27.00 and gave the company an "overweight" rating in a research report on Tuesday, May 13th. TD Cowen began coverage on BrightSpring Health Services in a report on Monday, June 23rd. They set a "buy" rating and a $37.00 target price for the company. Cowen reiterated a "buy" rating on shares of BrightSpring Health Services in a research report on Monday, August 4th. Morgan Stanley lifted their price target on BrightSpring Health Services from $20.00 to $25.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Finally, Wall Street Zen lowered shares of BrightSpring Health Services from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $25.67.

Insider Transactions at BrightSpring Health Services

In other BrightSpring Health Services news, insider Jon B. Rousseau sold 531,840 shares of the company's 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 transaction, the insider directly owned 1,184,133 shares of the company's stock, valued at $25,754,892.75. This represents a 30.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Phoenix Aggregator L.P. Kkr sold 13,288,101 shares of the firm's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $21.15, for a total value of $281,043,336.15. Following the sale, the insider directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,919,941 shares of company stock worth $337,025,856 in the last 90 days. Corporate insiders own 3.40% of the company's stock.

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.