135,220 Shares in BrightSpring Health Services, Inc. (NASDAQ:BTSG) Acquired by Victory Capital Management Inc.

Key Points

• Victory Capital Management Inc. has acquired 135,220 shares of BrightSpring Health Services, valued at approximately $2.45 million, increasing its stake to 0.08% as of the latest SEC filing.
• BrightSpring Health Services recently reported a 25.9% increase in revenue year-over-year, totaling $2.88 billion, with earnings per share beating estimates at $0.19.
• The stock received a downgrade from Wall Street Zen from a "strong-buy" to a "buy" rating, while other analysts, including Morgan Stanley and Wells Fargo, have raised their target prices, suggesting a consensus rating of "Moderate Buy".

Victory Capital Management Inc. acquired a new stake in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 135,220 shares of the company's stock, valued at approximately $2,446,000. Victory Capital Management Inc. owned approximately 0.08% of BrightSpring Health Services as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in shares of BrightSpring Health Services by 2,526.5% in the 1st quarter. GAMMA Investing LLC now owns 14,472 shares of the company's stock valued at $262,000 after acquiring an additional 13,921 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in BrightSpring Health Services by 131.8% in the first quarter. New York State Common Retirement Fund now owns 37,918 shares of the company's stock valued at $686,000 after purchasing an additional 21,563 shares during the last quarter. Teacher Retirement System of Texas raised 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 during the last quarter. Rhumbline Advisers raised its holdings in BrightSpring Health Services by 4.8% in the 1st quarter. Rhumbline Advisers now owns 77,100 shares of the company's stock valued at $1,395,000 after acquiring an additional 3,517 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in BrightSpring Health Services during the 1st quarter worth approximately $561,000.

BrightSpring Health Services Price Performance

BTSG traded down $0.82 on Friday, reaching $19.84. The company had a trading volume of 2,804,214 shares, compared to its average volume of 2,026,808. The company has a fifty day moving average of $21.96 and a 200-day moving average of $20.47. The company has a market capitalization of $3.49 billion, a P/E ratio of 70.77 and a beta of 2.30. The company has a current ratio of 1.73, a quick ratio of 1.37 and a debt-to-equity ratio of 1.48. BrightSpring Health Services, Inc. has a one year low of $10.15 and a one year high of $25.57.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.19 by $0.03. The company had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $2.99 billion. BrightSpring Health Services had a return on equity of 7.76% and a net margin of 0.49%. The company's revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.10 earnings per share. As a group, equities research analysts anticipate that BrightSpring Health Services, Inc. will post 0.59 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on BTSG shares. Wall Street Zen downgraded shares of BrightSpring Health Services from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. Morgan Stanley boosted their price objective on shares of BrightSpring Health Services from $20.00 to $25.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Wells Fargo & Company boosted their price objective on shares of BrightSpring Health Services from $25.00 to $27.00 and gave the stock an "overweight" rating in a report on Tuesday, May 13th. TD Cowen initiated coverage on shares of BrightSpring Health Services in a research report on Monday, June 23rd. They issued a "buy" rating and a $37.00 price objective for the company. Finally, Mizuho set a $26.00 price objective on shares of BrightSpring Health Services in a research report on Monday, May 5th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $24.90.

Insider Buying and Selling at BrightSpring Health Services

In other news, major shareholder Phoenix Aggregator L.P. Kkr sold 13,288,101 shares of the stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $21.15, for a total value of $281,043,336.15. Following the transaction, the insider directly owned 79,671,883 shares of the company's stock, valued at $1,685,060,325.45. This represents a 14.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jon B. Rousseau sold 531,840 shares of the stock in a transaction on 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 owned 1,184,133 shares in the company, valued at $25,754,892.75. The trade was a 30.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,919,941 shares of company stock valued at $337,025,856 over the last three months. 3.40% of the stock is owned by company insiders.

BrightSpring Health Services 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.