Westover Capital Advisors LLC Takes Position in BrightSpring Health Services, Inc. $BTSG

Key Points

• Westover Capital Advisors initiated a new position in BrightSpring Health Services, buying 18,609 shares worth about $697,000 in the fourth quarter.
• BrightSpring’s latest quarterly results beat expectations, with EPS of $0.39 versus the $0.29 estimate and revenue of $3.61 billion, up 25.6% year over year.
• Wall Street sentiment remains positive: analysts have an average “Buy” rating on BTSG, with several firms raising price targets and the consensus target at $57.

Westover Capital Advisors LLC bought a new stake in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 18,609 shares of the company's stock, valued at approximately $697,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. NBC Securities Inc. bought a new stake in shares of BrightSpring Health Services in the 4th quarter valued at about $29,000. Salomon & Ludwin LLC bought a new stake in shares of BrightSpring Health Services in the 4th quarter valued at about $30,000. Farther Finance Advisors LLC raised its holdings in shares of BrightSpring Health Services by 112.8% in the 4th quarter. Farther Finance Advisors LLC now owns 1,717 shares of the company's stock valued at $64,000 after purchasing an additional 910 shares during the period. EverSource Wealth Advisors LLC bought a new stake in shares of BrightSpring Health Services in the 2nd quarter valued at about $43,000. Finally, CWM LLC raised its holdings in shares of BrightSpring Health Services by 17.5% in the 4th quarter. CWM LLC now owns 1,874 shares of the company's stock valued at $70,000 after purchasing an additional 279 shares during the period.

BrightSpring Health Services Price Performance

Shares of BTSG opened at $58.50 on Monday. BrightSpring Health Services, Inc. has a 12 month low of $19.01 and a 12 month high of $59.65. The firm's 50 day moving average is $47.64 and its 200-day moving average is $41.17. The stock has a market capitalization of $11.34 billion, a PE ratio of 41.49, a P/E/G ratio of 0.77 and a beta of 1.71. The company has a current ratio of 1.74, a quick ratio of 1.38 and a debt-to-equity ratio of 1.24.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last announced its earnings results on Friday, May 1st. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.29 by $0.10. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The company had revenue of $3.61 billion for the quarter, compared to analysts' expectations of $3.39 billion. During the same period last year, the firm earned $0.14 earnings per share. The business's revenue for the quarter was up 25.6% on a year-over-year basis. Equities research analysts forecast that BrightSpring Health Services, Inc. will post 1.64 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. BTIG Research upped their target price on shares of BrightSpring Health Services from $55.00 to $65.00 and gave the company a "buy" rating in a report 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. Stephens increased their price target on shares of BrightSpring Health Services from $53.00 to $64.00 and gave the company an "overweight" rating in a report on Monday, May 4th. UBS Group increased their price target 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, Wells Fargo & Company increased their price target on shares of BrightSpring Health Services from $50.00 to $61.00 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 given a Buy rating to the company. According to data from MarketBeat.com, BrightSpring Health Services presently has an average rating of "Buy" and an average price target of $57.00.

Insider Transactions at BrightSpring Health Services

In other news, insider Jon B. Rousseau sold 220,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $41.15, for a total transaction of $9,053,000.00. Following the transaction, the insider directly owned 1,023,880 shares of the company's stock, valued at approximately $42,132,662. This trade represents a 17.69% 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 hyperlink. Also, insider Lisa A. Nalley sold 30,000 shares of the firm's stock in a transaction that occurred 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 transaction, the insider directly owned 110,594 shares in the company, valued at $4,550,943.10. This represents a 21.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 285,000 shares of company stock valued at $11,727,750. 2.80% of the stock is currently owned by company insiders.

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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