Insider Selling: BrightSpring Health Services (NASDAQ:BTSG) Insider Sells 130,000 Shares of Stock

BrightSpring Health Services, Inc. (NASDAQ:BTSG) insider Jon Rousseau sold 130,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $58.75, for a total transaction of $7,637,500.00. Following the sale, the insider directly owned 1,194,503 shares of the company’s stock, valued at $70,177,051.25. The trade was a 9.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

BrightSpring Health Services Stock Performance

Shares of BTSG stock remained flat at $57.40 during mid-day trading on Friday. 7,973,138 shares of the stock were exchanged, compared to its average volume of 2,592,006. BrightSpring Health Services, Inc. has a twelve month low of $19.01 and a twelve month high of $62.11. The company has a quick ratio of 1.38, a current ratio of 1.74 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $11.13 billion, a P/E ratio of 40.71, a P/E/G ratio of 0.79 and a beta of 1.87. The company has a fifty day moving average price of $51.00 and a 200 day moving average price of $42.89.

BrightSpring Health Services (NASDAQ:BTSG) last released its quarterly earnings results on Friday, May 1st. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.10. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the company earned $0.14 earnings per share. On average, analysts forecast that BrightSpring Health Services, Inc. will post 1.67 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on BTSG shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $60.00 price objective on shares of BrightSpring Health Services in a report on Monday, May 4th. KeyCorp lifted their price objective on shares of BrightSpring Health Services from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Wall Street Zen downgraded shares of BrightSpring Health Services from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 23rd. Zacks Research raised shares of BrightSpring Health Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 3rd. Finally, Stephens lifted their price objective on shares of BrightSpring Health Services from $53.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $57.64.

Institutional Investors Weigh In On BrightSpring Health Services

A number of hedge funds have recently added to or reduced their stakes in the stock. Arete Wealth Advisors LLC bought a new stake in BrightSpring Health Services in the first quarter valued at $2,486,000. Bank of America Corp DE lifted its stake in BrightSpring Health Services by 48.7% in the first quarter. Bank of America Corp DE now owns 1,534,154 shares of the company’s stock valued at $65,370,000 after buying an additional 502,786 shares during the last quarter. Janus Henderson Group PLC lifted its stake in BrightSpring Health Services by 452.3% in the first quarter. Janus Henderson Group PLC now owns 228,941 shares of the company’s stock valued at $9,756,000 after buying an additional 187,485 shares during the last quarter. Smith Group Asset Management LLC lifted its stake in BrightSpring Health Services by 1.8% in the first quarter. Smith Group Asset Management LLC now owns 53,170 shares of the company’s stock valued at $2,266,000 after buying an additional 927 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in BrightSpring Health Services by 23.3% in the first quarter. EverSource Wealth Advisors LLC now owns 4,718 shares of the company’s stock valued at $201,000 after buying an additional 892 shares during the last quarter.

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.