First Trust Advisors LP Increases Stake in BrightSpring Health Services, Inc. $BTSG

First Trust Advisors LP lifted its stake in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 11.1% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 534,636 shares of the company’s stock after purchasing an additional 53,200 shares during the period. First Trust Advisors LP’s holdings in BrightSpring Health Services were worth $22,781,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in BTSG. NBC Securities Inc. acquired a new stake in BrightSpring Health Services in the fourth quarter valued at approximately $29,000. Salomon & Ludwin LLC acquired a new position in BrightSpring Health Services during the 4th quarter worth approximately $30,000. GHP Investment Advisors Inc. acquired a new position in BrightSpring Health Services during the 1st quarter worth approximately $31,000. EverSource Wealth Advisors LLC purchased a new stake in shares of BrightSpring Health Services in the 2nd quarter valued at approximately $43,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of BrightSpring Health Services in the 1st quarter valued at approximately $52,000.

Insider Buying and Selling at BrightSpring Health Services

In related news, insider Jon B. Rousseau sold 130,000 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $58.75, for a total value of $7,637,500.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lisa A. Nalley sold 35,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $58.75, for a total transaction of $2,056,250.00. Following the completion of the transaction, the insider owned 131,948 shares of the company’s stock, valued at $7,751,945. This represents a 20.96% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.80% of the stock is owned by company insiders.

BrightSpring Health Services Stock Down 4.3%

BTSG stock opened at $69.37 on Thursday. 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, Inc. has a twelve month low of $19.01 and a twelve month high of $73.75. The company’s 50 day moving average is $66.05 and its two-hundred day moving average is $51.55. The stock has a market cap of $13.69 billion, a P/E ratio of 49.20, a PEG ratio of 0.92 and a beta of 1.79.

BrightSpring Health Services (NASDAQ:BTSG) last issued its quarterly earnings data on Friday, May 1st. The company reported $0.39 earnings per share 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 business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the previous year, the firm earned $0.14 EPS. The company’s revenue was up 25.6% compared to the same quarter last year. Research analysts expect that BrightSpring Health Services, Inc. will post 1.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on BTSG shares. The Goldman Sachs Group initiated coverage on shares of BrightSpring Health Services in a report on Monday, June 8th. They issued a “buy” rating and a $71.00 price objective on the stock. BMO Capital Markets set a $70.00 target price on shares of BrightSpring Health Services in a research note on Thursday, May 21st. Morgan Stanley increased their target price on BrightSpring Health Services from $71.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Wall Street Zen cut BrightSpring Health Services from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 4th. Finally, Stephens lifted their price target on BrightSpring Health Services from $53.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $70.12.

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.