Meeder Asset Management Inc. Buys Shares of 13,710 BrightSpring Health Services, Inc. $BTSG

Meeder Asset Management Inc. purchased a new position in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) in the 2nd quarter, Holdings Channel reports. The firm purchased 13,710 shares of the company’s stock, valued at approximately $956,000.

Other institutional investors also recently made changes to their positions in the company. NBC Securities Inc. purchased a new stake in shares of BrightSpring Health Services in the fourth quarter valued at $29,000. Salomon & Ludwin LLC acquired a new stake in shares of BrightSpring Health Services during the fourth quarter valued at $30,000. GHP Investment Advisors Inc. purchased a new stake in BrightSpring Health Services during the 1st quarter worth about $31,000. EverSource Wealth Advisors LLC purchased a new stake in BrightSpring Health Services during the 2nd quarter worth about $43,000. Finally, Farther Finance Advisors LLC raised its stake in 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 last quarter.

Insider Buying and Selling

In other BrightSpring Health Services news, insider Lisa A. Nalley sold 35,000 shares of the stock in a transaction that occurred 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 transaction, the insider owned 131,948 shares of the company’s stock, valued at $7,751,945. This trade represents a 20.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jon B. Rousseau sold 130,000 shares of BrightSpring Health Services stock in a transaction on Friday, June 5th. The shares were sold at an average price of $58.75, for a total transaction of $7,637,500.00. Following the completion of the transaction, the insider owned 1,194,503 shares in the company, valued at approximately $70,177,051.25. This trade represents a 9.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BTSG. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of BrightSpring Health Services in a research note on Friday, July 31st. Stephens boosted their price objective on shares of BrightSpring Health Services from $53.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $70.00 price objective on shares of BrightSpring Health Services in a research note on Monday, August 3rd. KeyCorp restated an “overweight” rating on shares of BrightSpring Health Services in a research report on Monday, August 3rd. Finally, Morgan Stanley lifted their target price on shares of BrightSpring Health Services from $71.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating and eighteen have given a Buy rating to the stock. Based on data from MarketBeat, BrightSpring Health Services currently has a consensus rating of “Buy” and an average target price of $70.71.

BrightSpring Health Services Trading Down 1.5%

NASDAQ BTSG opened at $59.50 on Wednesday. The company has a market cap of $11.77 billion, a P/E ratio of 35.84, a P/E/G ratio of 0.75 and a beta of 1.88. BrightSpring Health Services, Inc. has a 12 month low of $22.86 and a 12 month high of $73.75. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.59 and a quick ratio of 1.22. The company has a 50-day moving average of $66.63 and a 200-day moving average of $53.77.

BrightSpring Health Services (NASDAQ:BTSG) last released its earnings results on Friday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.05. BrightSpring Health Services had a net margin of 2.55% and a return on equity of 16.73%. The business had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same period last year, the company earned $0.22 earnings per share. The company’s quarterly revenue was up 23.0% on a year-over-year basis. As a group, equities analysts predict that BrightSpring Health Services, Inc. will post 1.78 earnings per share for the current year.

BrightSpring Health Services Company Profile

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.