Navellier & Associates Inc. Buys Shares of 146,048 BrightSpring Health Services, Inc. $BTSG

Navellier & Associates Inc. bought a new stake in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) during the second quarter, HoldingsChannel.com reports. The fund bought 146,048 shares of the company’s stock, valued at approximately $10,185,000. BrightSpring Health Services makes up about 0.8% of Navellier & Associates Inc.’s holdings, making the stock its 27th largest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of America Corp DE raised its holdings in BrightSpring Health Services by 48.7% during the 1st quarter. Bank of America Corp DE now owns 1,534,154 shares of the company’s stock worth $65,370,000 after buying an additional 502,786 shares during the period. New York State Teachers Retirement System acquired a new position in shares of BrightSpring Health Services in the fourth quarter valued at approximately $1,311,000. Ausbil Investment Management Ltd acquired a new position in shares of BrightSpring Health Services in the second quarter valued at approximately $2,005,000. Bellars Harris Wealth Management LLC bought a new stake in shares of BrightSpring Health Services during the second quarter worth $4,394,000. Finally, Wealthstar Advisors LLC bought a new stake in shares of BrightSpring Health Services during the first quarter worth $1,525,000.

BrightSpring Health Services Price Performance

NASDAQ BTSG opened at $59.13 on Friday. The firm’s 50 day moving average is $65.91 and its 200-day moving average is $54.81. The company has a quick ratio of 1.22, a current ratio of 1.59 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $11.70 billion, a PE ratio of 35.62, a price-to-earnings-growth ratio of 0.73 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.

BrightSpring Health Services (NASDAQ:BTSG) last announced its earnings results on Friday, July 31st. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.40 by $0.05. The business had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.66 billion. BrightSpring Health Services had a net margin of 2.55% and a return on equity of 16.73%. The firm’s revenue was up 23.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.22 earnings per share. Equities research analysts anticipate that BrightSpring Health Services, Inc. will post 1.82 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on BTSG. KeyCorp reaffirmed an “overweight” rating on shares of BrightSpring Health Services in a research report on Monday, August 3rd. BMO Capital Markets set a $70.00 target price on BrightSpring Health Services in a report on Thursday, May 21st. Wall Street Zen downgraded BrightSpring Health Services from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 23rd. Raymond James Financial started coverage on BrightSpring Health Services in a report on Thursday, July 9th. They issued an “outperform” rating and a $80.00 price target on the stock. Finally, Morgan Stanley upped their price objective on BrightSpring Health Services from $71.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating and eighteen have issued a Buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $70.71.

Insider Activity

In other news, insider Lisa A. Nalley sold 35,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $58.75, for a total value of $2,056,250.00. Following the completion of the transaction, the insider owned 131,948 shares in the company, valued at $7,751,945. This trade represents a 20.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jon B. Rousseau sold 130,000 shares of BrightSpring Health Services stock in a transaction dated 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 in the company, valued at approximately $70,177,051.25. This represents a 9.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 2.80% of the company’s stock.

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.