Hsbc Holdings PLC Takes $24.75 Million Position in BrightSpring Health Services, Inc. $BTSG

Hsbc Holdings PLC acquired a new stake in BrightSpring Health Services, Inc. (NASDAQ:BTSG) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 356,026 shares of the company’s stock, valued at approximately $24,749,000.

A number of other hedge funds also recently added to or reduced their stakes in BTSG. Allworth Financial LP bought a new position in BrightSpring Health Services during the 2nd quarter worth about $28,000. NBC Securities Inc. bought a new stake in shares of BrightSpring Health Services in the 4th quarter valued at about $29,000. GHP Investment Advisors Inc. bought a new stake in shares of BrightSpring Health Services in the 1st quarter valued at about $31,000. EverSource Wealth Advisors LLC purchased a new stake in shares of BrightSpring Health Services in the 2nd quarter worth approximately $43,000. Finally, Kilter Group LLC purchased a new stake in shares of BrightSpring Health Services in the 2nd quarter worth approximately $50,000.

Insider Activity at BrightSpring Health Services

In other news, insider Jon B. Rousseau sold 130,000 shares of the company’s stock in a transaction 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 transaction, the insider directly owned 1,194,503 shares of the company’s stock, valued at approximately $70,177,051.25. This represents a 9.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Lisa A. Nalley sold 35,000 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $58.75, for a total value of $2,056,250.00. Following the sale, the insider owned 131,948 shares of the company’s stock, valued at approximately $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 0.7%

NASDAQ:BTSG opened at $60.90 on Friday. BrightSpring Health Services, Inc. has a fifty-two week low of $22.86 and a fifty-two week high of $73.75. The stock has a market capitalization of $12.05 billion, a P/E ratio of 36.69, a P/E/G ratio of 0.74 and a beta of 1.88. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.22 and a current ratio of 1.59. The company’s 50-day simple moving average is $66.05 and its 200-day simple moving average is $54.78.

BrightSpring Health Services (NASDAQ:BTSG) last issued its quarterly earnings data on Friday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.05. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.66 billion. BrightSpring Health Services had a net margin of 2.55% and a return on equity of 16.73%. The company’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.22 EPS. On average, equities analysts anticipate that BrightSpring Health Services, Inc. will post 1.82 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BTSG. KeyCorp reissued an “overweight” rating on shares of BrightSpring Health Services in a report on Monday, August 3rd. BTIG Research restated a “buy” rating and set a $90.00 target price on shares of BrightSpring Health Services in a report on Thursday, August 13th. The Goldman Sachs Group started coverage on BrightSpring Health Services in a research report on Monday, June 8th. They set a “buy” rating and a $71.00 target price on the stock. Stephens lifted their price target on BrightSpring Health Services from $53.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Finally, Guggenheim initiated coverage on BrightSpring Health Services in a research report on Monday, July 13th. They issued a “buy” rating and a $81.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating and eighteen have given a Buy rating to the company. According to data from MarketBeat.com, BrightSpring Health Services presently has a consensus rating of “Buy” and an average target price of $70.71.

BrightSpring Health Services 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.