709,187 Shares in Bright Horizons Family Solutions Inc. $BFAM Purchased by Norges Bank

Norges Bank purchased a new position in shares of Bright Horizons Family Solutions Inc. (NYSE:BFAM) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 709,187 shares of the company’s stock, valued at approximately $87,648,000. Norges Bank owned approximately 1.25% of Bright Horizons Family Solutions at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Cetera Investment Advisers boosted its holdings in shares of Bright Horizons Family Solutions by 13.8% in the 1st quarter. Cetera Investment Advisers now owns 6,175 shares of the company’s stock valued at $784,000 after purchasing an additional 749 shares in the last quarter. LPL Financial LLC lifted its position in shares of Bright Horizons Family Solutions by 16.8% during the 1st quarter. LPL Financial LLC now owns 46,787 shares of the company’s stock worth $5,944,000 after buying an additional 6,719 shares during the last quarter. Natixis Advisors LLC boosted its stake in Bright Horizons Family Solutions by 24.5% in the first quarter. Natixis Advisors LLC now owns 27,587 shares of the company’s stock valued at $3,505,000 after buying an additional 5,436 shares in the last quarter. US Bancorp DE grew its position in Bright Horizons Family Solutions by 3.5% in the first quarter. US Bancorp DE now owns 11,123 shares of the company’s stock valued at $1,413,000 after acquiring an additional 379 shares during the last quarter. Finally, Jefferies Financial Group Inc. bought a new position in Bright Horizons Family Solutions in the first quarter valued at about $311,000.

Bright Horizons Family Solutions Stock Performance

Shares of BFAM stock opened at $104.00 on Friday. The firm has a 50 day moving average of $101.19 and a 200-day moving average of $112.94. The company has a market cap of $5.88 billion, a price-to-earnings ratio of 29.89, a price-to-earnings-growth ratio of 1.43 and a beta of 1.41. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.52. Bright Horizons Family Solutions Inc. has a 52 week low of $91.49 and a 52 week high of $132.99.

Bright Horizons Family Solutions (NYSE:BFAM) last issued its earnings results on Thursday, October 30th. The company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.25. The business had revenue of $802.81 million for the quarter, compared to analyst estimates of $781.16 million. Bright Horizons Family Solutions had a net margin of 6.98% and a return on equity of 17.07%. Bright Horizons Family Solutions’s revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.11 earnings per share. Bright Horizons Family Solutions has set its FY 2025 guidance at 4.480-4.530 EPS. On average, equities analysts forecast that Bright Horizons Family Solutions Inc. will post 3.61 earnings per share for the current year.

Insider Activity at Bright Horizons Family Solutions

In related news, COO Mary Lou Burke sold 1,000 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $108.52, for a total value of $108,520.00. Following the completion of the sale, the chief operating officer directly owned 26,449 shares of the company’s stock, valued at $2,870,245.48. The trade was a 3.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.21% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BFAM has been the subject of a number of research reports. BMO Capital Markets reissued an “outperform” rating and issued a $124.00 target price on shares of Bright Horizons Family Solutions in a report on Friday, October 31st. The Goldman Sachs Group reduced their price target on Bright Horizons Family Solutions from $146.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Morgan Stanley lowered their price objective on Bright Horizons Family Solutions from $104.00 to $96.00 and set an “underweight” rating for the company in a research note on Friday, October 24th. Robert W. Baird set a $136.00 target price on shares of Bright Horizons Family Solutions in a research report on Friday, October 31st. Finally, Wall Street Zen lowered shares of Bright Horizons Family Solutions from a “buy” rating to a “hold” rating in a report on Sunday, November 30th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Bright Horizons Family Solutions has a consensus rating of “Hold” and a consensus price target of $128.71.

About Bright Horizons Family Solutions

Bright Horizons Family Solutions Inc provides early education and childcare, back-up care, educational advisory, and other workplace solutions services for employers and families in the United States, Puerto Rico, the United Kingdom, the Netherlands, Australia, and India. The company operates in three segments: Full Service Center-Based Child Care, Back-Up Care, and Educational Advisory and Other Services.