MRA Advisory Group Purchases Shares of 12,747 BrightSpring Health Services, Inc. $BTSG

MRA Advisory Group purchased a new position in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) in the second quarter, according to its most recent filing with the SEC. The firm purchased 12,747 shares of the company’s stock, valued at approximately $889,000.

Several other hedge funds have also recently made changes to their positions in BTSG. GAMMA Investing LLC lifted its stake in shares of BrightSpring Health Services by 27.9% in the 2nd quarter. GAMMA Investing LLC now owns 3,721 shares of the company’s stock valued at $260,000 after purchasing an additional 811 shares during the period. Avior Wealth Management LLC acquired a new stake in BrightSpring Health Services during the second quarter worth approximately $201,000. Harbor Investment Advisory LLC acquired a new stake in BrightSpring Health Services during the second quarter worth approximately $91,000. Militia Capital Management LLC bought a new stake in BrightSpring Health Services in the first quarter worth approximately $568,000. Finally, Arete Wealth Advisors LLC bought a new stake in BrightSpring Health Services in the first quarter worth approximately $2,486,000.

BrightSpring Health Services Stock Up 3.0%

BTSG stock opened at $62.43 on Friday. The stock’s 50 day simple moving average is $66.52 and its 200 day simple moving average is $52.66. BrightSpring Health Services, Inc. has a fifty-two week low of $20.51 and a fifty-two week high of $73.75. 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 has a market cap of $12.35 billion, a P/E ratio of 37.61, a price-to-earnings-growth ratio of 0.74 and a beta of 1.88.

BrightSpring Health Services (NASDAQ:BTSG) last announced its quarterly 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. The business had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.66 billion. BrightSpring Health Services had a return on equity of 16.73% and a net margin of 2.55%.The company’s quarterly revenue was up 23.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.22 earnings per share. On average, research analysts expect that BrightSpring Health Services, Inc. will post 1.78 earnings per share for the current fiscal year.

Analyst Ratings Changes

BTSG has been the topic of several recent analyst reports. KeyCorp reissued an “overweight” rating on shares of BrightSpring Health Services in a research note on Monday. The Goldman Sachs Group initiated coverage on shares of BrightSpring Health Services in a research report on Monday, June 8th. They set a “buy” rating and a $71.00 price objective for the company. BMO Capital Markets set a $70.00 price objective on shares of BrightSpring Health Services in a research note on Thursday, May 21st. Wall Street Zen downgraded shares of BrightSpring Health Services from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 4th. Finally, Wells Fargo & Company increased their target price on shares of BrightSpring Health Services from $61.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating and eighteen have assigned a Buy rating to the stock. Based on data from MarketBeat, BrightSpring Health Services currently has an average rating of “Buy” and an average target price of $70.71.

Insiders Place Their Bets

In related news, insider Jon B. Rousseau sold 130,000 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $58.75, for a total value of $7,637,500.00. Following the transaction, the insider directly owned 1,194,503 shares in the company, valued at $70,177,051.25. This trade represents a 9.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Lisa A. Nalley sold 35,000 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 $2,056,250.00. Following the completion of the sale, the insider directly owned 131,948 shares of the company’s stock, valued at approximately $7,751,945. The trade was a 20.96% decrease in their position. The SEC filing for this sale provides additional information. 2.80% of the stock is owned by company insiders.

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.