50,344 Shares in BrightSpring Health Services, Inc. $BTSG Acquired by Formula Growth Ltd.

Formula Growth Ltd. acquired a new stake in BrightSpring Health Services, Inc. (NASDAQ:BTSG) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 50,344 shares of the company’s stock, valued at approximately $3,511,000. BrightSpring Health Services accounts for about 1.2% of Formula Growth Ltd.’s portfolio, making the stock its 19th biggest position.

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

Insider Transactions at BrightSpring Health Services

In related news, insider Jon B. Rousseau sold 130,000 shares of BrightSpring Health Services stock in a transaction that occurred 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 of the company’s stock, valued at $70,177,051.25. The trade was a 9.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 sale, the insider directly owned 131,948 shares of the company’s stock, valued at $7,751,945. This represents 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 Stock Performance

NASDAQ BTSG opened at $60.90 on Friday. The company has a market capitalization of $12.05 billion, a price-to-earnings ratio of 36.69, a PEG ratio of 0.74 and a beta of 1.88. The company has a quick ratio of 1.22, a current ratio of 1.59 and a debt-to-equity ratio of 1.06. BrightSpring Health Services, Inc. has a twelve month low of $22.86 and a twelve month high of $73.75. The stock has a fifty day simple moving average of $66.05 and a 200 day simple moving average of $54.78.

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. BrightSpring Health Services had a return on equity of 16.73% and a net margin of 2.55%.The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same period in the previous year, the business earned $0.22 EPS. The business’s quarterly revenue was up 23.0% compared to the same quarter last year. Sell-side analysts expect that BrightSpring Health Services, Inc. will post 1.82 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of BrightSpring Health Services in a research report on Friday, July 31st. TD Cowen lifted their price target on BrightSpring Health Services from $65.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. BTIG Research restated a “buy” rating and set a $90.00 price target on shares of BrightSpring Health Services in a report on Thursday, August 13th. Morgan Stanley upped their price objective on BrightSpring Health Services from $71.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Finally, Zacks Research upgraded shares of BrightSpring Health Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Two research analysts have rated the stock with a Strong Buy rating and eighteen have given a Buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus 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.