Hennessy Advisors Inc. Sells 293,500 Shares of BrightSpring Health Services, Inc. $BTSG

Hennessy Advisors Inc. decreased its holdings in BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 60.1% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 194,800 shares of the company’s stock after selling 293,500 shares during the period. Hennessy Advisors Inc.’s holdings in BrightSpring Health Services were worth $13,585,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allworth Financial LP bought a new stake in BrightSpring Health Services in the second quarter worth $28,000. GHP Investment Advisors Inc. purchased a new stake in BrightSpring Health Services during the first quarter valued at about $31,000. EverSource Wealth Advisors LLC bought a new position in shares of BrightSpring Health Services during the second quarter valued at about $43,000. Kilter Group LLC bought a new position in shares of BrightSpring Health Services during the second quarter valued at about $50,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of BrightSpring Health Services in the first quarter worth about $52,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on BTSG shares. Stephens boosted their target price on BrightSpring Health Services from $53.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. The Goldman Sachs Group began coverage on BrightSpring Health Services in a research note on Monday, June 8th. They issued a “buy” rating and a $71.00 price target on the stock. KeyCorp reiterated an “overweight” rating on shares of BrightSpring Health Services in a research report on Monday, August 3rd. Zacks Research upgraded shares of BrightSpring Health Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $70.00 target price on shares of BrightSpring Health Services in a report on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating and eighteen have issued a Buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $70.71.

BrightSpring Health Services Stock Down 2.9%

NASDAQ BTSG opened at $59.13 on Friday. BrightSpring Health Services, Inc. has a 1 year low of $22.86 and a 1 year high of $73.75. The stock has a market capitalization of $11.70 billion, a PE ratio of 35.62, a PEG ratio of 0.71 and a beta of 1.88. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.59 and a quick ratio of 1.22. The business’s 50-day moving average is $65.91 and its 200 day moving average is $54.81.

BrightSpring Health Services (NASDAQ:BTSG) last released its quarterly earnings data on Friday, July 31st. The company reported $0.45 earnings per share 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 return on equity of 16.73% and a net margin of 2.55%.The business’s revenue was up 23.0% on a year-over-year basis. During the same quarter last year, the business posted $0.22 EPS. Sell-side analysts forecast that BrightSpring Health Services, Inc. will post 1.82 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Lisa A. Nalley sold 35,000 shares of the firm’s stock in a transaction on 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 sale, the insider owned 131,948 shares of the company’s stock, valued at $7,751,945. This trade represents a 20.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jon B. Rousseau sold 130,000 shares of the firm’s 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 completion of the sale, 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 position. Additional details regarding this sale are available in the official SEC disclosure. 2.80% of the stock is owned by corporate insiders.

BrightSpring Health Services Company 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.