Fifth Third Bancorp Acquires 102,363 Shares of BrightSpring Health Services, Inc. $BTSG

Fifth Third Bancorp grew its stake in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 76,964.7% during the 1st quarter, HoldingsChannel reports. The fund owned 102,496 shares of the company’s stock after buying an additional 102,363 shares during the period. Fifth Third Bancorp’s holdings in BrightSpring Health Services were worth $4,367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. NBC Securities Inc. purchased a new stake in shares of BrightSpring Health Services in the fourth quarter worth $29,000. Salomon & Ludwin LLC purchased a new position in BrightSpring Health Services in the 4th quarter worth $30,000. 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 position in BrightSpring Health Services in the 2nd quarter worth approximately $43,000. Finally, Farther Finance Advisors LLC raised its holdings in BrightSpring Health Services by 112.8% during the 4th quarter. Farther Finance Advisors LLC now owns 1,717 shares of the company’s stock valued at $64,000 after buying an additional 910 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research firms have commented on BTSG. BMO Capital Markets set a $70.00 price target on BrightSpring Health Services in a research report on Thursday, May 21st. Weiss Ratings raised shares of BrightSpring Health Services from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, May 4th. Morgan Stanley lifted their price target on BrightSpring Health Services from $71.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. KeyCorp upped their target price on shares of BrightSpring Health Services from $60.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Bank of America lifted their price target on shares of BrightSpring Health Services from $66.00 to $77.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $70.12.

BrightSpring Health Services Price Performance

Shares of BrightSpring Health Services stock opened at $70.69 on Friday. BrightSpring Health Services, Inc. has a one year low of $19.01 and a one year high of $72.22. The stock has a market cap of $13.95 billion, a P/E ratio of 50.14, a P/E/G ratio of 0.89 and a beta of 1.79. The stock’s fifty day moving average is $63.76 and its 200 day moving average is $49.64. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.38 and a current ratio of 1.74.

BrightSpring Health Services (NASDAQ:BTSG) last issued its quarterly earnings results on Friday, May 1st. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.10. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The business had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the previous year, the firm earned $0.14 earnings per share. The company’s revenue for the quarter was up 25.6% on a year-over-year basis. Sell-side analysts anticipate that BrightSpring Health Services, Inc. will post 1.7 earnings per share for the current year.

Insider Buying and Selling at BrightSpring Health Services

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

About BrightSpring Health Services

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.