Bank of New York Mellon Corp Raises Stock Position in BrightSpring Health Services, Inc. $BTSG

Bank of New York Mellon Corp lifted its position in BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 11.1% during the 1st quarter, HoldingsChannel reports. The firm owned 732,537 shares of the company’s stock after acquiring an additional 72,939 shares during the quarter. Bank of New York Mellon Corp’s holdings in BrightSpring Health Services were worth $31,213,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of BTSG. AQR Capital Management LLC bought a new position in BrightSpring Health Services in the 1st quarter worth about $276,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of BrightSpring Health Services by 5.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,429 shares of the company’s stock valued at $587,000 after acquiring an additional 1,780 shares during the period. Millennium Management LLC grew its stake in BrightSpring Health Services by 0.3% in the first quarter. Millennium Management LLC now owns 577,885 shares of the company’s stock valued at $10,454,000 after purchasing an additional 1,967 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of BrightSpring Health Services by 11.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,280 shares of the company’s stock worth $2,664,000 after buying an additional 14,586 shares during the last quarter. Finally, Prudential Financial Inc. acquired a new position in shares of BrightSpring Health Services during the second quarter worth $351,000.

BrightSpring Health Services Stock Performance

NASDAQ:BTSG opened at $72.91 on Monday. BrightSpring Health Services, Inc. has a fifty-two week low of $19.01 and a fifty-two week high of $73.40. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.38 and a current ratio of 1.74. The company has a 50 day moving average price of $65.20 and a 200 day moving average price of $50.89. The stock has a market capitalization of $14.38 billion, a P/E ratio of 51.71, a PEG ratio of 0.92 and a beta of 1.79.

BrightSpring Health Services (NASDAQ:BTSG) last announced its quarterly earnings data on Friday, May 1st. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.10. The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.39 billion. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.14 earnings per share. Equities research analysts forecast that BrightSpring Health Services, Inc. will post 1.7 EPS for the current year.

Insiders Place Their Bets

In other BrightSpring Health Services news, insider Jon B. Rousseau sold 130,000 shares of the firm’s 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 $7,637,500.00. Following the sale, the insider owned 1,194,503 shares of the company’s stock, valued at approximately $70,177,051.25. This trade represents a 9.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lisa A. Nalley sold 35,000 shares of BrightSpring Health Services stock in a transaction 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 sale, the insider owned 131,948 shares in the company, valued at $7,751,945. This represents a 20.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

BTSG has been the subject of a number of research analyst reports. TD Cowen raised their price target on shares of BrightSpring Health Services from $65.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Raymond James Financial started coverage on BrightSpring Health Services in a research report on Thursday, July 9th. They issued an “outperform” rating and a $80.00 price objective on the stock. Wall Street Zen cut shares of BrightSpring Health Services from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 4th. Morgan Stanley boosted their price objective on BrightSpring Health Services from $71.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Finally, BTIG Research increased their target price on shares of BrightSpring Health Services from $65.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $70.12.

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.