Northern Trust Corp Boosts Holdings in BrightSpring Health Services, Inc. $BTSG

Northern Trust Corp raised its holdings in BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 5.8% in the 1st quarter, Holdings Channel reports. The institutional investor owned 566,623 shares of the company’s stock after acquiring an additional 31,289 shares during the period. Northern Trust Corp’s holdings in BrightSpring Health Services were worth $10,250,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BTSG. IFP Advisors Inc lifted its stake in shares of BrightSpring Health Services by 273,666.7% in the 1st quarter. IFP Advisors Inc now owns 8,213 shares of the company’s stock valued at $149,000 after purchasing an additional 8,210 shares in the last quarter. Highland Capital Management LLC acquired a new position in shares of BrightSpring Health Services in the 1st quarter valued at about $181,000. Envestnet Asset Management Inc. acquired a new position in shares of BrightSpring Health Services in the 4th quarter valued at about $188,000. Numerai GP LLC acquired a new position in shares of BrightSpring Health Services in the 4th quarter valued at about $252,000. Finally, ProShare Advisors LLC lifted its stake in shares of BrightSpring Health Services by 48.9% in the 4th quarter. ProShare Advisors LLC now owns 15,165 shares of the company’s stock valued at $258,000 after purchasing an additional 4,980 shares in the last quarter.

BrightSpring Health Services Stock Performance

BrightSpring Health Services stock opened at $24.13 on Friday. The stock’s 50 day moving average price is $21.84 and its 200 day moving average price is $20.63. The firm has a market capitalization of $4.27 billion, a PE ratio of 77.84 and a beta of 2.27. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.34 and a current ratio of 1.76. BrightSpring Health Services, Inc. has a one year low of $12.74 and a one year high of $25.57.

BrightSpring Health Services (NASDAQ:BTSG) last released its quarterly earnings results on Friday, August 1st. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.19 by $0.03. The firm had revenue of $3.15 billion for the quarter, compared to analyst estimates of $2.99 billion. BrightSpring Health Services had a return on equity of 9.29% and a net margin of 0.55%.BrightSpring Health Services’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 EPS. BrightSpring Health Services has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that BrightSpring Health Services, Inc. will post 0.59 EPS for the current fiscal year.

Insider Activity at BrightSpring Health Services

In other BrightSpring Health Services news, major shareholder Phoenix Aggregator L.P. Kkr sold 2,100,000 shares of BrightSpring Health Services stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $21.15, for a total transaction of $44,415,000.00. Following the sale, the insider directly owned 77,096,337 shares in the company, valued at $1,630,587,527.55. The trade was a 2.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jon B. Rousseau sold 531,840 shares of BrightSpring Health Services stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $21.75, for a total value of $11,567,520.00. Following the sale, the insider owned 1,184,133 shares in the company, valued at $25,754,892.75. This represents a 30.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,919,941 shares of company stock worth $337,025,856 over the last 90 days. 3.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Wall Street Zen lowered BrightSpring Health Services from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 26th. Morgan Stanley lifted their price objective on BrightSpring Health Services from $20.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Wells Fargo & Company lifted their price objective on BrightSpring Health Services from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Tuesday, May 13th. TD Cowen assumed coverage on BrightSpring Health Services in a research note on Monday, June 23rd. They issued a “buy” rating and a $37.00 price objective on the stock. Finally, Cowen reaffirmed a “buy” rating on shares of BrightSpring Health Services in a research note on Monday, August 4th. Ten research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $25.67.

BrightSpring Health Services Company Profile

BrightSpring Health Services, Inc operates a home and community-based healthcare services platform in the United States. The company's platform focuses on delivering pharmacy and provider services, including clinical and supportive care in home and community settings to Medicare, Medicaid, and insured populations.