Bank of America Corp DE Sells 777,543 Shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG)

Bank of America Corp DE decreased its holdings in BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 56.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 612,061 shares of the company’s stock after selling 777,543 shares during the period. Bank of America Corp DE owned 0.35% of BrightSpring Health Services worth $10,423,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Quarry LP purchased a new stake in shares of BrightSpring Health Services in the fourth quarter worth about $29,000. R Squared Ltd purchased a new stake in shares of BrightSpring Health Services in the fourth quarter worth about $74,000. Envestnet Asset Management Inc. purchased a new stake in shares of BrightSpring Health Services in the fourth quarter worth about $188,000. KLP Kapitalforvaltning AS purchased a new stake in shares of BrightSpring Health Services in the fourth quarter worth about $206,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of BrightSpring Health Services in the fourth quarter worth about $234,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Wells Fargo & Company boosted their target price on BrightSpring Health Services from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 13th. UBS Group boosted their target price on BrightSpring Health Services from $22.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Morgan Stanley boosted their target price on BrightSpring Health Services from $20.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Finally, Mizuho set a $26.00 target price on BrightSpring Health Services in a research report on Monday, May 5th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.56.

BrightSpring Health Services Trading Up 1.4%

Shares of NASDAQ BTSG opened at $23.23 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.97 and a current ratio of 1.35. The business’s 50 day moving average price is $19.20 and its 200-day moving average price is $19.22. BrightSpring Health Services, Inc. has a fifty-two week low of $10.15 and a fifty-two week high of $24.82. The company has a market cap of $4.05 billion, a price-to-earnings ratio of -89.35 and a beta of 2.06.

BrightSpring Health Services (NASDAQ:BTSG) last issued its quarterly earnings results on Friday, May 2nd. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.10. BrightSpring Health Services had a positive return on equity of 4.16% and a negative net margin of 0.38%. The firm had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same period in the prior year, the business posted $0.12 earnings per share. The company’s revenue for the quarter was up 25.9% on a year-over-year basis. On average, sell-side analysts expect that BrightSpring Health Services, Inc. will post 0.59 earnings per share for the current year.

About BrightSpring Health Services

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.