Victory Capital Management Inc. Acquires 615,280 Shares of BrightSpring Health Services, Inc. $BTSG

Victory Capital Management Inc. boosted its holdings in BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 551.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 726,878 shares of the company’s stock after purchasing an additional 615,280 shares during the quarter. Victory Capital Management Inc. owned about 0.40% of BrightSpring Health Services worth $21,487,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. CWM LLC boosted its position in shares of BrightSpring Health Services by 105.3% in the 3rd quarter. CWM LLC now owns 1,595 shares of the company’s stock worth $47,000 after purchasing an additional 818 shares in the last quarter. PNC Financial Services Group Inc. increased its position in BrightSpring Health Services by 13.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 9,282 shares of the company’s stock valued at $274,000 after buying an additional 1,121 shares in the last quarter. Amalgamated Bank increased its position in BrightSpring Health Services by 62.7% during the 3rd quarter. Amalgamated Bank now owns 3,041 shares of the company’s stock valued at $90,000 after buying an additional 1,172 shares in the last quarter. Covestor Ltd raised its stake in BrightSpring Health Services by 16.6% during the third quarter. Covestor Ltd now owns 8,567 shares of the company’s stock valued at $253,000 after buying an additional 1,218 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in BrightSpring Health Services by 77.1% in the third quarter. EverSource Wealth Advisors LLC now owns 3,261 shares of the company’s stock worth $96,000 after acquiring an additional 1,420 shares in the last quarter.

Analyst Ratings Changes

A number of research firms have recently commented on BTSG. BTIG Research reissued a “buy” rating and issued a $55.00 target price on shares of BrightSpring Health Services in a research note on Monday, March 2nd. KeyCorp raised shares of BrightSpring Health Services from a “sector weight” rating to an “overweight” rating and set a $45.00 price objective on the stock in a research report on Friday, December 12th. Zacks Research upgraded shares of BrightSpring Health Services from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 3rd. Wells Fargo & Company lifted their target price on shares of BrightSpring Health Services from $43.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Finally, Cantor Fitzgerald set a $49.00 price objective on shares of BrightSpring Health Services in a report on Monday, March 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $44.08.

BrightSpring Health Services Price Performance

NASDAQ BTSG opened at $42.23 on Tuesday. BrightSpring Health Services, Inc. has a one year low of $15.48 and a one year high of $44.87. The stock has a 50-day moving average of $39.59 and a 200 day moving average of $34.18. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.12 and a current ratio of 1.57. The company has a market capitalization of $8.17 billion, a price-to-earnings ratio of 47.99, a PEG ratio of 0.55 and a beta of 2.30.

BrightSpring Health Services (NASDAQ:BTSG) last posted its earnings results on Friday, February 27th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.01). BrightSpring Health Services had a net margin of 1.48% and a return on equity of 12.66%. The company had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the prior year, the company posted $0.11 EPS. BrightSpring Health Services’s revenue was up 29.3% on a year-over-year basis. On average, sell-side analysts forecast that BrightSpring Health Services, Inc. will post 0.59 EPS for the current year.

Insider Buying and Selling

In other news, insider Jon B. Rousseau sold 220,000 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total transaction of $9,053,000.00. Following the transaction, the insider directly owned 1,023,880 shares of the company’s stock, valued at $42,132,662. This represents a 17.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Jennifer A. Phipps sold 35,000 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total value of $1,440,250.00. Following the completion of the transaction, the chief financial officer owned 196,840 shares in the company, valued at approximately $8,099,966. This trade represents a 15.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 285,000 shares of company stock worth $11,727,750. 3.40% of the stock is owned by insiders.

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.