Bank of New York Mellon Corp Buys 72,939 Shares of BrightSpring Health Services, Inc. $BTSG

Bank of New York Mellon Corp raised its position in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 11.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 732,537 shares of the company’s stock after purchasing an additional 72,939 shares during the period. Bank of New York Mellon Corp owned 0.38% of BrightSpring Health Services worth $31,213,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of BTSG. Vanguard Group Inc. grew its stake in BrightSpring Health Services by 30.5% in the 4th quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company’s stock valued at $469,385,000 after buying an additional 2,928,953 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of BrightSpring Health Services by 936.4% during the second quarter. The Manufacturers Life Insurance Company now owns 2,276,583 shares of the company’s stock worth $53,705,000 after acquiring an additional 2,056,920 shares in the last quarter. State Street Corp lifted its position in shares of BrightSpring Health Services by 99.5% during the fourth quarter. State Street Corp now owns 4,033,149 shares of the company’s stock worth $151,041,000 after acquiring an additional 2,011,095 shares in the last quarter. Jane Street Group LLC boosted its holdings in shares of BrightSpring Health Services by 855.4% in the second quarter. Jane Street Group LLC now owns 2,076,730 shares of the company’s stock worth $48,990,000 after acquiring an additional 1,859,369 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of BrightSpring Health Services by 13.4% in the fourth quarter. Invesco Ltd. now owns 10,595,232 shares of the company’s stock worth $396,791,000 after acquiring an additional 1,248,107 shares during the period.

BrightSpring Health Services Stock Performance

BrightSpring Health Services stock opened at $72.91 on Monday. The firm has a fifty day simple moving average of $65.20 and a two-hundred day simple moving average of $50.89. The company has a quick ratio of 1.38, a current ratio of 1.74 and a debt-to-equity ratio of 1.24. BrightSpring Health Services, Inc. has a twelve month low of $19.01 and a twelve month high of $73.40. The company has a market capitalization of $14.38 billion, a PE ratio of 51.71, a P/E/G ratio of 0.92 and a beta of 1.79.

BrightSpring Health Services (NASDAQ:BTSG) last issued its earnings results on Friday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.10. The firm had revenue of $3.61 billion for 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 revenue was up 25.6% on a year-over-year basis. During the same quarter last year, the business earned $0.14 earnings per share. Research analysts expect that BrightSpring Health Services, Inc. will post 1.7 EPS for the current year.

Insider Transactions at BrightSpring Health Services

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BTSG shares. Wells Fargo & Company upped their target price on shares of BrightSpring Health Services from $61.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Wall Street Zen downgraded shares of BrightSpring Health Services from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 4th. Morgan Stanley boosted their price target on shares of BrightSpring Health Services from $71.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. The Goldman Sachs Group began coverage on shares of BrightSpring Health Services in a report on Monday, June 8th. They issued a “buy” rating and a $71.00 price target on the stock. Finally, Weiss Ratings upgraded BrightSpring Health Services from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $70.12.

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.