BrightSpring Health Services (NASDAQ:BTSG) Insider Sells $7,637,500.00 in Stock

BrightSpring Health Services, Inc. (NASDAQ:BTSG) insider Jon Rousseau sold 130,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $58.75, for a total transaction of $7,637,500.00. Following the completion of the transaction, the insider directly 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 SEC, which is available through the SEC website.

BrightSpring Health Services Stock Performance

Shares of BTSG stock opened at $57.40 on Monday. The stock has a market capitalization of $11.32 billion, a price-to-earnings ratio of 40.71, a PEG ratio of 0.74 and a beta of 1.87. The company’s fifty day simple moving average is $51.25 and its two-hundred day simple moving average is $43.07. BrightSpring Health Services, Inc. has a 1 year low of $19.01 and a 1 year high of $62.11. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.74 and a quick ratio of 1.38.

BrightSpring Health Services (NASDAQ:BTSG) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.10. BrightSpring Health Services had a return on equity of 14.63% and a net margin of 2.27%.The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same period in the previous year, the business earned $0.14 earnings per share. The firm’s quarterly revenue was up 25.6% compared to the same quarter last year. As a group, analysts anticipate that BrightSpring Health Services, Inc. will post 1.67 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. NBC Securities Inc. purchased a new position in shares of BrightSpring Health Services in the fourth quarter worth about $29,000. Salomon & Ludwin LLC bought a new stake in shares of BrightSpring Health Services in the 4th quarter valued at about $30,000. GHP Investment Advisors Inc. bought a new position in BrightSpring Health Services during the 1st quarter worth approximately $31,000. EverSource Wealth Advisors LLC bought a new position in BrightSpring Health Services during the 2nd quarter worth approximately $43,000. Finally, Meeder Asset Management Inc. purchased a new position in BrightSpring Health Services in the 1st quarter worth approximately $52,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. KeyCorp increased their price target on shares of BrightSpring Health Services from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Morgan Stanley upped their target price on shares of BrightSpring Health Services from $62.00 to $71.00 and gave the stock an “overweight” rating in a report on Tuesday, June 2nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $60.00 target price on shares of BrightSpring Health Services in a research note on Monday, May 4th. Mizuho raised their price target on shares of BrightSpring Health Services from $52.00 to $61.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Finally, TD Cowen boosted their price target on shares of BrightSpring Health Services from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $58.53.

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.