BrightSpring Health Services (NASDAQ:BTSG) Trading Down 4.9% – Here’s What Happened

BrightSpring Health Services, Inc. (NASDAQ:BTSG) shares dropped 4.9% on Tuesday . The stock traded as low as $58.61 and last traded at $58.4510. 410,014 shares were traded during trading, a decline of 86% from the average daily volume of 3,013,340 shares. The stock had previously closed at $61.45.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BTSG shares. Wall Street Zen cut shares of BrightSpring Health Services from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 4th. Raymond James Financial assumed coverage on shares of BrightSpring Health Services in a report on Thursday, July 9th. They issued an “outperform” rating and a $80.00 price target on the stock. UBS Group upped their price objective on BrightSpring Health Services from $63.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $70.00 target price on shares of BrightSpring Health Services in a research report on Monday, August 3rd. Finally, KeyCorp restated an “overweight” rating on shares of BrightSpring Health Services in a research note on Monday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating and eighteen have issued a Buy rating to the company. Based on data from MarketBeat, BrightSpring Health Services presently has an average rating of “Buy” and an average target price of $70.71.

BrightSpring Health Services Stock Down 5.1%

The company has a current ratio of 1.59, a quick ratio of 1.22 and a debt-to-equity ratio of 1.06. The firm has a market cap of $11.54 billion, a P/E ratio of 35.15, a price-to-earnings-growth ratio of 0.76 and a beta of 1.88. The stock’s fifty day moving average is $66.55 and its two-hundred day moving average is $52.91.

BrightSpring Health Services (NASDAQ:BTSG) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.40 by $0.05. The firm had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.66 billion. BrightSpring Health Services had a net margin of 2.55% and a return on equity of 16.73%. The business’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same period last year, the firm earned $0.22 EPS. As a group, research analysts anticipate that BrightSpring Health Services, Inc. will post 1.78 earnings per share for the current year.

Insider Buying and Selling at BrightSpring Health Services

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in BrightSpring Health Services by 30.5% in the fourth quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company’s stock valued at $469,385,000 after purchasing an additional 2,928,953 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in BrightSpring Health Services by 4.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,662,236 shares of the company’s stock worth $399,302,000 after buying an additional 478,436 shares in the last quarter. Invesco Ltd. increased its holdings in shares of BrightSpring Health Services by 13.4% in the 4th quarter. Invesco Ltd. now owns 10,595,232 shares of the company’s stock worth $396,791,000 after buying an additional 1,248,107 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of BrightSpring Health Services by 21.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,123,865 shares of the company’s stock worth $229,339,000 after buying an additional 1,091,757 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of BrightSpring Health Services by 12.1% during the 2nd quarter. Alliancebernstein L.P. now owns 5,450,085 shares of the company’s stock valued at $128,568,000 after buying an additional 588,642 shares in the last quarter.

BrightSpring Health Services Company 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.