Janney Montgomery Scott LLC Has $363,000 Holdings in BrightSpring Health Services, Inc. $BTSG

Janney Montgomery Scott LLC lessened its position in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 57.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,519 shares of the company’s stock after selling 11,499 shares during the period. Janney Montgomery Scott LLC’s holdings in BrightSpring Health Services were worth $363,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BTSG. NBC Securities Inc. acquired a new stake in BrightSpring Health Services in the 4th quarter valued at $29,000. Salomon & Ludwin LLC bought a new stake in BrightSpring Health Services in the 4th quarter valued at $30,000. GHP Investment Advisors Inc. acquired a new stake in shares of BrightSpring Health Services during the 1st quarter worth about $31,000. EverSource Wealth Advisors LLC acquired a new stake in BrightSpring Health Services during the second quarter worth approximately $43,000. Finally, Farther Finance Advisors LLC boosted its stake in BrightSpring Health Services by 112.8% in the 4th quarter. Farther Finance Advisors LLC now owns 1,717 shares of the company’s stock valued at $64,000 after purchasing an additional 910 shares during the period.

Insider Transactions at BrightSpring Health Services

In other news, insider Jon B. Rousseau sold 130,000 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $58.75, for a total transaction of $7,637,500.00. Following the completion of the sale, the insider directly owned 1,194,503 shares of the company’s stock, valued at $70,177,051.25. The trade was a 9.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Lisa A. Nalley sold 35,000 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 $2,056,250.00. Following the completion of the sale, the insider directly 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 SEC filing for this sale provides additional information. 2.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on BTSG shares. TD Cowen boosted their price objective on shares of BrightSpring Health Services from $65.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Wells Fargo & Company lifted their target price on BrightSpring Health Services from $61.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday. Zacks Research downgraded shares of BrightSpring Health Services from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Wall Street Zen lowered shares of BrightSpring Health Services from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 4th. Finally, UBS Group raised their target price on BrightSpring Health Services from $63.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $70.12.

BrightSpring Health Services Stock Up 3.7%

Shares of NASDAQ BTSG opened at $70.69 on Friday. The firm has a market cap of $13.95 billion, a PE ratio of 50.14, a P/E/G ratio of 0.86 and a beta of 1.79. The company’s fifty day simple moving average is $63.76 and its 200 day simple moving average is $49.64. 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 12-month low of $19.01 and a 12-month high of $72.22.

BrightSpring Health Services (NASDAQ:BTSG) last issued its earnings results on Friday, May 1st. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same period in the previous year, the company posted $0.14 EPS. The firm’s revenue was up 25.6% compared to the same quarter last year. As a group, sell-side analysts forecast that BrightSpring Health Services, Inc. will post 1.7 earnings per share for the current fiscal year.

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.