Hussman Strategic Advisors Inc. Takes $1.90 Million Position in BrightSpring Health Services, Inc. (NASDAQ:BTSG)

Hussman Strategic Advisors Inc. purchased a new stake in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 105,000 shares of the company’s stock, valued at approximately $1,899,000. Hussman Strategic Advisors Inc. owned approximately 0.06% of BrightSpring Health Services as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Quarry LP purchased a new position in shares of BrightSpring Health Services during the 4th quarter valued at $29,000. Highland Capital Management LLC acquired a new stake in shares of BrightSpring Health Services in the 1st quarter valued at $181,000. Envestnet Asset Management Inc. acquired a new stake in shares of BrightSpring Health Services in the 4th quarter valued at $188,000. KLP Kapitalforvaltning AS acquired a new stake in shares of BrightSpring Health Services in the 4th quarter valued at $206,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of BrightSpring Health Services in the 4th quarter valued at $234,000.

Insider Buying and Selling

In other news, insider Jon B. Rousseau sold 531,840 shares of the company’s stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $21.75, for a total transaction of $11,567,520.00. Following the transaction, the insider directly owned 1,184,133 shares in the company, valued at approximately $25,754,892.75. This represents a 30.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Phoenix Aggregator L.P. Kkr sold 13,288,101 shares of the company’s stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $21.15, for a total transaction of $281,043,336.15. Following the transaction, the insider owned 79,671,883 shares in the company, valued at $1,685,060,325.45. The trade was a 14.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,919,941 shares of company stock worth $337,025,856 over the last quarter. 3.40% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. TD Cowen assumed coverage on shares of BrightSpring Health Services in a research note on Monday, June 23rd. They issued a “buy” rating and a $37.00 price objective for the company. Wells Fargo & Company lifted their price objective on shares of BrightSpring Health Services from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Tuesday, May 13th. Mizuho set a $26.00 price objective on shares of BrightSpring Health Services in a research note on Monday, May 5th. Morgan Stanley lifted their price objective on shares of BrightSpring Health Services from $20.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Finally, Wall Street Zen raised shares of BrightSpring Health Services from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 5th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, BrightSpring Health Services currently has a consensus rating of “Buy” and an average target price of $24.90.

BrightSpring Health Services Price Performance

BrightSpring Health Services stock traded down $0.15 during trading hours on Friday, hitting $19.95. 114,815 shares of the stock were exchanged, compared to its average volume of 1,658,593. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.37 and a current ratio of 1.73. The stock has a market capitalization of $3.51 billion, a P/E ratio of 71.38 and a beta of 2.30. BrightSpring Health Services, Inc. has a 12 month low of $10.15 and a 12 month high of $25.57. The business’s 50-day moving average is $22.56 and its two-hundred day moving average is $20.24.

BrightSpring Health Services (NASDAQ:BTSG) last issued its quarterly earnings data on Friday, May 2nd. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.10. The firm had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.74 billion. BrightSpring Health Services had a net margin of 0.49% and a return on equity of 7.76%. The company’s quarterly revenue was up 25.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.12 earnings per share. Equities research analysts expect that BrightSpring Health Services, Inc. will post 0.59 EPS for the current fiscal year.

About BrightSpring Health Services

BrightSpring Health Services, Inc operates a home and community-based healthcare services platform in the United States. The company's platform focuses on delivering pharmacy and provider services, including clinical and supportive care in home and community settings to Medicare, Medicaid, and insured populations.