The Manufacturers Life Insurance Company Cuts Stock Position in BrightSpring Health Services, Inc. $BTSG

The Manufacturers Life Insurance Company cut its stake in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 1.7% in the first quarter, HoldingsChannel.com reports. The fund owned 4,259,265 shares of the company’s stock after selling 71,493 shares during the period. The Manufacturers Life Insurance Company’s holdings in BrightSpring Health Services were worth $181,487,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. NBC Securities Inc. acquired a new stake in shares of BrightSpring Health Services in the fourth quarter valued at about $29,000. Salomon & Ludwin LLC acquired a new position in shares of BrightSpring Health Services during the 4th quarter worth about $30,000. GHP Investment Advisors Inc. acquired a new position in shares of BrightSpring Health Services during the 1st quarter worth about $31,000. EverSource Wealth Advisors LLC purchased a new position in BrightSpring Health Services in the 2nd quarter valued at about $43,000. Finally, Meeder Asset Management Inc. purchased a new position in BrightSpring Health Services in the 1st quarter valued at about $52,000.

Insider Buying and Selling

In other news, insider Jon B. Rousseau sold 130,000 shares of the company’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 value of $7,637,500.00. Following the completion of the sale, the insider directly owned 1,194,503 shares in the company, valued at $70,177,051.25. This represents a 9.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 shares were 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 represents 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.

BrightSpring Health Services Stock Performance

BTSG opened at $72.46 on Wednesday. BrightSpring Health Services, Inc. has a twelve month low of $19.01 and a twelve month high of $73.75. The firm has a market capitalization of $14.30 billion, a PE ratio of 51.39, a PEG ratio of 0.91 and a beta of 1.79. The company has a current ratio of 1.74, a quick ratio of 1.38 and a debt-to-equity ratio of 1.24. The firm’s 50-day moving average price is $65.83 and its 200 day moving average price is $51.34.

BrightSpring Health Services (NASDAQ:BTSG) last released its quarterly earnings data 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 net margin of 2.27% and a return on equity of 14.63%. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the prior year, the firm earned $0.14 EPS. BrightSpring Health Services’s quarterly revenue was up 25.6% on a year-over-year basis. As a group, sell-side analysts expect that BrightSpring Health Services, Inc. will post 1.7 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on BTSG shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $60.00 price objective on shares of BrightSpring Health Services in a report on Monday, May 4th. TD Cowen raised their target price on BrightSpring Health Services from $65.00 to $81.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. KeyCorp lifted their price target on BrightSpring Health Services from $60.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Wall Street Zen cut BrightSpring Health Services from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 4th. Finally, Morgan Stanley increased their price objective on BrightSpring Health Services from $71.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target 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.