Navellier & Associates Inc. Takes $10.19 Million Position in BrightSpring Health Services, Inc. $BTSG

Navellier & Associates Inc. bought a new position in BrightSpring Health Services, Inc. (NASDAQ:BTSG) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 146,048 shares of the company’s stock, valued at approximately $10,185,000. BrightSpring Health Services makes up about 0.8% of Navellier & Associates Inc.’s holdings, making the stock its 27th biggest holding. Navellier & Associates Inc. owned approximately 0.07% of BrightSpring Health Services at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BTSG. Allworth Financial LP purchased a new position in BrightSpring Health Services during the second quarter valued at $28,000. NBC Securities Inc. bought a new position in shares of BrightSpring Health Services during the 4th quarter valued at about $29,000. GHP Investment Advisors Inc. bought a new position in shares of BrightSpring Health Services during the 1st quarter valued at about $31,000. EverSource Wealth Advisors LLC bought a new position in shares of BrightSpring Health Services during the 2nd quarter valued at about $43,000. Finally, Kilter Group LLC purchased a new position in shares of BrightSpring Health Services during the second quarter valued at about $50,000.

Insider Buying and Selling at BrightSpring Health Services

In related news, insider Lisa A. Nalley sold 35,000 shares of the firm’s stock in a transaction 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 in the company, valued at $7,751,945. This trade represents a 20.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jon B. Rousseau sold 130,000 shares of the firm’s stock in a transaction 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 owned 1,194,503 shares of the company’s stock, valued at approximately $70,177,051.25. This represents a 9.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 2.80% of the company’s stock.

BrightSpring Health Services Trading Down 2.9%

BTSG opened at $59.13 on Friday. The stock has a 50-day moving average of $65.91 and a 200 day moving average of $54.81. The company has a current ratio of 1.59, a quick ratio of 1.22 and a debt-to-equity ratio of 1.06. BrightSpring Health Services, Inc. has a 12 month low of $22.86 and a 12 month high of $73.75. The firm has a market cap of $11.70 billion, a P/E ratio of 35.62, a P/E/G ratio of 0.73 and a beta of 1.88.

BrightSpring Health Services (NASDAQ:BTSG) last issued its quarterly earnings data on Friday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05. The business had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.66 billion. BrightSpring Health Services had a return on equity of 16.73% and a net margin of 2.55%.The company’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.22 earnings per share. As a group, research analysts forecast that BrightSpring Health Services, Inc. will post 1.82 EPS for the current year.

Analyst Upgrades and Downgrades

BTSG has been the topic of a number of research analyst reports. BTIG Research reiterated a “buy” rating and issued a $90.00 target price on shares of BrightSpring Health Services in a research report on Thursday, August 13th. Weiss Ratings restated a “buy (b-)” rating on shares of BrightSpring Health Services in a report on Friday, July 31st. TD Cowen lifted their price objective on BrightSpring Health Services from $65.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Morgan Stanley lifted their price objective on BrightSpring Health Services from $71.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Finally, Zacks Research raised BrightSpring Health Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Two research analysts have rated the stock with a Strong Buy rating and eighteen have given a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $70.71.

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.