Janney Montgomery Scott LLC Decreases Holdings in BrightSpring Health Services, Inc. $BTSG

Janney Montgomery Scott LLC lowered its stake in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 57.4% in the 1st quarter, HoldingsChannel reports. The firm owned 8,519 shares of the company’s stock after selling 11,499 shares during the quarter. Janney Montgomery Scott LLC’s holdings in BrightSpring Health Services were worth $363,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CWM LLC raised its holdings in BrightSpring Health Services by 17.5% during the 4th quarter. CWM LLC now owns 1,874 shares of the company’s stock valued at $70,000 after acquiring an additional 279 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of BrightSpring Health Services by 17.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,826 shares of the company’s stock valued at $143,000 after acquiring an additional 565 shares during the last quarter. GHP Investment Advisors Inc. bought a new stake in BrightSpring Health Services during the first quarter valued at approximately $31,000. NBC Securities Inc. bought a new stake in shares of BrightSpring Health Services during the 4th quarter worth $29,000. Finally, Salomon & Ludwin LLC purchased a new position in shares of BrightSpring Health Services in the 4th quarter worth about $30,000.

BrightSpring Health Services Stock Up 3.7%

BTSG opened at $70.69 on Friday. The firm has a 50 day moving average price of $63.76 and a 200-day moving average price of $49.64. The stock has a market capitalization of $13.95 billion, a price-to-earnings ratio of 50.14, a PEG ratio of 0.86 and a beta of 1.79. 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 twelve month low of $19.01 and a twelve month high of $72.22.

BrightSpring Health Services (NASDAQ:BTSG) last released its quarterly earnings results on Friday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.10. The firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.39 billion. BrightSpring Health Services had a return on equity of 14.63% and a net margin of 2.27%.The company’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same period last year, the business posted $0.14 EPS. Equities research analysts forecast that BrightSpring Health Services, Inc. will post 1.7 earnings per share for the current year.

Analyst Ratings Changes

BTSG has been the subject of a number of recent research reports. BTIG Research boosted their price objective on shares of BrightSpring Health Services from $65.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. BMO Capital Markets set a $70.00 price objective on BrightSpring Health Services in a research report on Thursday, May 21st. Weiss Ratings upgraded shares of BrightSpring Health Services from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, May 4th. The Goldman Sachs Group began coverage on BrightSpring Health Services in a report on Monday, June 8th. They issued a “buy” rating and a $71.00 price objective for the company. Finally, Guggenheim started coverage on shares of BrightSpring Health Services in a report on Monday. They set a “buy” rating and a $81.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $70.12.

Insiders Place Their Bets

In other BrightSpring Health Services news, insider Jon B. Rousseau sold 130,000 shares of BrightSpring Health Services stock in a transaction that occurred on 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 transaction, the insider 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lisa A. Nalley sold 35,000 shares of the 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 owned 131,948 shares of the company’s stock, valued at $7,751,945. The trade was a 20.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 2.80% of the company’s stock.

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.