Bright Horizons Family Solutions Inc. (BFAM) Cut to Hold at BidaskClub

BidaskClub cut shares of Bright Horizons Family Solutions Inc. (NYSE:BFAM) from a buy rating to a hold rating in a research note published on Wednesday, July 12th.

A number of other research analysts have also weighed in on BFAM. Zacks Investment Research lowered Bright Horizons Family Solutions from a buy rating to a hold rating in a report on Wednesday, April 12th. Credit Suisse Group reissued an outperform rating and set a $80.00 target price on shares of Bright Horizons Family Solutions in a report on Monday, April 17th. Finally, BMO Capital Markets reissued a hold rating and set a $83.00 target price on shares of Bright Horizons Family Solutions in a report on Friday, May 5th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $81.75.

Shares of Bright Horizons Family Solutions (NYSE:BFAM) traded down 0.16% during midday trading on Wednesday, hitting $79.16. 242,148 shares of the stock traded hands. The firm’s 50 day moving average price is $78.21 and its 200 day moving average price is $74.32. The company has a market capitalization of $4.68 billion, a PE ratio of 42.24 and a beta of 0.12. Bright Horizons Family Solutions has a 12-month low of $59.00 and a 12-month high of $82.00.

Bright Horizons Family Solutions (NYSE:BFAM) last posted its earnings results on Tuesday, August 1st. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.03. The business had revenue of $445.55 million for the quarter, compared to analyst estimates of $443.90 million. Bright Horizons Family Solutions had a return on equity of 19.19% and a net margin of 6.91%. The firm’s revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.61 EPS. Analysts expect that Bright Horizons Family Solutions will post $2.64 EPS for the current year.

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In other news, major shareholder Bain Capital Investors Llc sold 4,124,534 shares of the stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $79.25, for a total transaction of $326,869,319.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Mary Lou Burke sold 5,000 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $78.56, for a total value of $392,800.00. Following the sale, the chief operating officer now directly owns 32,354 shares in the company, valued at $2,541,730.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,193,394 shares of company stock worth $332,246,231. 2.90% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Bright Horizons Family Solutions by 73,144.9% in the first quarter. BlackRock Inc. now owns 2,743,023 shares of the company’s stock valued at $198,843,000 after buying an additional 2,739,278 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Bright Horizons Family Solutions by 3,798.6% in the second quarter. JPMorgan Chase & Co. now owns 692,158 shares of the company’s stock valued at $53,441,000 after buying an additional 674,404 shares in the last quarter. Neuberger Berman Group LLC increased its stake in shares of Bright Horizons Family Solutions by 108.4% in the second quarter. Neuberger Berman Group LLC now owns 1,153,425 shares of the company’s stock valued at $89,056,000 after buying an additional 599,907 shares in the last quarter. Mackenzie Financial Corp acquired a new stake in shares of Bright Horizons Family Solutions during the first quarter valued at $32,736,000. Finally, Vanguard Group Inc. increased its stake in shares of Bright Horizons Family Solutions by 11.8% in the second quarter. Vanguard Group Inc. now owns 3,888,575 shares of the company’s stock valued at $300,237,000 after buying an additional 410,335 shares in the last quarter. Institutional investors and hedge funds own 98.81% of the company’s stock.

About Bright Horizons Family Solutions

Bright Horizons Family Solutions Inc is a provider of child care, early education and other services. The Company provides services under multi-year contracts with employers offering child care and other dependent care solutions as part of their employee benefits packages. Its segments include full service center-based care services, back-up dependent care services and other educational advisory services.

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