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Bright Horizons director Mary Ann Tocio sells $573,530 in stock

Published 06/12/2024, 08:04 am
BFAM
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Mary Ann Tocio, a director at Bright Horizons (NYSE:BFAM) Family Solutions Inc. (NYSE:BFAM), has sold a portion of her holdings in the company. According to a recent SEC filing, Tocio sold 5,000 shares of common stock on December 3, 2024. The company, currently valued at approximately $7 billion, has seen its stock rise to $119.29, trading above InvestingPro's Fair Value estimate. The shares were sold at a weighted average price of $114.706, amounting to a total transaction value of $573,530.

The sale was executed in multiple trades at prices ranging from $114.68 to $114.78. Following this transaction, Tocio retains ownership of 25,257 shares in the company.

In other recent news, Bright Horizons Family Solutions Inc. reported an 11% increase in third-quarter revenue for 2024, reaching $719 million. The company's backup care segment significantly contributed to this growth, witnessing an 18% rise in revenue to $202 million. The adjusted earnings per share (EPS) also saw a 26% growth, hitting $1.11. Baird upgraded Bright Horizons' stock rating from Neutral to Outperform, setting a new price target at $140.00. Baird's decision was influenced by the strong performance of Bright Horizons' Back-Up Care business and the recovery potential in the Full Service segment. BMO Capital Markets also revised its stance on Bright Horizons, elevating the stock from Market Perform to Outperform, while adjusting the price target to $125. The company anticipates continued low single-digit enrollment growth and expects price increases to taper from 5% to around 4% in 2025. These are recent developments in the company's performance and outlook.

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