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 (TSX: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.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.