Arrowstreet Capital Limited Partnership Increases Position in BrightSpring Health Services, Inc. $BTSG

Arrowstreet Capital Limited Partnership raised its stake in BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 109.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,370,440 shares of the company’s stock after buying an additional 716,949 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in BrightSpring Health Services were worth $58,394,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. CWM LLC raised its holdings in BrightSpring Health Services by 17.5% during the fourth quarter. CWM LLC now owns 1,874 shares of the company’s stock worth $70,000 after purchasing an additional 279 shares during the last quarter. State of Wyoming grew its holdings in BrightSpring Health Services by 4.5% in the first quarter. State of Wyoming now owns 7,776 shares of the company’s stock valued at $331,000 after purchasing an additional 336 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of BrightSpring Health Services by 17.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,826 shares of the company’s stock valued at $143,000 after buying an additional 565 shares in the last quarter. Moran Wealth Management LLC increased its position in shares of BrightSpring Health Services by 9.0% in the first quarter. Moran Wealth Management LLC now owns 6,925 shares of the company’s stock valued at $295,000 after buying an additional 572 shares in the last quarter. Finally, GHP Investment Advisors Inc. acquired a new position in shares of BrightSpring Health Services during the 1st quarter worth $31,000.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $60.00 price target on shares of BrightSpring Health Services in a report on Monday, May 4th. Raymond James Financial started coverage on shares of BrightSpring Health Services in a research note on Thursday, July 9th. They set an “outperform” rating and a $80.00 price objective for the company. Guggenheim began coverage on BrightSpring Health Services in a research report on Monday, July 13th. They set a “buy” rating and a $81.00 price objective for the company. BTIG Research upped their target price on BrightSpring Health Services from $65.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, June 22nd. Finally, Morgan Stanley increased their target price on BrightSpring Health Services from $71.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $70.12.

BrightSpring Health Services Price Performance

BrightSpring Health Services stock opened at $71.98 on Tuesday. BrightSpring Health Services, Inc. has a 1 year low of $19.01 and a 1 year high of $73.75. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.38 and a current ratio of 1.74. The firm has a 50 day moving average price of $65.52 and a 200 day moving average price of $51.11. The company has a market cap of $14.20 billion, a price-to-earnings ratio of 51.05, a PEG ratio of 0.92 and a beta of 1.79.

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

Insider Activity at BrightSpring Health Services

In other news, insider Lisa A. Nalley sold 35,000 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $58.75, for a total transaction of $2,056,250.00. Following the transaction, the insider directly owned 131,948 shares of the company’s stock, valued at approximately $7,751,945. The trade was a 20.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jon B. Rousseau sold 130,000 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $58.75, for a total transaction of $7,637,500.00. Following the completion of the transaction, the insider owned 1,194,503 shares in the company, valued at $70,177,051.25. This represents a 9.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.80% of the company’s stock.

About BrightSpring Health Services

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.