8 Knots Management LLC Purchases 353,528 Shares of BrightSpring Health Services, Inc. $BTSG

8 Knots Management LLC boosted its position in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 20.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,087,076 shares of the company’s stock after acquiring an additional 353,528 shares during the quarter. BrightSpring Health Services comprises 9.0% of 8 Knots Management LLC’s holdings, making the stock its 4th biggest position. 8 Knots Management LLC’s holdings in BrightSpring Health Services were worth $78,161,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in BTSG. AQR Capital Management LLC acquired a new position in shares of BrightSpring Health Services in the first quarter valued at approximately $276,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of BrightSpring Health Services by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,429 shares of the company’s stock valued at $587,000 after purchasing an additional 1,780 shares during the period. Millennium Management LLC increased its holdings in shares of BrightSpring Health Services by 0.3% in the first quarter. Millennium Management LLC now owns 577,885 shares of the company’s stock valued at $10,454,000 after purchasing an additional 1,967 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of BrightSpring Health Services by 11.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,280 shares of the company’s stock valued at $2,664,000 after purchasing an additional 14,586 shares during the period. Finally, Prudential Financial Inc. acquired a new position in shares of BrightSpring Health Services in the second quarter valued at approximately $351,000.

BrightSpring Health Services Stock Up 0.2%

BrightSpring Health Services stock opened at $63.23 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.74 and a quick ratio of 1.38. BrightSpring Health Services, Inc. has a 1-year low of $19.01 and a 1-year high of $64.18. The company has a market cap of $12.47 billion, a PE ratio of 44.84, a price-to-earnings-growth ratio of 0.82 and a beta of 1.87. The stock’s 50 day moving average price is $53.17 and its 200 day moving average price is $44.00.

BrightSpring Health Services (NASDAQ:BTSG) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same period in the previous year, the business earned $0.14 earnings per share. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. On average, sell-side analysts predict that BrightSpring Health Services, Inc. will post 1.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $60.00 target price on shares of BrightSpring Health Services in a report on Monday, May 4th. BMO Capital Markets set a $70.00 target price on BrightSpring Health Services in a report on Thursday, May 21st. Cantor Fitzgerald set a $49.00 target price on BrightSpring Health Services in a report on Monday, March 2nd. Weiss Ratings raised BrightSpring Health Services from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, May 4th. Finally, Stephens boosted their target price on BrightSpring Health Services from $53.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $58.53.

Insiders Place Their Bets

In other BrightSpring Health Services news, insider Lisa A. Nalley sold 35,000 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 $2,056,250.00. Following the sale, the insider directly owned 131,948 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this link. 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 value of $7,637,500.00. Following the sale, the insider owned 1,194,503 shares in the company, valued at approximately $70,177,051.25. The trade was a 9.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.80% of the stock is currently owned by insiders.

BrightSpring Health Services Company 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.