BrightSpring Health Services, Inc. (NASDAQ:BTSG) Stock Position Reduced by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. trimmed its holdings in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 60.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 383,377 shares of the company's stock after selling 581,153 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.22% of BrightSpring Health Services worth $6,529,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. R Squared Ltd acquired a new position in shares of BrightSpring Health Services during the fourth quarter valued at approximately $74,000. Envestnet Asset Management Inc. purchased a new stake in BrightSpring Health Services in the fourth quarter valued at approximately $188,000. KLP Kapitalforvaltning AS acquired a new position in BrightSpring Health Services during the 4th quarter worth about $206,000. Teacher Retirement System of Texas purchased a new position in shares of BrightSpring Health Services in the fourth quarter valued at approximately $234,000. Finally, Intech Investment Management LLC boosted its position in BrightSpring Health Services by 93.8% in the 4th quarter. Intech Investment Management LLC now owns 20,937 shares of the company's stock valued at $357,000 after buying an additional 10,135 shares during the period.

BrightSpring Health Services Stock Performance

Shares of NASDAQ BTSG traded up $2.97 during trading on Friday, reaching $20.87. The stock had a trading volume of 4,015,296 shares, compared to its average volume of 1,304,315. The firm's 50 day moving average price is $17.60 and its two-hundred day moving average price is $18.45. BrightSpring Health Services, Inc. has a one year low of $10.15 and a one year high of $24.82. The stock has a market cap of $3.65 billion, a PE ratio of -80.27 and a beta of 2.02. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.97 and a current ratio of 1.35.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last posted its earnings results on Friday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.10. BrightSpring Health Services had a positive return on equity of 4.16% and a negative net margin of 0.38%. During the same period in the previous year, the business earned $0.12 EPS. BrightSpring Health Services's revenue for the quarter was up 25.9% on a year-over-year basis. On average, research analysts forecast that BrightSpring Health Services, Inc. will post 0.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, UBS Group raised their target price on BrightSpring Health Services from $22.00 to $30.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $21.67.

BrightSpring Health Services Company Profile

BrightSpring Health Services, Inc operates a home and community-based healthcare services platform in the United States. The company's platform focuses on delivering pharmacy and provider services, including clinical and supportive care in home and community settings to Medicare, Medicaid, and insured populations.