8 Knots Management LLC reduced its stake in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 19.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,642,129 shares of the company's stock after selling 1,136,058 shares during the quarter. BrightSpring Health Services makes up approximately 7.9% of 8 Knots Management LLC's investment portfolio, making the stock its 5th largest position. 8 Knots Management LLC owned about 2.67% of BrightSpring Health Services worth $79,055,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Quarry LP purchased a new position in BrightSpring Health Services during the 4th quarter valued at about $29,000. R Squared Ltd acquired a new stake in shares of BrightSpring Health Services during the fourth quarter worth about $74,000. Envestnet Asset Management Inc. purchased a new position in shares of BrightSpring Health Services in the fourth quarter valued at approximately $188,000. KLP Kapitalforvaltning AS acquired a new position in shares of BrightSpring Health Services in the fourth quarter valued at approximately $206,000. Finally, Teacher Retirement System of Texas purchased a new stake in BrightSpring Health Services during the 4th quarter worth approximately $234,000.
BrightSpring Health Services Stock Up 16.6 %
NASDAQ BTSG traded up $2.97 during trading on Friday, reaching $20.87. 4,015,296 shares of the company's stock were exchanged, compared to its average volume of 1,303,327. The company has a 50 day moving average price of $17.62 and a two-hundred day moving average price of $18.50. The stock has a market cap of $3.65 billion, a P/E ratio of -80.27 and a beta of 2.02. BrightSpring Health Services, Inc. has a 1 year low of $10.15 and a 1 year high of $24.82. 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 released its quarterly earnings data on Friday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.10. The company had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.74 billion. BrightSpring Health Services had a negative net margin of 0.38% and a positive return on equity of 4.16%. BrightSpring Health Services's revenue for the quarter was up 25.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.12 earnings per share. On average, equities research analysts anticipate that BrightSpring Health Services, Inc. will post 0.59 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Separately, UBS Group raised their price target on shares of BrightSpring Health Services from $22.00 to $30.00 and gave the company 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 given a buy rating to the stock. Based on data from MarketBeat, BrightSpring Health Services currently has an average rating of "Moderate Buy" and an average target price of $21.67.
Read Our Latest Stock Report on BrightSpring Health Services
About BrightSpring Health Services
(
Free Report)
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.
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