17,676 Shares in BrightSpring Health Services, Inc. $BTSG Acquired by OP Asset Management Ltd

Key Points

• OP Asset Management Ltd opened a new position in BrightSpring Health Services during the first quarter, buying 17,676 shares valued at about $753,000.
• Several insiders sold stock on June 5, including Lisa A. Nalley and Jon B. Rousseau, totaling more than $9.6 million in sales at $58.75 per share.
• BrightSpring recently beat earnings expectations, reporting $0.39 EPS versus $0.29 expected and $3.61 billion in revenue, while analysts remain broadly bullish with an average “Buy” rating and a $61.27 target price.

OP Asset Management Ltd bought a new position in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 17,676 shares of the company's stock, valued at approximately $753,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. CWM LLC grew its stake in BrightSpring Health Services by 17.5% in the 4th quarter. CWM LLC now owns 1,874 shares of the company's stock valued at $70,000 after buying an additional 279 shares during the last quarter. EverSource Wealth Advisors LLC grew 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 purchasing an additional 565 shares during the last quarter. NBC Securities Inc. acquired a new stake in shares of BrightSpring Health Services in the fourth quarter valued at about $29,000. Salomon & Ludwin LLC bought a new position in shares of BrightSpring Health Services in the fourth quarter worth about $30,000. Finally, Farther Finance Advisors LLC increased its stake in shares of BrightSpring Health Services by 112.8% in the fourth quarter. Farther Finance Advisors LLC now owns 1,717 shares of the company's stock worth $64,000 after purchasing an additional 910 shares during the period.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

BTSG has been the subject of several recent analyst reports. Leerink Partners restated an "outperform" rating and set a $49.00 target price on shares of BrightSpring Health Services in a research note on Wednesday, March 18th. BTIG Research lifted their price target on BrightSpring Health Services from $65.00 to $90.00 and gave the stock a "buy" rating in a research report on Monday, June 22nd. Stephens upped their price target on BrightSpring Health Services from $53.00 to $64.00 and gave the stock an "overweight" rating in a report on Monday, May 4th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $60.00 price target on shares of BrightSpring Health Services in a report on Monday, May 4th. Finally, Morgan Stanley raised their price objective on shares of BrightSpring Health Services from $62.00 to $71.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 2nd. Two equities research analysts have rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the stock. According to data from MarketBeat, BrightSpring Health Services currently has an average rating of "Buy" and an average target price of $61.27.

BrightSpring Health Services Trading Up 1.1%

BrightSpring Health Services stock opened at $69.74 on Wednesday. The business has a 50 day moving average price of $58.40 and a two-hundred day moving average price of $46.72. The company has a quick ratio of 1.38, a current ratio of 1.74 and a debt-to-equity ratio of 1.24. BrightSpring Health Services, Inc. has a 12 month low of $19.01 and a 12 month high of $70.72. The stock has a market cap of $13.76 billion, a price-to-earnings ratio of 49.46, a price-to-earnings-growth ratio of 0.89 and a beta of 1.87.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last released its quarterly earnings data on Friday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.10. The business had revenue of $3.61 billion for the quarter, compared to analysts' expectations of $3.39 billion. BrightSpring Health Services had a return on equity of 14.63% and a net margin of 2.27%.BrightSpring Health Services's quarterly revenue was up 25.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.14 earnings per share. As a group, equities analysts forecast that BrightSpring Health Services, Inc. will post 1.67 EPS for the current year.

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.

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