8 Knots Management LLC lowered its holdings in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 68.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,469,341 shares of the company's stock after selling 3,172,788 shares during the quarter. BrightSpring Health Services comprises approximately 3.4% of 8 Knots Management LLC's investment portfolio, making the stock its 12th largest holding. 8 Knots Management LLC owned about 0.84% of BrightSpring Health Services worth $26,580,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Quarry LP acquired a new stake in BrightSpring Health Services in the 4th quarter valued at $29,000. IFP Advisors Inc grew its position in BrightSpring Health Services by 273,666.7% in the 1st quarter. IFP Advisors Inc now owns 8,213 shares of the company's stock valued at $149,000 after purchasing an additional 8,210 shares during the period. Highland Capital Management LLC acquired a new stake in BrightSpring Health Services in the 1st quarter valued at $181,000. Envestnet Asset Management Inc. acquired a new stake in BrightSpring Health Services in the 4th quarter valued at $188,000. Finally, GAMMA Investing LLC grew its position in BrightSpring Health Services by 2,526.5% in the 1st quarter. GAMMA Investing LLC now owns 14,472 shares of the company's stock valued at $262,000 after purchasing an additional 13,921 shares during the period.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on BTSG shares. TD Cowen started coverage on shares of BrightSpring Health Services in a report on Monday, June 23rd. They set a "buy" rating and a $37.00 price objective on the stock. Cowen reaffirmed a "buy" rating on shares of BrightSpring Health Services in a report on Monday, August 4th. Morgan Stanley lifted their price objective on shares of BrightSpring Health Services from $20.00 to $25.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Wells Fargo & Company lifted their price objective on shares of BrightSpring Health Services from $25.00 to $27.00 and gave the stock an "overweight" rating in a report on Tuesday, May 13th. Finally, Wall Street Zen downgraded shares of BrightSpring Health Services from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, BrightSpring Health Services has an average rating of "Moderate Buy" and an average target price of $25.67.
View Our Latest Stock Analysis on BTSG
Insiders Place Their Bets
In related news, major shareholder Phoenix Aggregator L.P. Kkr sold 2,100,000 shares of the business's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $21.15, for a total value of $44,415,000.00. Following the sale, the insider directly owned 77,096,337 shares in the company, valued at approximately $1,630,587,527.55. The trade was a 2.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jon B. Rousseau sold 531,840 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $21.75, for a total transaction of $11,567,520.00. Following the sale, the insider directly owned 1,184,133 shares in the company, valued at approximately $25,754,892.75. This trade represents a 30.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,919,941 shares of company stock worth $337,025,856 over the last quarter. Company insiders own 3.40% of the company's stock.
BrightSpring Health Services Stock Performance
Shares of NASDAQ BTSG traded up $0.04 during mid-day trading on Friday, reaching $24.13. 1,369,182 shares of the company's stock were exchanged, compared to its average volume of 1,861,191. The firm has a market capitalization of $4.27 billion, a price-to-earnings ratio of 77.84 and a beta of 2.27. BrightSpring Health Services, Inc. has a 52 week low of $12.74 and a 52 week high of $25.57. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.76 and a quick ratio of 1.34. The firm has a 50-day moving average price of $21.84 and a two-hundred day moving average price of $20.63.
BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last released its earnings results on Friday, August 1st. The company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.03. The company had revenue of $3.15 billion for the quarter, compared to analysts' expectations of $2.99 billion. BrightSpring Health Services had a return on equity of 9.29% and a net margin of 0.55%.The business's revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.10 EPS. BrightSpring Health Services has set its FY 2025 guidance at EPS. Analysts predict that BrightSpring Health Services, Inc. will post 0.59 EPS for the current year.
BrightSpring Health Services Company Profile
(
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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