BrightSpring Health Services, Inc. $BTSG Shares Purchased by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners GP L.L.C. increased its stake in BrightSpring Health Services by 145.1% in Q1, now holding approximately 0.54% of the company valued at $16.99 million.
• Analysts have mixed ratings for BrightSpring Health Services, with a recent report lowering the stock from a "strong-buy" to a "buy," while others set a price target between $25.00 and $37.00.
• Insider Jon B. Rousseau sold over 531,840 shares of BrightSpring Health stock, while Phoenix Aggregator L.P. sold a large block of 13.3 million shares, affecting the insider ownership percentage.

Adage Capital Partners GP L.L.C. lifted its holdings in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 145.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 939,529 shares of the company's stock after acquiring an additional 556,152 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.54% of BrightSpring Health Services worth $16,996,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Envestnet Asset Management Inc. acquired a new position in BrightSpring Health Services during the fourth quarter worth $188,000. The Manufacturers Life Insurance Company lifted its position in shares of BrightSpring Health Services by 7.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 211,361 shares of the company's stock worth $3,599,000 after purchasing an additional 15,154 shares in the last quarter. Northern Trust Corp increased its holdings in BrightSpring Health Services by 12.6% during the 4th quarter. Northern Trust Corp now owns 535,334 shares of the company's stock worth $9,117,000 after purchasing an additional 60,111 shares during the period. Schonfeld Strategic Advisors LLC increased its stake in shares of BrightSpring Health Services by 30.3% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 44,400 shares of the company's stock worth $756,000 after buying an additional 10,327 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in BrightSpring Health Services by 1,193.9% in the fourth quarter. BNP Paribas Financial Markets now owns 275,983 shares of the company's stock valued at $4,700,000 after acquiring an additional 254,654 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BTSG. TD Cowen began coverage on shares of BrightSpring Health Services in a report on Monday, June 23rd. They issued a "buy" rating and a $37.00 price objective on the stock. Deutsche Bank Aktiengesellschaft set a $30.00 price objective on BrightSpring Health Services and gave the stock a "buy" rating in a research report on Monday. Wall Street Zen lowered BrightSpring Health Services from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. Cowen reaffirmed a "buy" rating on shares of BrightSpring Health Services in a report on Monday, August 4th. Finally, Bank of America raised their price objective on shares of BrightSpring Health Services from $27.50 to $31.00 and gave the stock a "buy" rating in a report on Wednesday. Eleven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $27.10.

BrightSpring Health Services Stock Performance

Shares of BTSG stock traded down $0.09 during trading hours on Thursday, hitting $27.99. The stock had a trading volume of 3,598,886 shares, compared to its average volume of 2,467,799. 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 market capitalization of $4.96 billion, a PE ratio of 90.29, a PEG ratio of 0.47 and a beta of 2.27. The stock's 50 day moving average is $22.19 and its 200 day moving average is $20.81. BrightSpring Health Services, Inc. has a twelve month low of $13.40 and a twelve month high of $28.43.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The company reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.19 by $0.03. BrightSpring Health Services had a net margin of 0.55% and a return on equity of 9.29%. The firm had revenue of $3.15 billion during the quarter, compared to analysts' expectations of $2.99 billion. During the same quarter in the prior year, the business earned $0.10 EPS. BrightSpring Health Services's quarterly revenue was up 15.3% compared to the same quarter last year. BrightSpring Health Services has set its FY 2025 guidance at EPS. As a group, research analysts forecast that BrightSpring Health Services, Inc. will post 0.59 earnings per share for the current fiscal year.

Insider Buying and Selling at BrightSpring Health Services

In other news, major shareholder Phoenix Aggregator L.P. Kkr sold 2,100,000 shares of the business's stock in a transaction that occurred on 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 transaction, the insider owned 77,096,337 shares of the company's stock, valued at approximately $1,630,587,527.55. The trade was a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.40% of the company's stock.

About BrightSpring Health Services

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.