BI Asset Management Fondsmaeglerselskab A S Purchases New Position in BrightSpring Health Services, Inc. $BTSG

Key Points

• BI Asset Management Fondsmaeglerselskab A S disclosed a new fourth-quarter position in BrightSpring Health Services, buying 144,037 shares valued at about $5.39 million.
• BrightSpring posted better-than-expected quarterly results, with EPS of $0.39 versus $0.29 expected and revenue of $3.61 billion versus $3.39 billion estimated, while revenue rose 25.6% year over year.
• Analyst sentiment remains positive: several firms raised or reiterated buy ratings, and TD Cowen lifted its price target to $65; the stock’s average target is about $57.64.

BI Asset Management Fondsmaeglerselskab A S acquired a new stake in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 144,037 shares of the company's stock, valued at approximately $5,394,000. BI Asset Management Fondsmaeglerselskab A S owned approximately 0.08% of BrightSpring Health Services at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in BrightSpring Health Services by 30.5% during the 4th quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company's stock worth $469,385,000 after acquiring an additional 2,928,953 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of BrightSpring Health Services by 936.4% in the second quarter. The Manufacturers Life Insurance Company now owns 2,276,583 shares of the company's stock valued at $53,705,000 after acquiring an additional 2,056,920 shares in the last quarter. Jane Street Group LLC increased its stake in shares of BrightSpring Health Services by 855.4% during the second quarter. Jane Street Group LLC now owns 2,076,730 shares of the company's stock worth $48,990,000 after acquiring an additional 1,859,369 shares during the period. 8 Knots Management LLC acquired a new position in shares of BrightSpring Health Services during the third quarter worth about $51,244,000. Finally, Dimensional Fund Advisors LP raised its holdings in BrightSpring Health Services by 123.9% during the third quarter. Dimensional Fund Advisors LP now owns 2,096,949 shares of the company's stock worth $61,966,000 after purchasing an additional 1,160,500 shares in the last quarter.

BrightSpring Health Services Stock Performance

NASDAQ:BTSG opened at $57.40 on Monday. BrightSpring Health Services, Inc. has a 1-year low of $19.01 and a 1-year high of $62.11. The firm has a 50 day simple moving average of $51.25 and a 200-day simple moving average of $43.07. The firm has a market cap of $11.32 billion, a PE ratio of 40.71, a P/E/G ratio of 0.74 and a beta of 1.87. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.74 and a quick ratio of 1.38.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.29 by $0.10. The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.39 billion. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. BrightSpring Health Services's revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.14 earnings per share. On average, equities analysts expect that BrightSpring Health Services, Inc. will post 1.67 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BTSG shares. TD Cowen lifted their price target on BrightSpring Health Services from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Monday, May 4th. Leerink Partners reissued an "outperform" rating and issued a $49.00 target price on shares of BrightSpring Health Services in a report on Wednesday, March 18th. Cantor Fitzgerald set a $49.00 target price on shares of BrightSpring Health Services in a research report on Monday, March 2nd. The Goldman Sachs Group assumed coverage on shares of BrightSpring Health Services in a research note on Monday. They set a "buy" rating on the stock. Finally, Weiss Ratings upgraded shares of BrightSpring Health Services from a "hold (c)" rating to a "buy (b-)" rating in a report on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the company. According to MarketBeat, BrightSpring Health Services presently has an average rating of "Buy" and an average price target of $57.64.

Insider Transactions at BrightSpring Health Services

In other BrightSpring Health Services news, insider Lisa A. Nalley sold 35,000 shares of the business's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $58.75, for a total transaction of $2,056,250.00. Following the completion of the sale, the insider owned 131,948 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jon B. Rousseau sold 130,000 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $58.75, for a total value of $7,637,500.00. Following the completion of the sale, the insider owned 1,194,503 shares of the company's stock, valued at approximately $70,177,051.25. This trade represents a 9.82% decrease in their position. The SEC filing for this sale provides additional information. 2.80% of the stock is currently owned by insiders.

About BrightSpring Health Services

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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