BrightSpring Health Services, Inc. $BTSG is 8 Knots Management LLC's 4th Largest Position

8 Knots Management LLC lifted its holdings in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 20.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,087,076 shares of the company's stock after purchasing an additional 353,528 shares during the quarter. BrightSpring Health Services comprises approximately 9.0% of 8 Knots Management LLC's investment portfolio, making the stock its 4th biggest position. 8 Knots Management LLC owned 1.16% of BrightSpring Health Services worth $78,161,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BTSG. NBC Securities Inc. purchased a new position in BrightSpring Health Services during the 4th quarter valued at about $29,000. Salomon & Ludwin LLC purchased a new position in BrightSpring Health Services during the 4th quarter valued at about $30,000. EverSource Wealth Advisors LLC purchased a new position in BrightSpring Health Services during the 2nd quarter valued at about $43,000. Farther Finance Advisors LLC boosted its holdings in BrightSpring Health Services by 112.8% during the 4th quarter. Farther Finance Advisors LLC now owns 1,717 shares of the company's stock valued at $64,000 after acquiring an additional 910 shares during the period. Finally, CWM LLC boosted its holdings in BrightSpring Health Services by 17.5% during the 4th quarter. CWM LLC now owns 1,874 shares of the company's stock valued at $70,000 after acquiring an additional 279 shares during the period.

Analyst Upgrades and Downgrades

BTSG has been the subject of a number of research analyst reports. Mizuho raised their target price on BrightSpring Health Services from $52.00 to $61.00 and gave the company an "outperform" rating in a report on Tuesday, May 5th. BTIG Research increased their price target on BrightSpring Health Services from $55.00 to $65.00 and gave the company a "buy" rating in a research report on Monday, May 4th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $60.00 price target on shares of BrightSpring Health Services in a research report on Monday, May 4th. Wall Street Zen lowered BrightSpring Health Services from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 23rd. Finally, Weiss Ratings raised BrightSpring Health Services from a "hold (c)" rating to a "buy (b-)" rating in a research report on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $58.53.

Insider Activity at BrightSpring Health Services

In other BrightSpring Health Services news, insider Jon B. Rousseau sold 130,000 shares of BrightSpring Health Services stock in a transaction that occurred on 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 transaction, the insider owned 1,194,503 shares of the company's stock, valued at $70,177,051.25. The trade was a 9.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Lisa A. Nalley sold 35,000 shares of BrightSpring Health Services stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $58.75, for a total value of $2,056,250.00. Following the transaction, the insider directly owned 131,948 shares in the company, valued at approximately $7,751,945. This trade represents a 20.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 2.80% of the company's stock.

BrightSpring Health Services Stock Performance

NASDAQ BTSG opened at $63.23 on Friday. The company has a fifty day moving average of $53.17 and a two-hundred day moving average of $44.00. The company has a market capitalization of $12.47 billion, a PE ratio of 44.84, a P/E/G ratio of 0.82 and a beta of 1.87. BrightSpring Health Services, Inc. has a 1 year low of $19.01 and a 1 year high of $64.18. 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 posted its earnings results on Friday, May 1st. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.10. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.39 billion. BrightSpring Health Services had a return on equity of 14.63% and a net margin of 2.27%.The business's quarterly revenue was up 25.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.14 EPS. As a group, analysts expect that BrightSpring Health Services, Inc. will post 1.67 earnings per share for the current year.

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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