BrightSpring Health Services, Inc. $BTSG Shares Purchased by Tidal Investments LLC

Key Points

• Tidal Investments increased its BrightSpring Health Services position by 186.2% in the second quarter, ending with 68,900 shares valued at approximately $4.8 million. Several other major institutional investors also expanded their stakes.
• Analysts remain broadly bullish on BTSG, with a consensus “Buy” rating and an average price target of $70.71. Recent targets range from $77 to $90, including upgrades from TD Cowen and Morgan Stanley.
• BrightSpring exceeded quarterly expectations, reporting $0.45 in EPS versus the $0.40 consensus and $3.87 billion in revenue, up 23% year over year. Shares opened at $58.73, compared with a 52-week range of $25.93 to $73.75.

Tidal Investments LLC raised its position in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 186.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 68,900 shares of the company's stock after purchasing an additional 44,828 shares during the quarter. Tidal Investments LLC's holdings in BrightSpring Health Services were worth $4,805,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. California State Teachers Retirement System grew its stake in shares of BrightSpring Health Services by 7,273.3% in the second quarter. California State Teachers Retirement System now owns 11,660,667 shares of the company's stock valued at $813,215,000 after buying an additional 11,502,520 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of BrightSpring Health Services by 4.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,662,236 shares of the company's stock valued at $399,302,000 after buying an additional 478,436 shares during the period. Invesco Ltd. lifted its stake in BrightSpring Health Services by 13.4% during the 4th quarter. Invesco Ltd. now owns 10,595,232 shares of the company's stock worth $396,791,000 after acquiring an additional 1,248,107 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in BrightSpring Health Services by 21.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,123,865 shares of the company's stock valued at $229,339,000 after acquiring an additional 1,091,757 shares during the period. Finally, Alliancebernstein L.P. boosted its holdings in BrightSpring Health Services by 12.1% during the 2nd quarter. Alliancebernstein L.P. now owns 5,450,085 shares of the company's stock valued at $128,568,000 after acquiring an additional 588,642 shares during the period.

Analyst Ratings Changes

A number of brokerages have issued reports on BTSG. TD Cowen boosted their price target on shares of BrightSpring Health Services from $65.00 to $81.00 and gave the stock a "buy" rating in a research note on Thursday, June 18th. Zacks Research raised shares of BrightSpring Health Services from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 4th. Morgan Stanley lifted their price objective on shares of BrightSpring Health Services from $71.00 to $80.00 and gave the company an "overweight" rating in a report on Tuesday, July 14th. BTIG Research reaffirmed a "buy" rating and set a $90.00 target price on shares of BrightSpring Health Services in a research note on Thursday, August 13th. Finally, Bank of America increased their target price on shares of BrightSpring Health Services from $66.00 to $77.00 and gave the stock a "buy" rating in a report on Thursday, July 2nd. Two equities research analysts have rated the stock with a Strong Buy rating and eighteen have assigned a Buy rating to the company's stock. According to MarketBeat.com, BrightSpring Health Services has a consensus rating of "Buy" and an average target price of $70.71.

BrightSpring Health Services Price Performance

Shares of BrightSpring Health Services stock opened at $58.73 on Monday. The company has a quick ratio of 1.22, a current ratio of 1.59 and a debt-to-equity ratio of 1.06. BrightSpring Health Services, Inc. has a 52-week low of $25.93 and a 52-week high of $73.75. The company has a market capitalization of $11.62 billion, a P/E ratio of 35.38, a P/E/G ratio of 0.69 and a beta of 1.84. The company has a 50 day moving average of $64.21 and a 200 day moving average of $56.36.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last released its quarterly earnings data on Friday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.05. The business had revenue of $3.87 billion during the quarter, compared to analysts' expectations of $3.66 billion. BrightSpring Health Services had a net margin of 2.55% and a return on equity of 16.73%. The company's revenue for the quarter was up 23.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.22 EPS. As a group, research analysts forecast that BrightSpring Health Services, Inc. will post 1.82 EPS for the current fiscal year.

About BrightSpring Health Services

BrightSpring Health Services, Inc is a provider of home- and community-based health services and pharmacy services in the United States. The company supports individuals who require assistance with daily living, clinical care, rehabilitation, behavioral health services, or other long-term and post-acute care.

Its businesses include home health, hospice, personal care, residential and community living services, behavioral health programs, primary care, and rehabilitation. Through its PharMerica pharmacy business, BrightSpring provides institutional and specialty pharmacy services, including medication dispensing and related clinical support for long-term care facilities and other healthcare settings.

BrightSpring serves patients and clients across the United States through a network of local operations and care professionals.

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