BrightSpring Health Services, Inc. $BTSG Stake Decreased by Smith Group Asset Management LLC

Key Points

• Smith Group Asset Management cut its BrightSpring Health Services stake by 61% in the third quarter, selling 30,330 shares and retaining 19,404 shares valued at approximately $1.1 million.
• BrightSpring reported stronger-than-expected quarterly results, with EPS of $0.45 versus the $0.40 consensus estimate and revenue of $3.87 billion, up 23% year over year.
• Shares opened at $59.46, while analysts maintained a generally positive outlook: the stock has a “Moderate Buy” consensus rating and an average price target of $72.88.

Smith Group Asset Management LLC reduced its holdings in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 61.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,404 shares of the company's stock after selling 30,330 shares during the quarter. Smith Group Asset Management LLC's holdings in BrightSpring Health Services were worth $1,101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. TD Waterhouse Canada Inc. purchased a new position in BrightSpring Health Services in the 2nd quarter worth about $22,054,000. Bank of America Corp DE lifted its stake in BrightSpring Health Services by 48.7% during the 1st quarter. Bank of America Corp DE now owns 1,534,154 shares of the company's stock valued at $65,370,000 after acquiring an additional 502,786 shares during the period. Ausbil Investment Management Ltd purchased a new stake in shares of BrightSpring Health Services during the 2nd quarter valued at about $2,005,000. Wealthstar Advisors LLC purchased a new stake in shares of BrightSpring Health Services during the 1st quarter valued at about $1,525,000. Finally, Bellars Harris Wealth Management LLC purchased a new stake in shares of BrightSpring Health Services during the 2nd quarter valued at about $4,394,000.

BrightSpring Health Services Stock Up 1.9%

BrightSpring Health Services stock opened at $59.46 on Thursday. BrightSpring Health Services, Inc. has a one year low of $30.64 and a one year high of $73.75. The stock has a fifty day moving average of $59.77 and a 200 day moving average of $54.29. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.22 and a current ratio of 1.59. The stock has a market cap of $11.76 billion, a PE ratio of 35.82, a price-to-earnings-growth ratio of 0.78 and a beta of 1.87.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last announced its earnings results 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 for the quarter, compared to analysts' expectations of $3.66 billion. BrightSpring Health Services had a return on equity of 16.73% and a net margin of 2.55%. The business's revenue for the quarter was up 23.0% on a year-over-year basis. During the same period last year, the firm posted $0.22 earnings per share. As a group, sell-side analysts predict that BrightSpring Health Services, Inc. will post 1.64 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on BTSG shares. BMO Capital Markets reiterated an "outperform" rating on shares of BrightSpring Health Services in a research note on Friday, October 2nd. Guggenheim began coverage on shares of BrightSpring Health Services in a research report on Monday, July 13th. They set a "buy" rating and a $81.00 price objective on the stock. Wall Street Zen downgraded shares of BrightSpring Health Services from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 23rd. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $70.00 target price on shares of BrightSpring Health Services in a report on Monday, August 3rd. Finally, Raymond James Financial initiated coverage on shares of BrightSpring Health Services in a research report on Thursday, July 9th. They issued an "outperform" rating and a $80.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $72.88.

BrightSpring Health Services Company Profile

BrightSpring Health Services NASDAQ: BTSG is a Louisville, Kentucky-based provider of home- and community-based health services and pharmacy services. The company focuses on supporting individuals with complex or chronic care needs, including older adults and people with disabilities, through care delivered in homes, communities and other non-hospital settings.

Its services include home health, hospice, personal care, behavioral health, primary care, rehabilitation and community living programs.

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