BrightSpring Health Services, Inc. $BTSG Stock Position Boosted by Persistent Asset Partners Ltd

Key Points

• Persistent Asset Partners increased its BrightSpring Health Services stake by 23.5% in the fourth quarter, bringing its holdings to 93,897 shares worth about $3.5 million.
• BrightSpring reported strong quarterly results, with EPS of $0.39 beating estimates and revenue of $3.61 billion topping expectations; revenue also rose 25.6% year over year.
• Analysts remain bullish on BTSG, with several firms raising price targets and the stock carrying a consensus “Buy” rating; meanwhile, insider selling was disclosed by two executives on June 5.

Persistent Asset Partners Ltd grew its holdings in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 23.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 93,897 shares of the company's stock after acquiring an additional 17,837 shares during the period. BrightSpring Health Services comprises approximately 1.6% of Persistent Asset Partners Ltd's holdings, making the stock its 10th biggest holding. Persistent Asset Partners Ltd owned about 0.05% of BrightSpring Health Services worth $3,516,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BTSG. Vanguard Group Inc. increased its position in shares of BrightSpring Health Services by 30.5% in the 4th quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company's stock worth $469,385,000 after purchasing an additional 2,928,953 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of BrightSpring Health Services by 936.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,276,583 shares of the company's stock valued at $53,705,000 after buying an additional 2,056,920 shares during the period. State Street Corp boosted its holdings in shares of BrightSpring Health Services by 99.5% in the 4th quarter. State Street Corp now owns 4,033,149 shares of the company's stock valued at $151,041,000 after buying an additional 2,011,095 shares during the period. Jane Street Group LLC boosted its holdings in shares of BrightSpring Health Services by 855.4% in the 2nd quarter. Jane Street Group LLC now owns 2,076,730 shares of the company's stock valued at $48,990,000 after buying an additional 1,859,369 shares during the period. Finally, 8 Knots Management LLC acquired a new position in shares of BrightSpring Health Services in the 3rd quarter valued at about $51,244,000.

BrightSpring Health Services Stock Up 0.1%

NASDAQ BTSG opened at $64.14 on Wednesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.74 and a quick ratio of 1.38. The company's 50 day simple moving average is $54.01 and its 200 day simple moving average is $44.46. BrightSpring Health Services, Inc. has a 12 month low of $19.01 and a 12 month high of $64.73. The company has a market capitalization of $12.65 billion, a P/E ratio of 45.49, a PEG ratio of 0.83 and a beta of 1.87.

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

Insider Buying and Selling

In related news, insider Jon B. Rousseau sold 130,000 shares of the business's stock in a transaction that occurred on 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 sale, the insider directly owned 1,194,503 shares in the company, valued at $70,177,051.25. The trade was a 9.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Lisa A. Nalley sold 35,000 shares of the business's 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 $2,056,250.00. Following the completion of the sale, the insider owned 131,948 shares in the company, valued at $7,751,945. The trade was a 20.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

BTSG has been the subject of several research reports. Stephens lifted their price target on shares of BrightSpring Health Services from $53.00 to $64.00 and gave the company an "overweight" rating in a report on Monday, May 4th. KeyCorp lifted their price target on shares of BrightSpring Health Services from $55.00 to $60.00 and gave the company an "overweight" rating in a report on Monday, May 4th. Wells Fargo & Company lifted their price target on shares of BrightSpring Health Services from $50.00 to $61.00 and gave the company an "overweight" rating in a report on Monday, May 4th. BTIG Research boosted their target price on shares of BrightSpring Health Services from $55.00 to $65.00 and gave the company a "buy" rating in a research note on Monday, May 4th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $60.00 target price on shares of BrightSpring Health Services in a research note on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $58.53.

BrightSpring Health Services Company Profile

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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