Castleark Management LLC Acquires Shares of 212,430 BrightSpring Health Services, Inc. $BTSG

Castleark Management LLC bought a new position in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 212,430 shares of the company's stock, valued at approximately $14,815,000. Castleark Management LLC owned 0.11% of BrightSpring Health Services as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of BTSG. Allworth Financial LP bought a new stake in shares of BrightSpring Health Services in the second quarter valued at approximately $28,000. NBC Securities Inc. bought a new position in BrightSpring Health Services in the 4th quarter worth approximately $29,000. GHP Investment Advisors Inc. purchased a new position in BrightSpring Health Services in the 1st quarter valued at approximately $31,000. EverSource Wealth Advisors LLC purchased a new position in BrightSpring Health Services in the 2nd quarter valued at approximately $43,000. Finally, Kilter Group LLC purchased a new position in BrightSpring Health Services in the 2nd quarter valued at approximately $50,000.

BrightSpring Health Services Stock Performance

NASDAQ BTSG opened at $57.23 on Wednesday. The company's 50 day simple moving average is $66.22 and its two-hundred day simple moving average is $54.47. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.59 and a quick ratio of 1.22. BrightSpring Health Services, Inc. has a 1 year low of $22.86 and a 1 year high of $73.75. The stock has a market capitalization of $11.32 billion, a PE ratio of 34.48, a P/E/G ratio of 0.71 and a beta of 1.88.

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

Analyst Upgrades and Downgrades

BTSG has been the topic of several recent research reports. Bank of America increased their target price on BrightSpring Health Services from $66.00 to $77.00 and gave the stock a "buy" rating in a research report on Thursday, July 2nd. BTIG Research reiterated a "buy" rating and set a $90.00 price objective on shares of BrightSpring Health Services in a research note on Thursday, August 13th. Zacks Research upgraded BrightSpring Health Services from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 4th. Mizuho increased their price objective on BrightSpring Health Services from $52.00 to $61.00 and gave the stock an "outperform" rating in a report on Tuesday, May 5th. Finally, BMO Capital Markets set a $70.00 target price on BrightSpring Health Services in a research note on Thursday, May 21st. Two equities research analysts have rated the stock with a Strong Buy rating and eighteen have assigned a Buy rating to the stock. According to MarketBeat, BrightSpring Health Services presently has a consensus rating of "Buy" and a consensus target price of $70.71.

Insider Buying and Selling at BrightSpring Health Services

In related 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 transaction, the insider directly 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jon B. Rousseau sold 130,000 shares of the company's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $58.75, for a total value of $7,637,500.00. Following the completion of the transaction, the insider owned 1,194,503 shares in the company, valued at $70,177,051.25. This represents a 9.82% 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 currently owned by company 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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