Catalyst Funds Management Pty Ltd Takes $1.38 Million Position in BrightSpring Health Services, Inc. $BTSG

Key Points

• Catalyst Funds Management disclosed a new 13F position in BrightSpring Health Services, buying 36,800 shares valued at about $1.38 million.
• Several other institutional investors also added to their BTSG holdings, while insiders were net sellers: CEO Jon B. Rousseau and CFO Jennifer A. Phipps sold shares totaling more than $10.4 million combined.
• Analysts remain upbeat on the stock, with multiple firms raising price targets; BrightSpring currently has a Buy consensus and an average price target of $57, while shares recently traded around $58.50 after a strong earnings beat.

Catalyst Funds Management Pty Ltd bought a new position in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 36,800 shares of the company's stock, valued at approximately $1,378,000.

A number of other large investors have also recently made changes to their positions in BTSG. CWM LLC lifted its stake in BrightSpring Health Services by 17.5% in the fourth quarter. CWM LLC now owns 1,874 shares of the company's stock worth $70,000 after purchasing an additional 279 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of BrightSpring Health Services by 17.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,826 shares of the company's stock valued at $143,000 after buying an additional 565 shares during the last quarter. NBC Securities Inc. bought a new position in shares of BrightSpring Health Services during the fourth quarter valued at approximately $29,000. Salomon & Ludwin LLC purchased a new stake in shares of BrightSpring Health Services in the fourth quarter worth approximately $30,000. Finally, Farther Finance Advisors LLC lifted its stake in shares of BrightSpring Health Services by 112.8% during the 4th quarter. Farther Finance Advisors LLC now owns 1,717 shares of the company's stock worth $64,000 after acquiring an additional 910 shares during the last quarter.

Insider Activity

In related news, insider Jon B. Rousseau sold 220,000 shares of the company's stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $41.15, for a total value of $9,053,000.00. Following the completion of the sale, the insider directly owned 1,023,880 shares of the company's stock, valued at $42,132,662. This represents a 17.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jennifer A. Phipps sold 35,000 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total transaction of $1,440,250.00. Following the transaction, the chief financial officer owned 196,840 shares in the company, valued at approximately $8,099,966. The trade was a 15.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 285,000 shares of company stock worth $11,727,750. Company insiders own 2.80% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BTSG. Morgan Stanley boosted their price objective on BrightSpring Health Services from $48.00 to $62.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. BTIG Research lifted their target price on BrightSpring Health Services from $55.00 to $65.00 and gave the stock a "buy" rating in a research report on Monday, May 4th. UBS Group boosted their target price on shares of BrightSpring Health Services from $53.00 to $55.00 and gave the company a "buy" rating in a research note on Wednesday, March 18th. TD Cowen upped their price target on shares of BrightSpring Health Services from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Monday, May 4th. Finally, Zacks Research raised shares of BrightSpring Health Services from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company. According to MarketBeat, BrightSpring Health Services currently has an average rating of "Buy" and a consensus price target of $57.00.

BrightSpring Health Services Stock Up 0.9%

Shares of NASDAQ:BTSG opened at $58.50 on Friday. BrightSpring Health Services, Inc. has a 52-week low of $19.01 and a 52-week high of $59.65. The stock has a market cap of $11.34 billion, a P/E ratio of 41.49, a price-to-earnings-growth ratio of 0.77 and a beta of 1.71. The business's 50 day moving average is $47.64 and its 200 day moving average is $41.12. The company has a quick ratio of 1.38, a current ratio of 1.74 and a debt-to-equity ratio of 1.24.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last issued its earnings results on Friday, May 1st. The company reported $0.39 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.10. BrightSpring Health Services had a return on equity of 14.63% and a net margin of 2.27%.The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same period in the previous year, the company posted $0.14 EPS. BrightSpring Health Services's revenue was up 25.6% on a year-over-year basis. Sell-side analysts predict that BrightSpring Health Services, Inc. will post 1.64 EPS 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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