Handelsbanken Fonder AB Has $981,000 Holdings in BrightSpring Health Services, Inc. $BTSG

Key Points

• Handelsbanken Fonder AB increased its BrightSpring Health Services stake by 211.9% in the fourth quarter, ending with 26,200 shares valued at about $981,000.
• Several other institutional investors also expanded positions, including Vanguard, Manulife, and Jane Street, signaling broad institutional interest in BTSG.
• BrightSpring reported strong quarterly results, with EPS of $0.39 and revenue of $3.61 billion, both above estimates; analysts maintain a Buy consensus with an average target price of $57.

Handelsbanken Fonder AB boosted its stake in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 211.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,200 shares of the company's stock after purchasing an additional 17,800 shares during the quarter. Handelsbanken Fonder AB's holdings in BrightSpring Health Services were worth $981,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of BTSG. Vanguard Group Inc. raised its stake in BrightSpring Health Services by 30.5% in the fourth quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company's stock valued at $469,385,000 after purchasing an additional 2,928,953 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in BrightSpring Health Services by 936.4% in the second quarter. The Manufacturers Life Insurance Company now owns 2,276,583 shares of the company's stock valued at $53,705,000 after purchasing an additional 2,056,920 shares in the last quarter. Jane Street Group LLC grew its position in BrightSpring Health Services by 855.4% in the second quarter. Jane Street Group LLC now owns 2,076,730 shares of the company's stock valued at $48,990,000 after acquiring an additional 1,859,369 shares during the last quarter. 8 Knots Management LLC bought a new position in BrightSpring Health Services in the third quarter valued at about $51,244,000. Finally, Dimensional Fund Advisors LP grew its position in BrightSpring Health Services by 123.9% in the third quarter. Dimensional Fund Advisors LP now owns 2,096,949 shares of the company's stock valued at $61,966,000 after acquiring an additional 1,160,500 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BTSG. TD Cowen lifted their target price on BrightSpring Health Services from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Monday, May 4th. Leerink Partners reiterated an "outperform" rating and issued a $49.00 target price on shares of BrightSpring Health Services in a research report on Wednesday, March 18th. BTIG Research lifted their target price on BrightSpring Health Services from $55.00 to $65.00 and gave the company a "buy" rating in a research report on Monday, May 4th. Morgan Stanley lifted their target price on BrightSpring Health Services from $48.00 to $62.00 and gave the company an "overweight" rating in a research report on Wednesday, May 6th. Finally, UBS Group lifted their target price on BrightSpring Health Services from $53.00 to $55.00 and gave the company a "buy" rating in a research report on Wednesday, March 18th. Two investment analysts have rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company's stock. According to MarketBeat, BrightSpring Health Services has a consensus rating of "Buy" and an average target price of $57.00.

BrightSpring Health Services Stock Performance

BrightSpring Health Services stock opened at $60.32 on Wednesday. BrightSpring Health Services, Inc. has a 12-month low of $19.01 and a 12-month high of $60.48. The company has a quick ratio of 1.38, a current ratio of 1.74 and a debt-to-equity ratio of 1.24. The business's 50-day moving average price is $48.48 and its two-hundred day moving average price is $41.55. The stock has a market cap of $11.70 billion, a PE ratio of 42.78, a P/E/G ratio of 0.77 and a beta of 1.71.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last released its quarterly earnings results on Friday, May 1st. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.10. The company had revenue of $3.61 billion for the quarter, compared to analysts' expectations of $3.39 billion. BrightSpring Health Services had a return on equity of 14.63% and a net margin of 2.27%.The business's quarterly revenue was up 25.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.14 earnings per share. As a group, analysts expect that BrightSpring Health Services, Inc. will post 1.64 earnings per share for the current fiscal year.

Insider Transactions at BrightSpring Health Services

In other news, insider Jon B. Rousseau sold 220,000 shares of the business's stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total transaction of $9,053,000.00. Following the sale, the insider directly owned 1,023,880 shares in the company, valued at approximately $42,132,662. The trade was a 17.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Lisa A. Nalley sold 30,000 shares of the business's stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total value of $1,234,500.00. Following the sale, the insider owned 110,594 shares in the company, valued at approximately $4,550,943.10. This trade represents a 21.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 285,000 shares of company stock worth $11,727,750. Insiders own 2.80% of the company's stock.

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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