HBK Investments L P Sells 100,000 Shares of BrightSpring Health Services, Inc. $BTSG

Key Points

• HBK Investments L P has decreased its position in BrightSpring Health Services by 20%, owning 400,000 shares after selling 100,000 shares in the first quarter, which is valued at approximately $7.2 million.
• Other hedge funds are increasing their stakes in BrightSpring, with T. Rowe Price raising its holdings by 264.7% to over $104 million and Invesco growing its position by 41% to approximately $111 million.
• The company reported a 15.3% year-over-year increase in revenue for the last quarter, posting $3.15 billion and exceeding analyst expectations, alongside earnings per share of $0.22.

HBK Investments L P cut its holdings in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 20.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 400,000 shares of the company's stock after selling 100,000 shares during the quarter. HBK Investments L P owned approximately 0.23% of BrightSpring Health Services worth $7,236,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of BTSG. Envestnet Asset Management Inc. bought a new stake in shares of BrightSpring Health Services in the 4th quarter valued at about $188,000. First Trust Advisors LP acquired a new stake in shares of BrightSpring Health Services during the 4th quarter worth approximately $987,000. MetLife Investment Management LLC boosted its position in shares of BrightSpring Health Services by 4.9% during the 4th quarter. MetLife Investment Management LLC now owns 33,117 shares of the company's stock worth $564,000 after acquiring an additional 1,548 shares in the last quarter. Quarry LP acquired a new stake in shares of BrightSpring Health Services during the 4th quarter worth approximately $29,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of BrightSpring Health Services by 7.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 211,361 shares of the company's stock worth $3,599,000 after acquiring an additional 15,154 shares in the last quarter.

Wall Street Analyst Weigh In

BTSG has been the topic of a number of research analyst reports. Wells Fargo & Company raised their target price on shares of BrightSpring Health Services from $25.00 to $27.00 and gave the company an "overweight" rating in a research report on Tuesday, May 13th. Wall Street Zen lowered shares of BrightSpring Health Services from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. Cowen restated a "buy" rating on shares of BrightSpring Health Services in a research report on Monday, August 4th. TD Cowen initiated coverage on shares of BrightSpring Health Services in a research report on Monday, June 23rd. They issued a "buy" rating and a $37.00 target price on the stock. Finally, Morgan Stanley raised their target price on shares of BrightSpring Health Services from $20.00 to $25.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, BrightSpring Health Services presently has an average rating of "Moderate Buy" and a consensus price target of $25.67.

BrightSpring Health Services Trading Up 0.2%

Shares of BTSG stock traded up $0.04 during trading hours on Friday, hitting $24.13. 1,369,182 shares of the company's stock traded hands, compared to its average volume of 1,861,191. The stock's 50 day simple moving average is $21.84 and its 200 day simple moving average is $20.63. The stock has a market cap of $4.27 billion, a PE ratio of 77.84 and a beta of 2.27. BrightSpring Health Services, Inc. has a 12 month low of $12.74 and a 12 month high of $25.57. The company has a quick ratio of 1.34, a current ratio of 1.76 and a debt-to-equity ratio of 1.43.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.03. The firm had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $2.99 billion. BrightSpring Health Services had a net margin of 0.55% and a return on equity of 9.29%. The company's revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.10 earnings per share. BrightSpring Health Services has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that BrightSpring Health Services, Inc. will post 0.59 EPS for the current year.

Insiders Place Their Bets

In related news, insider Jon B. Rousseau sold 531,840 shares of the business's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $21.75, for a total value of $11,567,520.00. Following the transaction, the insider owned 1,184,133 shares in the company, valued at $25,754,892.75. The trade was a 30.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Phoenix Aggregator L.P. Kkr sold 13,288,101 shares of the business's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $21.15, for a total transaction of $281,043,336.15. Following the completion of the transaction, the insider owned 79,671,883 shares in the company, valued at approximately $1,685,060,325.45. The trade was a 14.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,919,941 shares of company stock valued at $337,025,856 in the last three months. 3.40% of the stock is owned by insiders.

BrightSpring Health Services Profile

BrightSpring Health Services, Inc operates a home and community-based healthcare services platform in the United States. The company's platform focuses on delivering pharmacy and provider services, including clinical and supportive care in home and community settings to Medicare, Medicaid, and insured populations.