Healthcare of Ontario Pension Plan Trust Fund Raises Position in BrightSpring Health Services, Inc. $BTSG

Key Points

• Institutional ownership rose: Healthcare of Ontario Pension Plan Trust Fund increased its BrightSpring Health Services stake by 12.7% in the fourth quarter, ending with 2.48 million shares worth about $92.8 million.
• Analysts remain bullish: Several firms raised price targets or upgraded the stock, including Goldman Sachs and Morgan Stanley, and the consensus rating is currently a Buy with an average target price of $58.53.
• Strong earnings and stock performance: BrightSpring reported Q1 EPS of $0.39 versus $0.29 expected, with revenue of $3.61 billion topping estimates and rising 25.6% year over year, while the stock traded near its 1-year high at $63.23.

Healthcare of Ontario Pension Plan Trust Fund boosted its stake in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 12.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,478,525 shares of the company's stock after buying an additional 278,525 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 1.37% of BrightSpring Health Services worth $92,821,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BTSG. AQR Capital Management LLC purchased a new position in BrightSpring Health Services in the 1st quarter valued at about $276,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in BrightSpring Health Services by 5.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,429 shares of the company's stock valued at $587,000 after buying an additional 1,780 shares in the last quarter. Millennium Management LLC lifted its stake in BrightSpring Health Services by 0.3% in the 1st quarter. Millennium Management LLC now owns 577,885 shares of the company's stock valued at $10,454,000 after buying an additional 1,967 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in BrightSpring Health Services by 11.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,280 shares of the company's stock valued at $2,664,000 after buying an additional 14,586 shares in the last quarter. Finally, Prudential Financial Inc. purchased a new position in BrightSpring Health Services in the 2nd quarter valued at about $351,000.

Analyst Ratings Changes

A number of research firms have weighed in on BTSG. BTIG Research raised their target price on shares of BrightSpring Health Services from $55.00 to $65.00 and gave the stock a "buy" rating in a research note on Monday, May 4th. 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. Morgan Stanley raised their target price on shares of BrightSpring Health Services from $62.00 to $71.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 2nd. TD Cowen raised their target price on shares of BrightSpring Health Services from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Monday, May 4th. Finally, The Goldman Sachs Group began coverage on shares of BrightSpring Health Services in a research note on Monday, June 8th. They issued a "buy" rating and a $71.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $58.53.

BrightSpring Health Services Trading Up 0.2%

BTSG opened at $63.23 on Friday. 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 $53.17 and its two-hundred day simple moving average is $44.00. BrightSpring Health Services, Inc. has a 1-year low of $19.01 and a 1-year high of $64.18. The firm has a market capitalization of $12.47 billion, a price-to-earnings ratio of 44.84, a price-to-earnings-growth ratio of 0.82 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 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.10. The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.39 billion. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The business's revenue was up 25.6% on a year-over-year basis. During the same period last year, the company posted $0.14 EPS. Analysts expect that BrightSpring Health Services, Inc. will post 1.67 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Jon B. Rousseau sold 130,000 shares of the firm'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 transaction of $7,637,500.00. Following the completion of the sale, the insider owned 1,194,503 shares in the company, valued at $70,177,051.25. This trade represents a 9.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lisa A. Nalley sold 35,000 shares of the firm'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 sale, the insider owned 131,948 shares of the company's stock, valued at $7,751,945. This represents a 20.96% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.80% of the stock is 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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