Healthcare of Ontario Pension Plan Trust Fund Sells 978,525 Shares of BrightSpring Health Services, Inc. $BTSG

Key Points

• Healthcare of Ontario Pension Plan Trust Fund cut its BrightSpring Health Services stake by 39.5% in Q1, selling 978,525 shares and ending with 1.5 million shares valued at about $63.9 million.
• BrightSpring reported stronger-than-expected Q1 results, with EPS of $0.39 versus $0.29 expected and revenue of $3.61 billion, up 25.6% year over year.
• Insiders and analysts remain active on the stock: two executives sold shares in June, while analysts mostly stay bullish with a consensus Buy rating and a $70.12 average price target.

Healthcare of Ontario Pension Plan Trust Fund reduced its position in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 39.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,500,000 shares of the company's stock after selling 978,525 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.77% of BrightSpring Health Services worth $63,915,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. CWM LLC raised its stake in BrightSpring Health Services by 17.5% during the fourth quarter. CWM LLC now owns 1,874 shares of the company's stock worth $70,000 after buying an additional 279 shares during the last quarter. State of Wyoming boosted its position in BrightSpring Health Services by 4.5% during the first quarter. State of Wyoming now owns 7,776 shares of the company's stock valued at $331,000 after acquiring an additional 336 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in BrightSpring Health Services by 17.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,826 shares of the company's stock worth $143,000 after acquiring an additional 565 shares during the period. Moran Wealth Management LLC grew its holdings in BrightSpring Health Services by 9.0% during the 1st quarter. Moran Wealth Management LLC now owns 6,925 shares of the company's stock worth $295,000 after acquiring an additional 572 shares during the period. Finally, GHP Investment Advisors Inc. bought a new position in shares of BrightSpring Health Services in the 1st quarter worth about $31,000.

BrightSpring Health Services Price Performance

BTSG opened at $72.91 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 has a market capitalization of $14.38 billion, a price-to-earnings ratio of 51.71, a P/E/G ratio of 0.92 and a beta of 1.79. The firm's fifty day moving average price is $65.20 and its two-hundred day moving average price is $50.81. BrightSpring Health Services, Inc. has a 1 year low of $19.01 and a 1 year high of $73.40.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last announced its earnings results on Friday, May 1st. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.29 by $0.10. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the prior year, the company posted $0.14 earnings per share. The firm's revenue for the quarter was up 25.6% on a year-over-year basis. As a group, analysts anticipate that BrightSpring Health Services, Inc. will post 1.7 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Lisa A. Nalley sold 35,000 shares of the business'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 value of $2,056,250.00. Following the transaction, the insider owned 131,948 shares in the company, valued at $7,751,945. The trade was a 20.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jon B. Rousseau sold 130,000 shares of the company'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 value of $7,637,500.00. Following the completion of the transaction, the insider directly owned 1,194,503 shares of the company's stock, valued at approximately $70,177,051.25. This represents a 9.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 2.80% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Zacks Research lowered BrightSpring Health Services from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 6th. The Goldman Sachs Group assumed coverage on BrightSpring Health Services in a report on Monday, June 8th. They issued a "buy" rating and a $71.00 target price for the company. Morgan Stanley boosted their price target on BrightSpring Health Services from $71.00 to $80.00 and gave the company an "overweight" rating in a research note on Tuesday, July 14th. KeyCorp increased their price target on BrightSpring Health Services from $60.00 to $80.00 and gave the stock an "overweight" rating in a report on Tuesday, July 14th. Finally, BTIG Research raised their price objective on shares of BrightSpring Health Services from $65.00 to $90.00 and gave the stock a "buy" rating in a research report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, BrightSpring Health Services currently has a consensus rating of "Buy" and a consensus price target of $70.12.

BrightSpring Health Services Company Profile

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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