Informed Momentum Co LLC Takes Position in BrightSpring Health Services, Inc. (NASDAQ:BTSG)

Key Points

• Informed Momentum Co LLC invested approximately $3.24 million in BrightSpring Health Services, acquiring 178,912 shares in the first quarter, giving it a 0.10% ownership in the company.
• BrightSpring Health Services reported $3.15 billion in revenue for the last quarter, exceeding analyst expectations, and its earnings per share of $0.22 beat estimates by $0.03.
• Several analysts have raised their price targets for BrightSpring Health Services, with a consensus price target of $25.67 indicating a potential moderate buy rating.

Informed Momentum Co LLC acquired a new stake in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 178,912 shares of the company's stock, valued at approximately $3,237,000. Informed Momentum Co LLC owned 0.10% of BrightSpring Health Services at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Quarry LP bought a new stake in shares of BrightSpring Health Services in the 4th quarter valued at approximately $29,000. IFP Advisors Inc grew its position in BrightSpring Health Services by 273,666.7% during the 1st quarter. IFP Advisors Inc now owns 8,213 shares of the company's stock worth $149,000 after acquiring an additional 8,210 shares during the last quarter. Highland Capital Management LLC bought a new stake in BrightSpring Health Services during the 1st quarter worth approximately $181,000. Envestnet Asset Management Inc. bought a new stake in BrightSpring Health Services during the 4th quarter worth approximately $188,000. Finally, GAMMA Investing LLC grew its position in BrightSpring Health Services by 2,526.5% during the 1st quarter. GAMMA Investing LLC now owns 14,472 shares of the company's stock worth $262,000 after acquiring an additional 13,921 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Morgan Stanley increased their price target on BrightSpring Health Services from $20.00 to $25.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Wells Fargo & Company increased their price objective on BrightSpring Health Services from $25.00 to $27.00 and gave the company an "overweight" rating in a research report on Tuesday, May 13th. Cowen reiterated a "buy" rating on shares of BrightSpring Health Services in a research report on Monday, August 4th. Mizuho set a $26.00 price target on BrightSpring Health Services in a research note on Monday, May 5th. Finally, TD Cowen assumed coverage on BrightSpring Health Services in a research note on Monday, June 23rd. They issued a "buy" rating and a $37.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $25.67.

BrightSpring Health Services Stock Up 0.8%

Shares of BTSG traded up $0.19 during midday trading on Thursday, hitting $22.58. The stock had a trading volume of 1,935,773 shares, compared to its average volume of 2,062,971. The company has a 50 day simple moving average of $21.44 and a two-hundred day simple moving average of $20.52. BrightSpring Health Services, Inc. has a twelve month low of $11.76 and a twelve month high of $25.57. The firm has a market cap of $4.00 billion, a price-to-earnings ratio of 72.84 and a beta of 2.25. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.76 and a quick ratio of 1.34.

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. BrightSpring Health Services had a return on equity of 9.29% and a net margin of 0.55%. The firm had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter last year, the business posted $0.10 EPS. The company's revenue for the quarter was up 15.3% on a year-over-year basis. On average, analysts anticipate that BrightSpring Health Services, Inc. will post 0.59 EPS for the current year.

Insider Activity

In other BrightSpring Health Services news, insider Jon B. Rousseau sold 531,840 shares of BrightSpring Health Services stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $21.75, for a total value of $11,567,520.00. Following the sale, the insider owned 1,184,133 shares of the company's stock, valued at $25,754,892.75. This trade represents a 30.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Phoenix Aggregator L.P. Kkr sold 2,100,000 shares of BrightSpring Health Services stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $21.15, for a total value of $44,415,000.00. Following the completion of the sale, the insider directly owned 77,096,337 shares in the company, valued at $1,630,587,527.55. This represents a 2.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,919,941 shares of company stock worth $337,025,856 in the last three months. Company insiders own 3.40% of the company's stock.

BrightSpring Health Services Company 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.