Integral Health Asset Management LLC Cuts Position in BrightSpring Health Services, Inc. $BTSG

Key Points

• Institutional shifts: Integral Health Asset Management trimmed its stake by 8% to 1.15M shares, but several major institutions materially increased holdings—Invesco (+47.7% to 9.12M shares), Manufacturers Life (+936.4%), Jane Street (+855.4%), Dimensional (+123.9%) and Voya (+556.1%).
• Earnings and analyst view: BrightSpring slightly missed EPS ($0.33 vs. $0.34 est.) but posted a revenue beat of $3.55B (up 29.3% YoY), and Wall Street consensus remains a Buy with an average price target of $44.08.
• Insider selling: Insiders have sold 285,000 shares worth $11.7M in the past 90 days (including 35,000 by the CFO and 220,000 by another insider), leaving insiders with 3.4% ownership.

Integral Health Asset Management LLC decreased its position in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 8.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,150,000 shares of the company's stock after selling 100,000 shares during the quarter. BrightSpring Health Services comprises about 2.3% of Integral Health Asset Management LLC's investment portfolio, making the stock its 7th largest holding. Integral Health Asset Management LLC owned about 0.64% of BrightSpring Health Services worth $33,994,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of BTSG. Invesco Ltd. lifted its position in BrightSpring Health Services by 47.7% in the 2nd quarter. Invesco Ltd. now owns 9,119,408 shares of the company's stock valued at $215,127,000 after purchasing an additional 2,946,811 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in BrightSpring Health Services by 936.4% during the 2nd 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 during the period. Jane Street Group LLC grew its position in BrightSpring Health Services by 855.4% in the 2nd quarter. Jane Street Group LLC now owns 2,076,730 shares of the company's stock worth $48,990,000 after purchasing an additional 1,859,369 shares during the last quarter. Dimensional Fund Advisors LP grew its position in BrightSpring Health Services by 123.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,096,949 shares of the company's stock worth $61,966,000 after purchasing an additional 1,160,500 shares during the last quarter. Finally, Voya Investment Management LLC increased its stake in shares of BrightSpring Health Services by 556.1% in the third quarter. Voya Investment Management LLC now owns 1,343,775 shares of the company's stock valued at $39,722,000 after purchasing an additional 1,138,965 shares during the period.

BrightSpring Health Services Stock Performance

NASDAQ:BTSG opened at $38.31 on Friday. The company has a 50-day moving average of $39.76 and a 200-day moving average of $34.48. The firm has a market cap of $7.41 billion, a price-to-earnings ratio of 43.53, a price-to-earnings-growth ratio of 0.51 and a beta of 2.31. The company has a current ratio of 1.57, a quick ratio of 1.12 and a debt-to-equity ratio of 1.32. BrightSpring Health Services, Inc. has a twelve month low of $15.48 and a twelve month high of $44.87.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last released its earnings results on Friday, February 27th. The company reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.34 by ($0.01). BrightSpring Health Services had a return on equity of 12.66% and a net margin of 1.48%.The business had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the previous year, the firm earned $0.11 earnings per share. The firm's revenue for the quarter was up 29.3% compared to the same quarter last year. Analysts forecast that BrightSpring Health Services, Inc. will post 0.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BrightSpring Health Services news, CFO Jennifer A. Phipps sold 35,000 shares of the company's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total value of $1,440,250.00. Following the transaction, the chief financial officer owned 196,840 shares of the company's stock, valued at approximately $8,099,966. This represents a 15.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jon B. Rousseau sold 220,000 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $41.15, for a total value of $9,053,000.00. Following the sale, the insider owned 1,023,880 shares of the company's stock, valued at $42,132,662. This trade represents a 17.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 285,000 shares of company stock worth $11,727,750. 3.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on BTSG shares. BTIG Research reaffirmed a "buy" rating and set a $55.00 price target on shares of BrightSpring Health Services in a report on Monday, March 2nd. Bank of America raised their target price on BrightSpring Health Services from $38.00 to $41.00 and gave the company a "buy" rating in a research report on Tuesday, December 9th. Mizuho lifted their target price on BrightSpring Health Services from $45.00 to $50.00 and gave the company an "outperform" rating in a research note on Tuesday, March 3rd. Wells Fargo & Company boosted their price target on BrightSpring Health Services from $43.00 to $50.00 and gave the stock an "overweight" rating in a research report on Monday, March 2nd. Finally, Wall Street Zen cut BrightSpring Health Services from a "strong-buy" rating to a "buy" rating in a research note on Saturday, November 15th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $44.08.

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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