722,341 Shares in BrightSpring Health Services, Inc. $BTSG Acquired by Iron Triangle Partners LP

Key Points

• Iron Triangle Partners LP acquired a new stake in BrightSpring Health Services, purchasing 722,341 shares valued at approximately $13.1 million, representing 2.1% of its investment portfolio.
• BrightSpring Health Services experienced significant increases in institutional interest, with T. Rowe Price increasing its position by 264.7% and Invesco boosting holdings by 41.0% in the first quarter.
• Analysts maintain a consensus rating of "Moderate Buy" for BrightSpring Health Services, with a consensus target price of $25.67 after several upward adjustments from firms like Wells Fargo and Morgan Stanley.

Iron Triangle Partners LP acquired a new stake in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 722,341 shares of the company's stock, valued at approximately $13,067,000. BrightSpring Health Services accounts for 2.1% of Iron Triangle Partners LP's investment portfolio, making the stock its 25th largest position. Iron Triangle Partners LP owned about 0.41% of BrightSpring Health Services at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. State of Wyoming increased its holdings in BrightSpring Health Services by 15.4% in the first quarter. State of Wyoming now owns 22,941 shares of the company's stock valued at $415,000 after purchasing an additional 3,062 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in BrightSpring Health Services by 264.7% in the first quarter. T. Rowe Price Investment Management Inc. now owns 5,772,772 shares of the company's stock valued at $104,430,000 after purchasing an additional 4,189,805 shares during the period. Northern Trust Corp boosted its position in BrightSpring Health Services by 5.8% during the first quarter. Northern Trust Corp now owns 566,623 shares of the company's stock valued at $10,250,000 after acquiring an additional 31,289 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in BrightSpring Health Services during the first quarter valued at $656,000. Finally, Informed Momentum Co LLC acquired a new position in shares of BrightSpring Health Services in the 1st quarter valued at about $3,237,000.

BrightSpring Health Services Stock Up 0.8%

BTSG stock traded up $0.19 during trading on Tuesday, reaching $23.88. The stock had a trading volume of 1,173,034 shares, compared to its average volume of 2,051,487. BrightSpring Health Services, Inc. has a one year low of $12.35 and a one year 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. The company's 50 day moving average is $21.76 and its two-hundred day moving average is $20.55. The company has a market capitalization of $4.23 billion, a price-to-earnings ratio of 77.03 and a beta of 2.26.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last released its earnings results on Friday, August 1st. The company reported $0.22 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.03. The firm had revenue of $3.15 billion for the quarter, compared to analysts' expectations 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 quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 earnings per share. BrightSpring Health Services has set its FY 2025 guidance at EPS. Equities research analysts forecast that BrightSpring Health Services, Inc. will post 0.59 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. 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 objective on the stock. Cowen reissued a "buy" rating on shares of BrightSpring Health Services in a research note on Monday, August 4th. Wells Fargo & Company upped their price objective on shares of BrightSpring Health Services from $25.00 to $27.00 and gave the company an "overweight" rating in a 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 report on Saturday, July 26th. Finally, Mizuho set a $26.00 price objective on shares of BrightSpring Health Services in a report on Monday, May 5th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $25.67.

Insider Activity at BrightSpring Health Services

In related news, major shareholder Phoenix Aggregator L.P. Kkr sold 2,100,000 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $21.15, for a total transaction of $44,415,000.00. Following the sale, the insider directly owned 77,096,337 shares in the company, valued at approximately $1,630,587,527.55. This represents a 2.65% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jon B. Rousseau sold 531,840 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $21.75, for a total transaction of $11,567,520.00. Following the sale, 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 disclosure for this sale can be found here. In the last three months, insiders sold 15,919,941 shares of company stock worth $337,025,856. Insiders own 3.40% of the company's stock.

About BrightSpring Health Services

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.