JPMorgan Chase & Co. Grows Position in BrightSpring Health Services, Inc. $BTSG

Key Points

• JPMorgan Chase & Co. increased its stake in BrightSpring by 16.6% to 298,750 shares, worth about $8.83 million.
• BrightSpring's latest quarter showed revenue up 29.3% year-over-year to $3.55 billion, while EPS was $0.33, missing consensus by $0.01.
• Company insiders sold a total of 285,000 shares in the past 90 days (roughly $11.73 million), leaving insiders with 3.40% ownership.

JPMorgan Chase & Co. grew its holdings in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 16.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 298,750 shares of the company's stock after buying an additional 42,603 shares during the period. JPMorgan Chase & Co. owned 0.17% of BrightSpring Health Services worth $8,831,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BTSG. AQR Capital Management LLC acquired a new stake in BrightSpring Health Services in the 1st quarter valued at about $276,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of BrightSpring Health Services by 5.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,429 shares of the company's stock worth $587,000 after purchasing an additional 1,780 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of BrightSpring Health Services by 0.3% during the 1st quarter. Millennium Management LLC now owns 577,885 shares of the company's stock worth $10,454,000 after purchasing an additional 1,967 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of BrightSpring Health Services by 11.0% in the first 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 purchasing an additional 14,586 shares in the last quarter. Finally, Swiss National Bank increased its holdings in shares of BrightSpring Health Services by 13.2% in the second quarter. Swiss National Bank now owns 133,700 shares of the company's stock valued at $3,154,000 after purchasing an additional 15,600 shares during the last quarter.

BrightSpring Health Services Stock Performance

BTSG opened at $42.33 on Monday. The stock has a market capitalization of $8.19 billion, a PE ratio of 48.10, a P/E/G ratio of 0.56 and a beta of 2.30. BrightSpring Health Services, Inc. has a one year low of $15.48 and a one year high of $45.59. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.12 and a current ratio of 1.57. The business's 50 day moving average price is $40.44 and its 200 day moving average price is $35.88.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last posted its earnings results on Friday, February 27th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $3.38 billion. During the same period last year, the business earned $0.11 EPS. BrightSpring Health Services's revenue was up 29.3% compared to the same quarter last year. As a group, equities research analysts expect that BrightSpring Health Services, Inc. will post 0.59 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on BTSG. CJS Securities upgraded BrightSpring Health Services to a "strong-buy" rating in a research report on Thursday, December 11th. Mizuho raised their target price on BrightSpring Health Services from $50.00 to $52.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 18th. TD Cowen reiterated a "buy" rating on shares of BrightSpring Health Services in a report on Monday, March 2nd. Morgan Stanley boosted their price target on shares of BrightSpring Health Services from $40.00 to $48.00 and gave the company an "overweight" rating in a research report on Wednesday, March 4th. Finally, William Blair initiated coverage on shares of BrightSpring Health Services in a report on Monday, December 8th. They issued an "outperform" rating for the company. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $45.50.

Insider Buying and Selling

In related news, insider Lisa A. Nalley sold 30,000 shares of the firm's stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total transaction of $1,234,500.00. Following the completion of the sale, the insider directly owned 110,594 shares of the company's stock, valued at approximately $4,550,943.10. This trade represents a 21.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jon B. Rousseau sold 220,000 shares of the company's stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $41.15, for a total transaction of $9,053,000.00. Following the completion of the transaction, the insider directly owned 1,023,880 shares in the company, valued at $42,132,662. The trade was a 17.69% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 285,000 shares of company stock valued at $11,727,750. 3.40% of the stock is currently owned by insiders.

BrightSpring Health Services 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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