Legato Capital Management LLC Has $2.10 Million Stake in BrightSpring Health Services, Inc. $BTSG

Key Points

• Legato Capital Management increased its BrightSpring Health Services stake by 241.6% in the fourth quarter, ending with 56,180 shares valued at about $2.1 million.
• Analyst sentiment remains bullish, with BrightSpring carrying a Buy consensus rating and an average price target of $57; several firms recently issued higher targets, including BMO Capital Markets at $70.
• The company posted a strong quarterly beat, reporting $0.39 EPS on $3.61 billion in revenue, both above expectations, while revenue rose 25.6% year over year.

Legato Capital Management LLC grew its holdings in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 241.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 56,180 shares of the company's stock after acquiring an additional 39,735 shares during the quarter. Legato Capital Management LLC's holdings in BrightSpring Health Services were worth $2,104,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in BrightSpring Health Services by 30.5% during the fourth quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company's stock worth $469,385,000 after acquiring an additional 2,928,953 shares in the last quarter. Invesco Ltd. grew its holdings in shares of BrightSpring Health Services by 2.5% during the third quarter. Invesco Ltd. now owns 9,347,125 shares of the company's stock worth $276,301,000 after purchasing an additional 227,717 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of BrightSpring Health Services by 12.1% during the second quarter. Alliancebernstein L.P. now owns 5,450,085 shares of the company's stock worth $128,568,000 after purchasing an additional 588,642 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of BrightSpring Health Services by 936.4% during the second quarter. The Manufacturers Life Insurance Company now owns 2,276,583 shares of the company's stock worth $53,705,000 after purchasing an additional 2,056,920 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of BrightSpring Health Services by 123.9% during the third 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.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Leerink Partners restated an "outperform" rating and set a $49.00 price target on shares of BrightSpring Health Services in a report on Wednesday, March 18th. Weiss Ratings upgraded BrightSpring Health Services from a "hold (c)" rating to a "buy (b-)" rating in a report on Monday, May 4th. Stephens boosted their price target on BrightSpring Health Services from $53.00 to $64.00 and gave the stock an "overweight" rating in a report on Monday, May 4th. BMO Capital Markets set a $70.00 price target on BrightSpring Health Services in a report on Thursday. Finally, Wall Street Zen cut BrightSpring Health Services from a "strong-buy" rating to a "buy" rating in a report on Saturday. Two research analysts have rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company. Based on data from MarketBeat.com, BrightSpring Health Services presently has a consensus rating of "Buy" and an average price target of $57.00.

Insider Activity at BrightSpring Health Services

In related news, insider Lisa A. Nalley sold 30,000 shares of the company's stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total value of $1,234,500.00. Following the sale, the insider directly owned 110,594 shares in the company, valued at $4,550,943.10. This represents a 21.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Jennifer A. Phipps sold 35,000 shares of the stock in a transaction that occurred 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 in the company, valued at $8,099,966. The trade was a 15.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 285,000 shares of company stock worth $11,727,750 over the last ninety days. Insiders own 2.80% of the company's stock.

BrightSpring Health Services Stock Performance

Shares of BTSG stock opened at $58.50 on Friday. The business's 50 day simple moving average is $47.64 and its 200 day simple moving average is $41.12. BrightSpring Health Services, Inc. has a one year low of $19.01 and a one year high of $59.65. The stock has a market capitalization of $11.34 billion, a PE ratio of 41.49, a PEG ratio of 0.77 and a beta of 1.71. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.74 and a quick ratio of 1.38.

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 return on equity of 14.63% and a net margin of 2.27%.The business had revenue of $3.61 billion for the quarter, compared to analysts' expectations of $3.39 billion. During the same period in the prior year, the business posted $0.14 earnings per share. The firm's revenue was up 25.6% on a year-over-year basis. As a group, research analysts forecast that BrightSpring Health Services, Inc. will post 1.64 earnings per share for the current year.

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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