Lisanti Capital Growth LLC Boosts Holdings in BrightSpring Health Services, Inc. $BTSG

Key Points

• Lisanti Capital Growth LLC increased its BrightSpring Health Services stake by 129.7% in Q4, buying 85,925 additional shares to bring its total to 152,195 shares worth about $5.7 million.
• Insider selling was notable, with CFO Jennifer A. Phipps and insider Lisa A. Nalley selling shares on March 4; insiders have sold 285,000 shares over the last 90 days.
• BrightSpring reported better-than-expected quarterly results, posting EPS of $0.39 versus $0.29 expected and revenue of $3.61 billion, while analysts have mostly maintained bullish ratings and lifted price targets.

Lisanti Capital Growth LLC raised its stake in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 129.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 152,195 shares of the company's stock after purchasing an additional 85,925 shares during the period. BrightSpring Health Services accounts for 1.4% of Lisanti Capital Growth LLC's holdings, making the stock its 23rd biggest position. Lisanti Capital Growth LLC owned about 0.08% of BrightSpring Health Services worth $5,700,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings 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 valued at $469,385,000 after purchasing an additional 2,928,953 shares in the last quarter. Invesco Ltd. lifted its holdings in BrightSpring Health Services by 2.5% during the third quarter. Invesco Ltd. now owns 9,347,125 shares of the company's stock valued at $276,301,000 after purchasing an additional 227,717 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of BrightSpring Health Services by 12.1% in the second quarter. Alliancebernstein L.P. now owns 5,450,085 shares of the company's stock worth $128,568,000 after buying an additional 588,642 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of BrightSpring Health Services by 936.4% in the second quarter. The Manufacturers Life Insurance Company now owns 2,276,583 shares of the company's stock worth $53,705,000 after buying an additional 2,056,920 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of BrightSpring Health Services by 123.9% in the third quarter. Dimensional Fund Advisors LP now owns 2,096,949 shares of the company's stock worth $61,966,000 after buying an additional 1,160,500 shares in the last quarter.

Insider Buying and Selling

In related news, CFO Jennifer A. Phipps sold 35,000 shares of the firm'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 $1,440,250.00. Following the completion of the sale, the chief financial officer directly owned 196,840 shares in the company, valued at approximately $8,099,966. This trade represents a 15.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 sale, the insider owned 110,594 shares of the company's stock, valued at approximately $4,550,943.10. The trade was a 21.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 285,000 shares of company stock worth $11,727,750. Insiders own 2.80% of the company's stock.

BrightSpring Health Services Stock Performance

NASDAQ:BTSG opened at $58.50 on Friday. The company's 50-day moving average price is $47.64 and its 200-day moving average price is $41.12. The company has a current ratio of 1.74, a quick ratio of 1.38 and a debt-to-equity ratio of 1.24. The company has a market cap of $11.34 billion, a P/E ratio of 41.49, a P/E/G ratio of 0.77 and a beta of 1.71. BrightSpring Health Services, Inc. has a twelve month low of $19.01 and a twelve month high of $59.65.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last released its quarterly earnings data on Friday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.10. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The firm had revenue of $3.61 billion during the quarter, compared to analysts' expectations of $3.39 billion. During the same period last year, the business earned $0.14 earnings per share. BrightSpring Health Services's revenue was up 25.6% compared to the same quarter last year. On average, sell-side analysts forecast that BrightSpring Health Services, Inc. will post 1.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on BTSG. KeyCorp raised their price target on shares of BrightSpring Health Services from $55.00 to $60.00 and gave the stock an "overweight" rating in a research note on Monday, May 4th. BTIG Research raised their price target on shares of BrightSpring Health Services from $55.00 to $65.00 and gave the stock a "buy" rating in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $60.00 price target on shares of BrightSpring Health Services in a research note on Monday, May 4th. BMO Capital Markets set a $70.00 price target on shares of BrightSpring Health Services in a research note on Thursday. Finally, TD Cowen raised their price target on shares of BrightSpring Health Services from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $57.00.

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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