Neo Ivy Capital Management Makes New Investment in BrightSpring Health Services, Inc. (NASDAQ:BTSG)

Key Points

• Neo Ivy Capital Management has acquired a new stake in BrightSpring Health Services, purchasing 28,868 shares worth approximately $522,000 in the first quarter.
• BrightSpring Health Services reported a quarterly earnings per share of $0.19, exceeding analysts' expectations of $0.09, with revenues reaching $2.88 billion.
• Several hedge funds boosted their holdings in BrightSpring Health Services, including FMR LLC, which increased its position by 21.6%.

Neo Ivy Capital Management acquired a new stake in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 28,868 shares of the company's stock, valued at approximately $522,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Royce & Associates LP purchased a new position in shares of BrightSpring Health Services in the 1st quarter valued at approximately $869,000. IFP Advisors Inc boosted its position in BrightSpring Health Services by 273,666.7% in the 1st quarter. IFP Advisors Inc now owns 8,213 shares of the company's stock worth $149,000 after purchasing an additional 8,210 shares in the last quarter. Hussman Strategic Advisors Inc. acquired a new position in shares of BrightSpring Health Services in the first quarter worth about $1,899,000. Victory Capital Management Inc. acquired a new position in shares of BrightSpring Health Services during the 1st quarter worth approximately $2,446,000. Finally, New York State Common Retirement Fund raised its holdings in BrightSpring Health Services by 131.8% in the 1st quarter. New York State Common Retirement Fund now owns 37,918 shares of the company's stock valued at $686,000 after acquiring an additional 21,563 shares during the last quarter.

BrightSpring Health Services Stock Up 4.2%

Shares of BTSG stock traded up $0.85 on Wednesday, hitting $20.95. 870,749 shares of the stock were exchanged, compared to its average volume of 1,975,502. The firm has a market capitalization of $3.68 billion, a P/E ratio of 74.82 and a beta of 2.30. BrightSpring Health Services, Inc. has a fifty-two week low of $10.15 and a fifty-two week high of $25.57. The business has a 50-day moving average of $22.05 and a 200 day moving average of $20.44. The company has a current ratio of 1.73, a quick ratio of 1.37 and a debt-to-equity ratio of 1.48.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.10. The company had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.74 billion. BrightSpring Health Services had a net margin of 0.49% and a return on equity of 7.76%. The company's revenue was up 25.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.12 earnings per share. Equities analysts anticipate that BrightSpring Health Services, Inc. will post 0.59 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on BTSG shares. Wall Street Zen cut BrightSpring Health Services from a "strong-buy" rating to a "buy" rating in a report on Saturday. Morgan Stanley increased their price objective on BrightSpring Health Services from $20.00 to $25.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Mizuho set a $26.00 price objective on shares of BrightSpring Health Services in a research note on Monday, May 5th. TD Cowen assumed coverage on shares of BrightSpring Health Services in a research note on Monday, June 23rd. They set a "buy" rating and a $37.00 price target for the company. Finally, Wells Fargo & Company increased their target price on BrightSpring Health Services from $25.00 to $27.00 and gave the company an "overweight" rating in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $24.90.

Insider Buying and Selling at BrightSpring Health Services

In related news, insider Jon B. Rousseau sold 531,840 shares of the business's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $21.75, for a total value of $11,567,520.00. Following the completion of the sale, the insider directly owned 1,184,133 shares of the company's stock, valued at $25,754,892.75. The trade was a 30.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Phoenix Aggregator L.P. Kkr sold 13,288,101 shares of the company's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $21.15, for a total value of $281,043,336.15. Following the completion of the transaction, the insider owned 79,671,883 shares of the company's stock, valued at $1,685,060,325.45. The trade was a 14.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,919,941 shares of company stock worth $337,025,856. Corporate insiders own 3.40% of the company's stock.

BrightSpring Health Services Profile

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.