Oak Ridge Investments LLC Makes New $9.46 Million Investment in BrightSpring Health Services, Inc. $BTSG

Key Points

• Oak Ridge Investments LLC bought a new stake of 252,722 shares in BrightSpring (NASDAQ:BTSG), investing about $9.46 million
• Multiple analysts have raised price targets (e.g., Wells Fargo to $50, Morgan Stanley to $48, Mizuho to $52), leaving a consensus rating of Buy and an average price target of $45.50.
• Insiders sold a combined 285,000 shares worth about $11.7 million in the last quarter (including 220,000 shares by Jon B. Rousseau), reflecting a material reduction in insider positions.

Oak Ridge Investments LLC purchased a new stake in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 252,722 shares of the company's stock, valued at approximately $9,464,000. Oak Ridge Investments LLC owned approximately 0.14% of BrightSpring Health Services at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in BTSG. EverSource Wealth Advisors LLC acquired a new stake in shares of BrightSpring Health Services in the 2nd quarter valued at approximately $43,000. CWM LLC boosted its stake in shares of BrightSpring Health Services by 105.3% in the 3rd quarter. CWM LLC now owns 1,595 shares of the company's stock valued at $47,000 after purchasing an additional 818 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of BrightSpring Health Services by 134.8% in the 4th quarter. GAMMA Investing LLC now owns 2,259 shares of the company's stock valued at $85,000 after purchasing an additional 1,297 shares in the last quarter. Amalgamated Bank raised its holdings in BrightSpring Health Services by 62.7% in the 3rd quarter. Amalgamated Bank now owns 3,041 shares of the company's stock valued at $90,000 after buying an additional 1,172 shares during the last quarter. Finally, Sandia Investment Management LP bought a new position in BrightSpring Health Services in the 2nd quarter valued at approximately $118,000.

Analyst Ratings Changes

A number of research analysts recently issued reports on BTSG shares. Wells Fargo & Company raised their price objective on shares of BrightSpring Health Services from $43.00 to $50.00 and gave the company an "overweight" rating in a report on Monday, March 2nd. Morgan Stanley raised their price objective on shares of BrightSpring Health Services from $40.00 to $48.00 and gave the company an "overweight" rating in a report on Wednesday, March 4th. TD Cowen reiterated a "buy" rating on shares of BrightSpring Health Services in a report on Monday, March 2nd. Zacks Research upgraded shares of BrightSpring Health Services from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 3rd. Finally, Mizuho raised their price objective on shares of BrightSpring Health Services from $50.00 to $52.00 and gave the company an "outperform" rating in a report on Wednesday, March 18th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $45.50.

BrightSpring Health Services Trading Up 1.7%

BTSG opened at $46.08 on Tuesday. The company has a fifty day moving average of $41.41 and a 200-day moving average of $37.17. The stock has a market cap of $8.92 billion, a PE ratio of 52.37, a price-to-earnings-growth ratio of 0.60 and a beta of 2.03. The company has a quick ratio of 1.12, a current ratio of 1.57 and a debt-to-equity ratio of 1.32. BrightSpring Health Services, Inc. has a twelve month low of $15.48 and a twelve month high of $46.69.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last released its quarterly earnings data on Friday, February 27th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.01). The company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.38 billion. BrightSpring Health Services had a net margin of 1.48% and a return on equity of 12.66%. The business's revenue was up 29.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.11 EPS. On average, sell-side analysts predict that BrightSpring Health Services, Inc. will post 0.59 EPS for the current year.

Insider Activity

In other news, insider Lisa A. Nalley sold 30,000 shares of BrightSpring Health Services stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $41.15, for a total value of $1,234,500.00. Following the completion of the sale, the insider owned 110,594 shares in the company, valued at $4,550,943.10. The trade was a 21.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jon B. Rousseau sold 220,000 shares of BrightSpring Health Services stock in a transaction on 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 sale, the insider owned 1,023,880 shares of the company's stock, valued at $42,132,662. This represents a 17.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 285,000 shares of company stock worth $11,727,750 in the last quarter. 3.40% of the stock is owned by corporate 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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