Seven Grand Managers LLC Makes New Investment in BrightSpring Health Services, Inc. $BTSG

Key Points

• Seven Grand Managers LLC opened a new position in BrightSpring Health Services, buying 300,000 shares worth about $11.2 million in the fourth quarter.
• Several other institutional investors also increased exposure, including Vanguard, The Manufacturers Life Insurance Company, Jane Street, 8 Knots Management, and Dimensional Fund Advisors, signaling broad institutional interest in BTSG.
• Analysts remain bullish after BrightSpring’s latest results, with the company beating Q1 earnings and revenue estimates; the stock has a consensus Buy rating and a $57 average price target, while shares recently traded near their 52-week high.

Seven Grand Managers LLC acquired a new stake in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 300,000 shares of the company's stock, valued at approximately $11,235,000. Seven Grand Managers LLC owned about 0.17% of BrightSpring Health Services as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in BTSG. Vanguard Group Inc. lifted its stake in shares of 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 acquiring an additional 2,928,953 shares during the period. The Manufacturers Life Insurance Company increased its position in 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 purchasing an additional 2,056,920 shares during the period. Jane Street Group LLC raised its holdings in BrightSpring Health Services by 855.4% during the 2nd quarter. Jane Street Group LLC now owns 2,076,730 shares of the company's stock worth $48,990,000 after purchasing an additional 1,859,369 shares during the last quarter. 8 Knots Management LLC bought a new stake in BrightSpring Health Services during the 3rd quarter worth about $51,244,000. Finally, Dimensional Fund Advisors LP lifted its position in BrightSpring Health Services by 123.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,096,949 shares of the company's stock valued at $61,966,000 after purchasing an additional 1,160,500 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on BTSG shares. BTIG Research lifted 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 report on Monday, May 4th. Stephens increased their price objective on shares of BrightSpring Health Services from $53.00 to $64.00 and gave the company an "overweight" rating in a report on Monday, May 4th. Zacks Research raised shares of BrightSpring Health Services from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $60.00 target price on shares of BrightSpring Health Services in a report on Monday, May 4th. Finally, Wells Fargo & Company upped their target price on shares of BrightSpring Health Services from $50.00 to $61.00 and gave the company an "overweight" rating in a research report on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $57.00.

BrightSpring Health Services Stock Performance

Shares of BTSG stock opened at $60.55 on Thursday. The stock has a market cap of $11.74 billion, a PE ratio of 42.94, a price-to-earnings-growth ratio of 0.79 and a beta of 1.71. The stock has a 50-day moving average of $48.91 and a 200-day moving average of $41.75. 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, Inc. has a one year low of $19.01 and a one year high of $60.91.

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 for the quarter, topping the consensus estimate of $0.29 by $0.10. The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.39 billion. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. BrightSpring Health Services's quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.14 EPS. As a group, sell-side analysts expect that BrightSpring Health Services, Inc. will post 1.64 earnings per share for the current year.

Insider Transactions at BrightSpring Health Services

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 transaction of $1,234,500.00. Following the transaction, the insider directly owned 110,594 shares of the company's stock, valued at $4,550,943.10. This trade represents a 21.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jon B. Rousseau sold 220,000 shares of the business's 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 transaction, the insider directly owned 1,023,880 shares of the company's stock, valued at $42,132,662. This trade represents a 17.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 285,000 shares of company stock valued at $11,727,750 over the last three months. 2.80% of the stock is currently owned by corporate insiders.

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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