SG Americas Securities LLC Has $661,000 Stake in BrightSpring Health Services, Inc. $BTSG

Key Points

• SG Americas Securities LLC cut its BrightSpring Health Services stake by 91.5% in the first quarter, leaving it with 15,512 shares worth about $661,000.
• Several analysts remain bullish on BTSG, with firms including KeyCorp, BMO Capital Markets, Goldman Sachs, and Mizuho raising targets; the stock has a consensus Buy rating and an average price target of $63.67.
• BrightSpring reported strong quarterly results, posting $0.39 EPS on $3.61 billion in revenue, both ahead of estimates, while revenue rose 25.6% year over year.

SG Americas Securities LLC lowered its holdings in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 91.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,512 shares of the company's stock after selling 167,591 shares during the period. SG Americas Securities LLC's holdings in BrightSpring Health Services were worth $661,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Iron Triangle Partners LP grew its position in BrightSpring Health Services by 3.2% in the third quarter. Iron Triangle Partners LP now owns 1,238,520 shares of the company's stock valued at $36,611,000 after acquiring an additional 38,520 shares during the period. 8 Knots Management LLC bought a new position in shares of BrightSpring Health Services during the third quarter valued at $51,244,000. Victory Capital Management Inc. boosted its stake in shares of BrightSpring Health Services by 551.3% in the 3rd quarter. Victory Capital Management Inc. now owns 726,878 shares of the company's stock valued at $21,487,000 after purchasing an additional 615,280 shares in the last quarter. Brevan Howard Capital Management LP boosted its stake in shares of BrightSpring Health Services by 808.4% in the 3rd quarter. Brevan Howard Capital Management LP now owns 113,671 shares of the company's stock valued at $3,360,000 after purchasing an additional 101,157 shares in the last quarter. Finally, New York State Teachers Retirement System bought a new stake in shares of BrightSpring Health Services in the 4th quarter worth about $1,311,000.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. KeyCorp increased their price target on BrightSpring Health Services from $55.00 to $60.00 and gave the stock an "overweight" rating in a research report on Monday, May 4th. BMO Capital Markets set a $70.00 price objective on shares of BrightSpring Health Services in a report on Thursday, May 21st. Weiss Ratings upgraded shares of BrightSpring Health Services from a "hold (c)" rating to a "buy (b-)" rating in a research report on Monday, May 4th. The Goldman Sachs Group began coverage on shares of BrightSpring Health Services in a research note on Monday, June 8th. They issued a "buy" rating and a $71.00 target price for the company. Finally, Mizuho upped their target price on shares of BrightSpring Health Services from $52.00 to $61.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $63.67.

Insider Transactions at BrightSpring Health Services

In other BrightSpring Health Services news, insider Lisa A. Nalley sold 35,000 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $58.75, for a total value of $2,056,250.00. Following the sale, the insider directly owned 131,948 shares in the company, valued at approximately $7,751,945. This trade represents a 20.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jon B. Rousseau sold 130,000 shares of the firm's stock in a transaction on Friday, June 5th. The stock was sold at an average price of $58.75, for a total value of $7,637,500.00. Following the sale, the insider directly owned 1,194,503 shares in the company, valued at $70,177,051.25. The trade was a 9.82% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 2.80% of the company's stock.

BrightSpring Health Services Trading Down 1.6%

NASDAQ:BTSG traded down $1.15 on Tuesday, hitting $69.41. 87,907 shares of the stock were exchanged, compared to its average volume of 2,752,516. The stock has a market capitalization of $13.69 billion, a price-to-earnings ratio of 49.41, a P/E/G ratio of 0.89 and a beta of 1.79. BrightSpring Health Services, Inc. has a 52 week low of $19.01 and a 52 week high of $72.06. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.38 and a current ratio of 1.74. The company's 50-day moving average price is $60.20 and its 200 day moving average price is $47.66.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last released its earnings results on Friday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.10. The company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.39 billion. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The company's revenue was up 25.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.14 EPS. On average, equities research analysts forecast that BrightSpring Health Services, Inc. will post 1.67 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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