TD Asset Management Inc Grows Stock Position in BrightSpring Health Services, Inc. $BTSG

Key Points

• TD Asset Management boosted its BrightSpring Health Services stake by 34.8% in the fourth quarter, ending with 640,369 shares valued at about $24 million.
• BrightSpring reported strong quarterly results, with EPS of $0.39 beating estimates by $0.10 and revenue of $3.61 billion, up 25.6% year over year.
• Despite recent insider selling, analysts remain bullish overall: the stock has a consensus “Buy” rating and a consensus price target of $58.53, with several firms raising targets to as high as $70.

TD Asset Management Inc lifted its position in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 34.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 640,369 shares of the company's stock after acquiring an additional 165,381 shares during the period. TD Asset Management Inc owned 0.36% of BrightSpring Health Services worth $23,982,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in BTSG. Prescott Group Capital Management L.L.C. purchased a new position in shares of BrightSpring Health Services during the 3rd quarter worth $887,000. Vanguard Group Inc. increased its position in BrightSpring Health Services by 6.4% during the third quarter. Vanguard Group Inc. now owns 9,604,703 shares of the company's stock worth $283,915,000 after purchasing an additional 576,906 shares during the last quarter. 8 Knots Management LLC purchased a new position in BrightSpring Health Services during the third quarter worth about $51,244,000. Victory Capital Management Inc. boosted its holdings in 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 during the last quarter. Finally, Iron Triangle Partners LP boosted its holdings in BrightSpring Health Services by 3.2% in the 3rd quarter. Iron Triangle Partners LP now owns 1,238,520 shares of the company's stock valued at $36,611,000 after purchasing an additional 38,520 shares during the last quarter.

Insiders Place Their Bets

In related news, insider Jon B. Rousseau sold 130,000 shares of the business's stock in a transaction on Friday, June 5th. The stock was sold at an average price of $58.75, for a total transaction of $7,637,500.00. Following the completion of the transaction, the insider directly owned 1,194,503 shares of the company's stock, valued at $70,177,051.25. The trade was a 9.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Lisa A. Nalley sold 35,000 shares of the company's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $58.75, for a total value of $2,056,250.00. Following the sale, the insider owned 131,948 shares in the company, valued at approximately $7,751,945. This trade represents a 20.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.80% of the company's stock.

BrightSpring Health Services Price Performance

Shares of BTSG opened at $57.40 on Monday. The company has a market cap of $11.32 billion, a P/E ratio of 40.71, a PEG ratio of 0.74 and a beta of 1.87. BrightSpring Health Services, Inc. has a fifty-two week low of $19.01 and a fifty-two week high of $62.11. The company has a quick ratio of 1.38, a current ratio of 1.74 and a debt-to-equity ratio of 1.24. The firm's 50 day moving average price is $51.25 and its 200 day moving average price is $43.07.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.39 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 business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the previous year, the firm posted $0.14 earnings per share. The company's quarterly revenue was up 25.6% compared to the same quarter last year. On average, research analysts forecast that BrightSpring Health Services, Inc. will post 1.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. 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 report on Monday, May 4th. Stephens increased their price objective on BrightSpring Health Services from $53.00 to $64.00 and gave the stock an "overweight" rating in a research report on Monday, May 4th. UBS Group raised their target price on BrightSpring Health Services from $53.00 to $55.00 and gave the stock a "buy" rating in a research note on Wednesday, March 18th. Wall Street Zen downgraded BrightSpring Health Services from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 23rd. Finally, BMO Capital Markets set a $70.00 price target on BrightSpring Health Services in a report on Thursday, May 21st. Two analysts have rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the company's stock. According to MarketBeat, BrightSpring Health Services presently has a consensus rating of "Buy" and a consensus target price of $58.53.

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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