BrightSpring Health Services, Inc. $BTSG Shares Sold by Braidwell LP

Braidwell LP lowered its holdings in BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 41.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 596,753 shares of the company’s stock after selling 419,809 shares during the period. BrightSpring Health Services comprises about 1.5% of Braidwell LP’s investment portfolio, making the stock its 23rd biggest holding. Braidwell LP owned about 0.30% of BrightSpring Health Services worth $41,618,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of America Corp DE boosted its position in BrightSpring Health Services by 48.7% during the 1st quarter. Bank of America Corp DE now owns 1,534,154 shares of the company’s stock valued at $65,370,000 after purchasing an additional 502,786 shares during the period. New York State Teachers Retirement System acquired a new stake in BrightSpring Health Services in the fourth quarter worth $1,311,000. Ausbil Investment Management Ltd acquired a new stake in BrightSpring Health Services in the second quarter worth $2,005,000. Wealthstar Advisors LLC acquired a new position in shares of BrightSpring Health Services during the first quarter valued at $1,525,000. Finally, Bellars Harris Wealth Management LLC bought a new position in shares of BrightSpring Health Services during the second quarter worth about $4,394,000.

Analysts Set New Price Targets

Several brokerages recently weighed in on BTSG. TD Cowen lifted their price objective on shares of BrightSpring Health Services from $65.00 to $81.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $70.00 target price on shares of BrightSpring Health Services in a research report on Monday, August 3rd. Weiss Ratings restated a “buy (b-)” rating on shares of BrightSpring Health Services in a research note on Friday, July 31st. Wall Street Zen cut BrightSpring Health Services from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 23rd. Finally, Bank of America boosted their price objective on BrightSpring Health Services from $66.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Two investment analysts have rated the stock with a Strong Buy rating and eighteen have issued a Buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $70.71.

Insider Activity at BrightSpring Health Services

In related news, insider Lisa A. Nalley sold 35,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $58.75, for a total transaction of $2,056,250.00. Following the transaction, the insider owned 131,948 shares in the company, valued at $7,751,945. This trade represents a 20.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jon B. Rousseau sold 130,000 shares of the business’s stock in a transaction that occurred 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 approximately $70,177,051.25. The trade was a 9.82% 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 Stock Performance

BTSG stock opened at $60.25 on Thursday. The company has a market capitalization of $11.92 billion, a P/E ratio of 36.30, a PEG ratio of 0.69 and a beta of 1.85. The company has a 50-day simple moving average of $65.43 and a 200 day simple moving average of $55.34. BrightSpring Health Services, Inc. has a fifty-two week low of $23.53 and a fifty-two week high of $73.75. The company has a quick ratio of 1.22, a current ratio of 1.59 and a debt-to-equity ratio of 1.06.

BrightSpring Health Services (NASDAQ:BTSG) last released its earnings results on Friday, July 31st. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.40 by $0.05. BrightSpring Health Services had a net margin of 2.55% and a return on equity of 16.73%. The firm had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter last year, the company earned $0.22 EPS. BrightSpring Health Services’s quarterly revenue was up 23.0% on a year-over-year basis. Sell-side analysts predict that BrightSpring Health Services, Inc. will post 1.82 earnings per share for the current fiscal 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.