1,733,548 Shares in BrightSpring Health Services, Inc. $BTSG Acquired by 8 Knots Management LLC

8 Knots Management LLC acquired a new position in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,733,548 shares of the company’s stock, valued at approximately $51,244,000. BrightSpring Health Services comprises approximately 5.8% of 8 Knots Management LLC’s holdings, making the stock its 8th largest position. 8 Knots Management LLC owned approximately 0.96% of BrightSpring Health Services as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Algert Global LLC raised its holdings in shares of BrightSpring Health Services by 108.2% in the 3rd quarter. Algert Global LLC now owns 51,270 shares of the company’s stock worth $1,516,000 after acquiring an additional 26,640 shares during the last quarter. Ameriprise Financial Inc. bought a new position in BrightSpring Health Services in the 3rd quarter valued at about $2,466,000. Virtu Financial LLC acquired a new position in BrightSpring Health Services during the 3rd quarter valued at about $677,000. Man Group plc bought a new stake in BrightSpring Health Services during the 3rd quarter worth approximately $11,151,000. Finally, California State Teachers Retirement System increased its holdings in BrightSpring Health Services by 14.8% during the 3rd quarter. California State Teachers Retirement System now owns 91,028 shares of the company’s stock worth $2,691,000 after purchasing an additional 11,755 shares in the last quarter.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Stephens started coverage on BrightSpring Health Services in a research note on Wednesday, December 10th. They set an “overweight” rating and a $44.00 price objective on the stock. Cantor Fitzgerald set a $49.00 target price on shares of BrightSpring Health Services in a research note on Monday, March 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of BrightSpring Health Services in a report on Monday, December 29th. Wells Fargo & Company boosted their price target on shares of BrightSpring Health Services from $43.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Finally, TD Cowen reaffirmed a “buy” rating on shares of BrightSpring Health Services in a research report on Monday, March 2nd. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $44.08.

BrightSpring Health Services Stock Performance

NASDAQ BTSG opened at $38.31 on Friday. The firm has a market cap of $7.41 billion, a P/E ratio of 43.53, a price-to-earnings-growth ratio of 0.50 and a beta of 2.31. The company has a quick ratio of 1.12, a current ratio of 1.57 and a debt-to-equity ratio of 1.32. The company’s 50 day moving average is $39.76 and its 200-day moving average is $34.55. BrightSpring Health Services, Inc. has a 12-month low of $15.48 and a 12-month high of $44.87.

BrightSpring Health Services (NASDAQ:BTSG) last announced its quarterly earnings results 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 analysts’ expectations of $3.38 billion. BrightSpring Health Services had a net margin of 1.48% and a return on equity of 12.66%. BrightSpring Health Services’s revenue for the quarter was up 29.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.11 earnings per share. Sell-side analysts predict that BrightSpring Health Services, Inc. will post 0.59 earnings per share for the current year.

Insider Transactions at BrightSpring Health Services

In other BrightSpring Health Services news, CFO Jennifer A. Phipps sold 35,000 shares of BrightSpring Health Services stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total transaction of $1,440,250.00. Following the completion of the sale, the chief financial officer owned 196,840 shares of the company’s stock, valued at $8,099,966. The trade was a 15.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jon B. Rousseau sold 220,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total value of $9,053,000.00. Following the completion of the sale, the insider directly owned 1,023,880 shares of the company’s stock, valued at approximately $42,132,662. This represents a 17.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 285,000 shares of company stock valued at $11,727,750. Insiders own 3.40% of the company’s stock.

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.