Boothbay Fund Management LLC Makes New Investment in BrightSpring Health Services, Inc. $BTSG

Boothbay Fund Management LLC purchased a new stake in BrightSpring Health Services, Inc. (NASDAQ:BTSG) in the 3rd quarter, according to its most recent filing with the SEC. The fund purchased 277,846 shares of the company’s stock, valued at approximately $8,213,000. Boothbay Fund Management LLC owned about 0.15% of BrightSpring Health Services as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in BTSG. Invesco Ltd. grew its position in shares of BrightSpring Health Services by 47.7% in the second quarter. Invesco Ltd. now owns 9,119,408 shares of the company’s stock valued at $215,127,000 after purchasing an additional 2,946,811 shares during the period. The Manufacturers Life Insurance Company lifted its position in BrightSpring Health Services by 936.4% during the second quarter. The Manufacturers Life Insurance Company now owns 2,276,583 shares of the company’s stock worth $53,705,000 after buying an additional 2,056,920 shares during the period. Jane Street Group LLC boosted its stake in BrightSpring Health Services by 855.4% in the 2nd quarter. Jane Street Group LLC now owns 2,076,730 shares of the company’s stock worth $48,990,000 after buying an additional 1,859,369 shares during the last quarter. 8 Knots Management LLC acquired a new stake in BrightSpring Health Services in the 3rd quarter worth about $51,244,000. Finally, Dimensional Fund Advisors LP grew its holdings in BrightSpring Health Services by 123.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,096,949 shares of the company’s stock valued at $61,966,000 after buying an additional 1,160,500 shares during the period.

Wall Street Analysts Forecast Growth

BTSG has been the subject of a number of research analyst reports. Mizuho upped their price objective on shares of BrightSpring Health Services from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Tuesday, March 3rd. CJS Securities raised shares of BrightSpring Health Services to a “strong-buy” rating in a research report on Thursday, December 11th. Bank of America boosted their target price on shares of BrightSpring Health Services from $38.00 to $41.00 and gave the company a “buy” rating in a report on Tuesday, December 9th. Cantor Fitzgerald set a $49.00 price target on shares of BrightSpring Health Services in a research report on Monday, March 2nd. Finally, BTIG Research reaffirmed a “buy” rating and set a $55.00 price target on shares of BrightSpring Health Services in a research note on Monday, March 2nd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $44.08.

BrightSpring Health Services Stock Performance

NASDAQ:BTSG opened at $38.31 on Monday. The firm’s fifty day simple moving average is $39.76 and its 200 day simple moving average is $34.63. The company has a current ratio of 1.57, a quick ratio of 1.12 and a debt-to-equity ratio of 1.32. BrightSpring Health Services, Inc. has a twelve month low of $15.48 and a twelve month high of $44.87. The firm has a market capitalization of $7.41 billion, a price-to-earnings ratio of 43.53, a PEG ratio of 0.50 and a beta of 2.30.

BrightSpring Health Services (NASDAQ:BTSG) last released its quarterly earnings data on Friday, February 27th. The company reported $0.33 EPS 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%. The company’s revenue for the quarter was up 29.3% compared to the same quarter last year. During the same period last year, the business earned $0.11 earnings per share. As a group, equities research analysts expect that BrightSpring Health Services, Inc. will post 0.59 earnings per share for the current fiscal year.

Insider Activity

In other BrightSpring Health Services news, CFO Jennifer A. Phipps sold 35,000 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 $1,440,250.00. Following the completion of the transaction, the chief financial officer owned 196,840 shares in the company, valued at $8,099,966. This represents a 15.10% decrease in their position. 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 220,000 shares of the stock in a transaction that occurred 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 sale, 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. Over the last quarter, insiders sold 285,000 shares of company stock worth $11,727,750. 3.40% of the stock is currently owned by corporate insiders.

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.