Alliancebernstein L.P. Decreases Stock Position in BrightSpring Health Services, Inc. $BTSG

Alliancebernstein L.P. lessened its holdings in BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 5.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,149,443 shares of the company’s stock after selling 300,642 shares during the quarter. Alliancebernstein L.P. owned 2.86% of BrightSpring Health Services worth $152,218,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. AQR Capital Management LLC purchased a new position in shares of BrightSpring Health Services in the 1st quarter valued at approximately $276,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in BrightSpring Health Services by 5.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,429 shares of the company’s stock worth $587,000 after purchasing an additional 1,780 shares during the last quarter. Millennium Management LLC increased its stake in BrightSpring Health Services by 0.3% during the 1st quarter. Millennium Management LLC now owns 577,885 shares of the company’s stock valued at $10,454,000 after purchasing an additional 1,967 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in BrightSpring Health Services by 11.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,280 shares of the company’s stock valued at $2,664,000 after purchasing an additional 14,586 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of BrightSpring Health Services by 38.9% in the second quarter. Envestnet Asset Management Inc. now owns 20,226 shares of the company’s stock worth $477,000 after buying an additional 5,663 shares during the last quarter.

BrightSpring Health Services Trading Up 1.9%

Shares of BrightSpring Health Services stock opened at $39.05 on Tuesday. The stock has a market cap of $7.56 billion, a PE ratio of 44.38, a price-to-earnings-growth ratio of 0.50 and a beta of 2.30. The firm has a fifty day moving average price of $39.76 and a 200 day moving average price of $34.73. BrightSpring Health Services, Inc. has a 1 year low of $15.48 and a 1 year high of $44.87. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.57 and a quick ratio of 1.12.

BrightSpring Health Services (NASDAQ:BTSG) last posted its quarterly earnings results on Friday, February 27th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.01). The business 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 period in the previous year, the company posted $0.11 earnings per share. Equities research 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 related news, insider Jon B. Rousseau sold 220,000 shares of BrightSpring Health Services stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total transaction of $9,053,000.00. Following the completion of the transaction, the insider directly owned 1,023,880 shares in the company, valued at approximately $42,132,662. This trade represents a 17.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 sale, the chief financial officer owned 196,840 shares in the company, valued at approximately $8,099,966. This represents a 15.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 285,000 shares of company stock worth $11,727,750 over the last quarter. 3.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. TD Cowen reiterated a “buy” rating on shares of BrightSpring Health Services in a research note on Monday, March 2nd. Cantor Fitzgerald set a $49.00 target price on BrightSpring Health Services in a research report on Monday, March 2nd. KeyCorp upgraded BrightSpring Health Services from a “sector weight” rating to an “overweight” rating and set a $45.00 target price for the company in a research note on Friday, December 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of BrightSpring Health Services in a research note on Monday, December 29th. Finally, CJS Securities raised BrightSpring Health Services to a “strong-buy” rating in a report on Thursday, December 11th. Two investment 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.com, BrightSpring Health Services has a consensus rating of “Buy” and an average target price of $44.08.

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.