BrightSpring Health Services, Inc. $BTSG Shares Acquired by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lifted its stake in BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 109.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,370,440 shares of the company’s stock after purchasing an additional 716,949 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.71% of BrightSpring Health Services worth $58,394,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in BTSG. Vanguard Group Inc. increased its stake in shares of BrightSpring Health Services by 30.5% in the 4th quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company’s stock worth $469,385,000 after acquiring an additional 2,928,953 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of BrightSpring Health Services by 936.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,276,583 shares of the company’s stock valued at $53,705,000 after acquiring an additional 2,056,920 shares during the last quarter. State Street Corp grew its holdings in shares of BrightSpring Health Services by 99.5% in the fourth quarter. State Street Corp now owns 4,033,149 shares of the company’s stock valued at $151,041,000 after purchasing an additional 2,011,095 shares during the period. Jane Street Group LLC grew its holdings in shares of BrightSpring Health Services by 855.4% in the second quarter. Jane Street Group LLC now owns 2,076,730 shares of the company’s stock valued at $48,990,000 after purchasing an additional 1,859,369 shares during the period. Finally, Invesco Ltd. increased its position in BrightSpring Health Services by 13.4% during the fourth quarter. Invesco Ltd. now owns 10,595,232 shares of the company’s stock worth $396,791,000 after purchasing an additional 1,248,107 shares during the last quarter.

BrightSpring Health Services Stock Down 1.3%

Shares of NASDAQ BTSG opened at $71.98 on Tuesday. The stock has a market cap of $14.20 billion, a P/E ratio of 51.05, a PEG ratio of 0.92 and a beta of 1.79. The business’s fifty day simple moving average is $65.52 and its 200-day simple moving average is $51.11. BrightSpring Health Services, Inc. has a 12-month low of $19.01 and a 12-month high of $73.75. The company has a current ratio of 1.74, a quick ratio of 1.38 and a debt-to-equity ratio of 1.24.

BrightSpring Health Services (NASDAQ:BTSG) last issued its quarterly earnings results on Friday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.10. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.39 billion. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The firm’s quarterly revenue was up 25.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.14 earnings per share. As a group, equities analysts predict that BrightSpring Health Services, Inc. will post 1.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. KeyCorp lifted their price target on shares of BrightSpring Health Services from $60.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Guggenheim began coverage on BrightSpring Health Services in a research note on Monday, July 13th. They set a “buy” rating and a $81.00 target price for the company. BTIG Research upped their price target on BrightSpring Health Services from $65.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, June 22nd. Wall Street Zen cut BrightSpring Health Services from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 4th. Finally, Bank of America boosted their price objective on shares of BrightSpring Health Services from $66.00 to $77.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, BrightSpring Health Services presently has an average rating of “Buy” and a consensus price target of $70.12.

Insiders Place Their Bets

In other news, insider Jon B. Rousseau sold 130,000 shares of BrightSpring Health Services stock in a transaction on Friday, June 5th. The shares were sold at an average price of $58.75, for a total value of $7,637,500.00. Following 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Lisa A. Nalley sold 35,000 shares of BrightSpring Health Services stock in a transaction 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 completion of the transaction, the insider owned 131,948 shares in the company, valued at approximately $7,751,945. This represents a 20.96% decrease in their ownership of the stock. 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 Company 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.