Rhumbline Advisers Raises Stock Position in BrightSpring Health Services, Inc. (NASDAQ:BTSG)

Rhumbline Advisers raised its stake in BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 4.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 77,100 shares of the company’s stock after buying an additional 3,517 shares during the quarter. Rhumbline Advisers’ holdings in BrightSpring Health Services were worth $1,395,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. FMR LLC raised its position in shares of BrightSpring Health Services by 21.6% during the 4th quarter. FMR LLC now owns 22,102,490 shares of the company’s stock worth $376,405,000 after purchasing an additional 3,933,303 shares during the last quarter. Vanguard Group Inc. raised its position in shares of BrightSpring Health Services by 5.3% during the 4th quarter. Vanguard Group Inc. now owns 5,325,093 shares of the company’s stock worth $90,686,000 after purchasing an additional 268,132 shares during the last quarter. Invesco Ltd. raised its position in shares of BrightSpring Health Services by 1.0% during the 4th quarter. Invesco Ltd. now owns 4,378,562 shares of the company’s stock worth $74,567,000 after purchasing an additional 41,991 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of BrightSpring Health Services by 13.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,698,629 shares of the company’s stock worth $45,959,000 after purchasing an additional 328,977 shares during the last quarter. Finally, Sea Cliff Partners Management LP raised its position in shares of BrightSpring Health Services by 49.1% during the 4th quarter. Sea Cliff Partners Management LP now owns 1,735,150 shares of the company’s stock worth $29,550,000 after purchasing an additional 571,437 shares during the last quarter.

Insider Activity at BrightSpring Health Services

In other BrightSpring Health Services news, major shareholder Phoenix Aggregator L.P. Kkr sold 13,288,101 shares of the business’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $21.15, for a total value of $281,043,336.15. Following the transaction, the insider now owns 79,671,883 shares in the company, valued at $1,685,060,325.45. The trade was a 14.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jon B. Rousseau sold 531,840 shares of the business’s stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $21.75, for a total transaction of $11,567,520.00. Following the completion of the transaction, the insider now owns 1,184,133 shares in the company, valued at $25,754,892.75. This represents a 30.99% decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

BrightSpring Health Services Stock Performance

NASDAQ:BTSG opened at $22.38 on Thursday. The company has a current ratio of 1.73, a quick ratio of 1.37 and a debt-to-equity ratio of 1.48. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of 79.93 and a beta of 2.58. The firm’s fifty day simple moving average is $20.99 and its 200 day simple moving average is $19.69. BrightSpring Health Services, Inc. has a twelve month low of $10.15 and a twelve month high of $25.57.

BrightSpring Health Services (NASDAQ:BTSG) last posted its earnings results on Friday, May 2nd. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.10. The business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.74 billion. BrightSpring Health Services had a net margin of 0.49% and a return on equity of 7.76%. The business’s quarterly revenue was up 25.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.12 EPS. As a group, equities research analysts expect that BrightSpring Health Services, Inc. will post 0.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on BTSG. Morgan Stanley lifted their target price on shares of BrightSpring Health Services from $20.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Wells Fargo & Company lifted their target price on shares of BrightSpring Health Services from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 13th. Finally, Mizuho set a $26.00 target price on shares of BrightSpring Health Services in a research note on Monday, May 5th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.56.

About BrightSpring Health Services

BrightSpring Health Services, Inc operates a home and community-based healthcare services platform in the United States. The company's platform focuses on delivering pharmacy and provider services, including clinical and supportive care in home and community settings to Medicare, Medicaid, and insured populations.