Orbimed Advisors LLC Has $21.21 Million Stake in BrightSpring Health Services, Inc. $BTSG

Orbimed Advisors LLC increased its stake in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 1.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 497,800 shares of the company’s stock after purchasing an additional 9,300 shares during the quarter. Orbimed Advisors LLC owned about 0.26% of BrightSpring Health Services worth $21,211,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its position in 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 purchasing an additional 2,928,953 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in BrightSpring Health Services by 4.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,662,236 shares of the company’s stock valued at $399,302,000 after buying an additional 478,436 shares during the last quarter. Invesco Ltd. raised its position in shares of 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 acquiring an additional 1,248,107 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of BrightSpring Health Services by 21.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,123,865 shares of the company’s stock worth $229,339,000 after acquiring an additional 1,091,757 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its stake in shares of BrightSpring Health Services by 12.1% during the second quarter. Alliancebernstein L.P. now owns 5,450,085 shares of the company’s stock valued at $128,568,000 after acquiring an additional 588,642 shares during the period.

BrightSpring Health Services Price Performance

Shares of NASDAQ BTSG opened at $72.91 on Monday. The firm has a market cap of $14.38 billion, a PE ratio of 51.71, a PEG ratio of 0.92 and a beta of 1.79. 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, Inc. has a 1-year low of $19.01 and a 1-year high of $73.40. The company has a fifty day moving average price of $65.20 and a 200 day moving average price of $50.89.

BrightSpring Health Services (NASDAQ:BTSG) last released its 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. BrightSpring Health Services had a return on equity of 14.63% and a net margin of 2.27%.The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter in the prior year, the company earned $0.14 EPS. The company’s revenue was up 25.6% on a year-over-year basis. Research analysts predict that BrightSpring Health Services, Inc. will post 1.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on BTSG shares. BTIG Research raised their price target on BrightSpring Health Services from $65.00 to $90.00 and gave the company a “buy” rating in a report 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. Raymond James Financial began coverage on shares of BrightSpring Health Services in a research report on Thursday, July 9th. They set an “outperform” rating and a $80.00 target price on the stock. Guggenheim assumed coverage on shares of BrightSpring Health Services in a research note on Monday, July 13th. They issued a “buy” rating and a $81.00 target price on the stock. Finally, BMO Capital Markets set a $70.00 price target on shares of BrightSpring Health Services in a research report on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, BrightSpring Health Services currently has an average rating of “Buy” and a consensus target price of $70.12.

Insider Transactions at BrightSpring Health Services

In related news, insider Lisa A. Nalley sold 35,000 shares of the stock in a transaction dated Friday, June 5th. The stock was 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 directly owned 131,948 shares in the company, valued at approximately $7,751,945. This trade represents a 20.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jon B. Rousseau sold 130,000 shares of BrightSpring Health Services stock in a transaction that occurred 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 completion of the sale, the insider directly owned 1,194,503 shares in the company, valued at approximately $70,177,051.25. This represents a 9.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.80% of the stock is currently owned by company insiders.

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.