BrightSpring Health Services, Inc. $BTSG Position Decreased by Braidwell LP

Braidwell LP lowered its holdings in BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 41.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 596,753 shares of the company’s stock after selling 419,809 shares during the period. BrightSpring Health Services comprises 1.5% of Braidwell LP’s holdings, making the stock its 23rd biggest holding. Braidwell LP’s holdings in BrightSpring Health Services were worth $41,618,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. AQR Capital Management LLC acquired a new stake in BrightSpring Health Services during the first quarter valued at approximately $276,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in BrightSpring Health Services by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,429 shares of the company’s stock worth $587,000 after buying an additional 1,780 shares during the last quarter. Millennium Management LLC grew its position in BrightSpring Health Services by 0.3% in the first quarter. Millennium Management LLC now owns 577,885 shares of the company’s stock worth $10,454,000 after buying an additional 1,967 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of BrightSpring Health Services by 11.0% in the first 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 buying an additional 14,586 shares in the last quarter. Finally, Prudential Financial Inc. bought a new position in shares of BrightSpring Health Services in the second quarter valued at $351,000.

BrightSpring Health Services Trading Up 1.8%

BrightSpring Health Services stock opened at $60.25 on Thursday. BrightSpring Health Services, Inc. has a 52 week low of $23.53 and a 52 week high of $73.75. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.22 and a current ratio of 1.59. The firm has a market capitalization of $11.92 billion, a price-to-earnings ratio of 36.30, a P/E/G ratio of 0.69 and a beta of 1.85. The company has a 50 day moving average price of $65.43 and a 200 day moving average price of $55.34.

BrightSpring Health Services (NASDAQ:BTSG) last announced its earnings results on Friday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.05. The company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.66 billion. BrightSpring Health Services had a net margin of 2.55% and a return on equity of 16.73%. The company’s revenue was up 23.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.22 EPS. Research analysts forecast that BrightSpring Health Services, Inc. will post 1.82 EPS for the current year.

Wall Street Analysts Forecast Growth

BTSG has been the subject of several research reports. Bank of America raised their price objective on BrightSpring Health Services from $66.00 to $77.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. BMO Capital Markets set a $70.00 target price on BrightSpring Health Services in a research report on Thursday, May 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $70.00 target price on shares of BrightSpring Health Services in a report on Monday, August 3rd. KeyCorp reiterated an “overweight” rating on shares of BrightSpring Health Services in a research report on Monday, August 3rd. Finally, TD Cowen boosted their price objective on BrightSpring Health Services from $65.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Two research analysts have rated the stock with a Strong Buy rating and eighteen have assigned a Buy rating to the company. Based on data from MarketBeat, BrightSpring Health Services has a consensus rating of “Buy” and an average price target of $70.71.

Insiders Place Their Bets

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 value of $2,056,250.00. Following the completion of the sale, the insider directly owned 131,948 shares of the company’s stock, valued at approximately $7,751,945. This represents a 20.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jon B. Rousseau sold 130,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $58.75, for a total value of $7,637,500.00. Following the sale, the insider 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.80% of the company’s stock.

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.