Catalyst Funds Management Pty Ltd Buys Shares of 36,800 BrightSpring Health Services, Inc. $BTSG

Catalyst Funds Management Pty Ltd purchased a new stake in BrightSpring Health Services, Inc. (NASDAQ:BTSG) during the fourth quarter, Holdings Channel.com reports. The firm purchased 36,800 shares of the company’s stock, valued at approximately $1,378,000.

A number of other hedge funds have also recently made changes to their positions in the stock. NBC Securities Inc. purchased a new position in BrightSpring Health Services in the fourth quarter valued at about $29,000. Salomon & Ludwin LLC purchased a new stake in shares of BrightSpring Health Services during the fourth quarter valued at about $30,000. Farther Finance Advisors LLC lifted its position in shares of BrightSpring Health Services by 112.8% during the fourth quarter. Farther Finance Advisors LLC now owns 1,717 shares of the company’s stock valued at $64,000 after buying an additional 910 shares during the last quarter. EverSource Wealth Advisors LLC bought a new stake in shares of BrightSpring Health Services in the 2nd quarter valued at about $43,000. Finally, CWM LLC grew its position in shares of BrightSpring Health Services by 17.5% in the 4th quarter. CWM LLC now owns 1,874 shares of the company’s stock worth $70,000 after buying an additional 279 shares during the last quarter.

BrightSpring Health Services Stock Up 0.9%

BTSG stock opened at $58.50 on Friday. The stock has a market capitalization of $11.34 billion, a PE ratio of 41.49, a price-to-earnings-growth ratio of 0.77 and a beta of 1.71. BrightSpring Health Services, Inc. has a 52 week low of $19.01 and a 52 week high of $59.65. The company has a quick ratio of 1.38, a current ratio of 1.74 and a debt-to-equity ratio of 1.24. The firm has a 50 day moving average of $47.64 and a 200 day moving average of $41.12.

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, beating analysts’ consensus estimates of $0.29 by $0.10. The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.39 billion. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. BrightSpring Health Services’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.14 EPS. Sell-side analysts forecast that BrightSpring Health Services, Inc. will post 1.64 earnings per share for the current year.

Insider Activity

In related news, insider Jon B. Rousseau sold 220,000 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total value of $9,053,000.00. Following the transaction, the insider directly owned 1,023,880 shares of the company’s stock, valued at $42,132,662. This represents a 17.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jennifer A. Phipps sold 35,000 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer owned 196,840 shares of the company’s stock, valued at $8,099,966. This trade 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 valued at $11,727,750 over the last ninety days. 2.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

BTSG has been the subject of several recent analyst reports. Leerink Partners reiterated an “outperform” rating and set a $49.00 price objective on shares of BrightSpring Health Services in a research note on Wednesday, March 18th. Weiss Ratings raised shares of BrightSpring Health Services from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, May 4th. Mizuho upped their price target on BrightSpring Health Services from $52.00 to $61.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Morgan Stanley increased their price objective on BrightSpring Health Services from $48.00 to $62.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Finally, Zacks Research raised BrightSpring Health Services from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 3rd. Two analysts have rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $57.00.

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.