Healthcare of Ontario Pension Plan Trust Fund Increases Position in BrightSpring Health Services, Inc. $BTSG

Healthcare of Ontario Pension Plan Trust Fund raised its position in BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 12.7% during the fourth quarter, Holdings Channel reports. The firm owned 2,478,525 shares of the company’s stock after buying an additional 278,525 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in BrightSpring Health Services were worth $92,821,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BTSG. Vanguard Group Inc. raised its position in BrightSpring Health Services by 30.5% in the fourth quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company’s stock valued at $469,385,000 after purchasing an additional 2,928,953 shares during the period. The Manufacturers Life Insurance Company raised its position in BrightSpring Health Services by 936.4% in the second quarter. The Manufacturers Life Insurance Company now owns 2,276,583 shares of the company’s stock valued at $53,705,000 after purchasing an additional 2,056,920 shares during the period. State Street Corp raised its position in 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 raised its position in 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, 8 Knots Management LLC purchased a new stake in BrightSpring Health Services in the third quarter valued at approximately $51,244,000.

BrightSpring Health Services Stock Performance

NASDAQ:BTSG opened at $63.23 on Friday. The company has a fifty day simple moving average of $53.17 and a two-hundred day simple moving average of $44.00. The company has a market cap of $12.47 billion, a price-to-earnings ratio of 44.84, a price-to-earnings-growth ratio of 0.82 and a beta of 1.87. The company has a quick ratio of 1.38, a current ratio of 1.74 and a debt-to-equity ratio of 1.24. BrightSpring Health Services, Inc. has a 52 week low of $19.01 and a 52 week high of $64.18.

BrightSpring Health Services (NASDAQ:BTSG) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.29 by $0.10. The business 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 company’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.14 earnings per share. As a group, equities analysts anticipate that BrightSpring Health Services, Inc. will post 1.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

BTSG has been the topic of a number of research analyst reports. Wall Street Zen lowered BrightSpring Health Services from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 23rd. UBS Group boosted their target price on BrightSpring Health Services from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, March 18th. Stephens boosted their price target on shares of BrightSpring Health Services from $53.00 to $64.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Wells Fargo & Company boosted their price target on shares of BrightSpring Health Services from $50.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Finally, Cantor Fitzgerald set a $49.00 price target on shares of BrightSpring Health Services in a research note on Monday, March 2nd. Two analysts have rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the stock. According to MarketBeat.com, BrightSpring Health Services presently has a consensus rating of “Buy” and an average price target of $58.53.

Insider Buying and Selling at BrightSpring Health Services

In other BrightSpring Health Services news, insider Lisa A. Nalley sold 35,000 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $58.75, for a total value of $2,056,250.00. Following the completion of the transaction, the insider owned 131,948 shares in the company, valued at $7,751,945. The trade was a 20.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jon B. Rousseau sold 130,000 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $58.75, for a total transaction of $7,637,500.00. Following the completion of the transaction, the insider owned 1,194,503 shares of the company’s stock, valued at approximately $70,177,051.25. This trade represents a 9.82% decrease in their position. 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.