OP Asset Management Ltd Makes New Investment in BrightSpring Health Services, Inc. $BTSG

OP Asset Management Ltd acquired a new stake in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 17,676 shares of the company’s stock, valued at approximately $753,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in BrightSpring Health Services by 30.5% during the 4th 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 last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of BrightSpring Health Services by 4.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,662,236 shares of the company’s stock worth $399,302,000 after buying an additional 478,436 shares in the last quarter. Invesco Ltd. raised its stake in shares of BrightSpring Health Services by 13.4% in the fourth quarter. Invesco Ltd. now owns 10,595,232 shares of the company’s stock valued at $396,791,000 after acquiring an additional 1,248,107 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of BrightSpring Health Services by 21.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,123,865 shares of the company’s stock valued at $229,339,000 after acquiring an additional 1,091,757 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in shares of BrightSpring Health Services by 12.1% in the 2nd quarter. Alliancebernstein L.P. now owns 5,450,085 shares of the company’s stock worth $128,568,000 after acquiring an additional 588,642 shares in the last quarter.

Insiders Place Their Bets

In related news, insider Lisa A. Nalley sold 35,000 shares of the firm’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 $2,056,250.00. Following the sale, the insider owned 131,948 shares of the company’s stock, valued at approximately $7,751,945. This trade represents a 20.96% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jon B. Rousseau sold 130,000 shares of BrightSpring Health Services 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 transaction, the insider owned 1,194,503 shares in the company, valued at approximately $70,177,051.25. This represents a 9.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.80% of the company’s stock.

BrightSpring Health Services Price Performance

BrightSpring Health Services stock opened at $69.74 on Wednesday. The company has a current ratio of 1.74, a quick ratio of 1.38 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $13.76 billion, a P/E ratio of 49.46, a PEG ratio of 0.89 and a beta of 1.87. The business has a 50-day moving average of $58.40 and a 200-day moving average of $46.72. BrightSpring Health Services, Inc. has a 1 year low of $19.01 and a 1 year high of $70.72.

BrightSpring Health Services (NASDAQ:BTSG) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.10. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The business had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same period last year, the company posted $0.14 EPS. BrightSpring Health Services’s revenue for the quarter was up 25.6% on a year-over-year basis. On average, equities analysts anticipate that BrightSpring Health Services, Inc. will post 1.67 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on BTSG shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $60.00 price target on shares of BrightSpring Health Services in a research report on Monday, May 4th. BMO Capital Markets set a $70.00 target price on BrightSpring Health Services in a report on Thursday, May 21st. The Goldman Sachs Group started coverage on BrightSpring Health Services in a research note on Monday, June 8th. They issued a “buy” rating and a $71.00 target price for the company. UBS Group lifted their price target on BrightSpring Health Services from $53.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, March 18th. Finally, TD Cowen raised their price objective on shares of BrightSpring Health Services from $65.00 to $81.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Two research analysts have rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $61.27.

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.