Geode Capital Management LLC Buys 386,186 Shares of BrightSpring Health Services, Inc. $BTSG

Geode Capital Management LLC boosted its stake in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 16.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,746,011 shares of the company’s stock after buying an additional 386,186 shares during the quarter. Geode Capital Management LLC’s holdings in BrightSpring Health Services were worth $102,855,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Westover Capital Advisors LLC bought a new stake in BrightSpring Health Services during the 4th quarter valued at about $697,000. Legal & General Group Plc increased its position in BrightSpring Health Services by 160.9% during the 4th quarter. Legal & General Group Plc now owns 267,919 shares of the company’s stock valued at $10,034,000 after purchasing an additional 165,221 shares during the period. New Age Alpha Advisors LLC purchased a new position in BrightSpring Health Services during the 4th quarter valued at about $202,000. Catalyst Funds Management Pty Ltd purchased a new position in BrightSpring Health Services during the 4th quarter valued at about $1,378,000. Finally, Lisanti Capital Growth LLC increased its position in BrightSpring Health Services by 129.7% during the 4th quarter. Lisanti Capital Growth LLC now owns 152,195 shares of the company’s stock valued at $5,700,000 after purchasing an additional 85,925 shares during the period.

BrightSpring Health Services Stock Performance

Shares of BTSG opened at $57.40 on Friday. 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 12-month low of $19.01 and a 12-month high of $62.11. The firm has a 50-day moving average price of $51.25 and a 200 day moving average price of $42.99. The firm has a market capitalization of $11.32 billion, a P/E ratio of 40.71, a P/E/G ratio of 0.74 and a beta of 1.87.

BrightSpring Health Services (NASDAQ:BTSG) last announced its quarterly earnings data 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. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same quarter in the prior year, the firm posted $0.14 earnings per share. BrightSpring Health Services’s quarterly revenue was up 25.6% on a year-over-year basis. Sell-side analysts forecast that BrightSpring Health Services, Inc. will post 1.67 EPS for the current year.

Wall Street Analyst Weigh In

BTSG has been the topic of a number of research reports. TD Cowen raised their target price on shares of BrightSpring Health Services from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Leerink Partners reaffirmed an “outperform” rating and issued a $49.00 price objective on shares of BrightSpring Health Services in a research report on Wednesday, March 18th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $60.00 target price on shares of BrightSpring Health Services in a research report on Monday, May 4th. BMO Capital Markets set a $70.00 target price on shares of BrightSpring Health Services in a research report on Thursday, May 21st. Finally, Cantor Fitzgerald set a $49.00 price objective 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 fifteen have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $57.64.

Insider Transactions at BrightSpring Health Services

In related news, insider Lisa A. Nalley sold 35,000 shares of the company’s stock in a transaction dated 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 sale, the insider owned 131,948 shares of the company’s stock, valued at approximately $7,751,945. This represents a 20.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jon B. Rousseau sold 130,000 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $58.75, for a total transaction of $7,637,500.00. Following the completion of the sale, the insider directly owned 1,194,503 shares of the company’s stock, valued at $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. Corporate insiders own 2.80% of the company’s stock.

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.