Castleark Management LLC Raises Position in BrightSpring Health Services, Inc. $BTSG

Castleark Management LLC lifted its stake in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 55.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 247,200 shares of the company’s stock after buying an additional 88,600 shares during the quarter. Castleark Management LLC owned 0.13% of BrightSpring Health Services worth $10,533,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Orbimed Advisors LLC boosted its holdings in BrightSpring Health Services by 1.9% in the 1st quarter. Orbimed Advisors LLC now owns 497,800 shares of the company’s stock worth $21,211,000 after acquiring an additional 9,300 shares during the period. Gabelli Funds LLC raised its stake in shares of BrightSpring Health Services by 42.0% during the first quarter. Gabelli Funds LLC now owns 11,150 shares of the company’s stock valued at $475,000 after purchasing an additional 3,300 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in shares of BrightSpring Health Services during the first quarter valued at approximately $213,000. Arrowstreet Capital Limited Partnership lifted its position in shares of BrightSpring Health Services by 109.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,370,440 shares of the company’s stock worth $58,394,000 after purchasing an additional 716,949 shares in the last quarter. Finally, Caxton Associates LLP purchased a new position in shares of BrightSpring Health Services in the first quarter valued at $344,000.

BrightSpring Health Services Stock Performance

BTSG stock opened at $72.91 on Monday. The stock’s 50 day simple moving average is $65.20 and its 200 day simple moving average is $50.89. BrightSpring Health Services, Inc. has a 12-month low of $19.01 and a 12-month high of $73.40. The firm has a market cap of $14.38 billion, a P/E ratio of 51.71, a P/E/G ratio of 0.92 and a beta of 1.79. 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 (NASDAQ:BTSG) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.39 earnings per share 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 prior year, the company posted $0.14 earnings per share. As a group, equities research analysts predict that BrightSpring Health Services, Inc. will post 1.7 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BTSG. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $60.00 price target on shares of BrightSpring Health Services in a research note on Monday, May 4th. BTIG Research lifted their target price on BrightSpring Health Services from $65.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. Raymond James Financial assumed coverage on BrightSpring Health Services in a research note on Thursday, July 9th. They issued an “outperform” rating and a $80.00 price target on the stock. Stephens increased their price target on BrightSpring Health Services from $53.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Finally, Zacks Research lowered BrightSpring Health Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $70.12.

Insider Transactions 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 dated Friday, June 5th. The shares were sold at an average price of $58.75, for a total transaction of $2,056,250.00. Following the sale, the insider directly owned 131,948 shares in the company, valued at approximately $7,751,945. The trade was a 20.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jon B. Rousseau sold 130,000 shares of the company’s stock in a transaction that occurred 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 sale, the insider directly owned 1,194,503 shares of the company’s stock, valued at approximately $70,177,051.25. This represents a 9.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.80% of the stock is currently owned by insiders.

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.