BrightSpring Health Services, Inc. $BTSG Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC cut its holdings in BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 61.3% in the first quarter, HoldingsChannel reports. The institutional investor owned 22,391 shares of the company’s stock after selling 35,472 shares during the quarter. Sterling Capital Management LLC’s holdings in BrightSpring Health Services were worth $954,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of BrightSpring Health Services by 30.5% during the fourth quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company’s stock valued at $469,385,000 after acquiring an additional 2,928,953 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in BrightSpring Health Services by 4.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,662,236 shares of the company’s stock worth $399,302,000 after purchasing an additional 478,436 shares during the last quarter. Invesco Ltd. grew its position in BrightSpring Health Services by 13.4% during the 4th quarter. Invesco Ltd. now owns 10,595,232 shares of the company’s stock worth $396,791,000 after purchasing an additional 1,248,107 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in BrightSpring Health Services by 21.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,123,865 shares of the company’s stock valued at $229,339,000 after purchasing an additional 1,091,757 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of BrightSpring Health Services by 12.1% in the second quarter. Alliancebernstein L.P. now owns 5,450,085 shares of the company’s stock worth $128,568,000 after buying an additional 588,642 shares during the last quarter.

Analyst Ratings Changes

BTSG has been the subject of several research reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $60.00 price objective on shares of BrightSpring Health Services in a research note on Monday, May 4th. Weiss Ratings upgraded BrightSpring Health Services from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, May 4th. Zacks Research raised BrightSpring Health Services from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 3rd. Wells Fargo & Company boosted their price target on BrightSpring Health Services from $50.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Finally, Morgan Stanley increased their price objective on BrightSpring Health Services from $62.00 to $71.00 and gave the company an “overweight” rating in a report on Tuesday, June 2nd. Two research analysts have rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the company’s stock. According to MarketBeat.com, BrightSpring Health Services has a consensus rating of “Buy” and a consensus target price of $61.27.

Insider Transactions at BrightSpring Health Services

In related news, insider Lisa A. Nalley sold 35,000 shares of the firm’s stock in a transaction dated 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 directly owned 131,948 shares of the company’s stock, valued at $7,751,945. This trade represents a 20.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jon B. Rousseau sold 130,000 shares of the firm’s 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 sale, the insider directly owned 1,194,503 shares in the company, valued at approximately $70,177,051.25. This trade represents a 9.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 2.80% of the company’s stock.

BrightSpring Health Services Stock Up 1.1%

BTSG stock opened at $69.74 on Wednesday. The company has a market capitalization of $13.76 billion, a P/E ratio of 49.46, a price-to-earnings-growth ratio of 0.89 and a beta of 1.87. BrightSpring Health Services, Inc. has a 12 month low of $19.01 and a 12 month high of $70.72. The firm’s fifty day simple moving average is $58.40 and its 200-day simple moving average is $46.72. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.74 and a quick ratio of 1.38.

BrightSpring Health Services (NASDAQ:BTSG) last posted its 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. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same period in the previous year, the firm posted $0.14 earnings per share. The firm’s quarterly revenue was up 25.6% on a year-over-year basis. As a group, equities research analysts forecast that BrightSpring Health Services, Inc. will post 1.67 earnings per share for the current year.

BrightSpring Health Services 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.