SMART Wealth LLC Acquires New Stake in BrightSpring Health Services, Inc. $BTSG

SMART Wealth LLC acquired a new stake in BrightSpring Health Services, Inc. (NASDAQ:BTSG) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 8,121 shares of the company’s stock, valued at approximately $346,000.

Several other institutional investors also recently bought and sold shares of BTSG. Iron Triangle Partners LP increased its stake in shares of BrightSpring Health Services by 3.2% during the third quarter. Iron Triangle Partners LP now owns 1,238,520 shares of the company’s stock worth $36,611,000 after acquiring an additional 38,520 shares during the period. 8 Knots Management LLC purchased a new position in BrightSpring Health Services during the third quarter worth about $51,244,000. SG Americas Securities LLC lifted its position in BrightSpring Health Services by 1,221.9% in the fourth quarter. SG Americas Securities LLC now owns 183,103 shares of the company’s stock valued at $6,857,000 after purchasing an additional 169,251 shares during the period. Victory Capital Management Inc. lifted its position in BrightSpring Health Services by 551.3% in the third quarter. Victory Capital Management Inc. now owns 726,878 shares of the company’s stock valued at $21,487,000 after purchasing an additional 615,280 shares during the period. Finally, Brevan Howard Capital Management LP boosted its holdings in BrightSpring Health Services by 808.4% in the 3rd quarter. Brevan Howard Capital Management LP now owns 113,671 shares of the company’s stock valued at $3,360,000 after purchasing an additional 101,157 shares in the last quarter.

BrightSpring Health Services Price Performance

BrightSpring Health Services stock opened at $69.74 on Wednesday. The stock has a market capitalization of $13.76 billion, a P/E ratio of 49.46, a P/E/G 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 company has a debt-to-equity ratio of 1.24, a current ratio of 1.74 and a quick ratio of 1.38. The firm’s 50-day moving average is $58.40 and its two-hundred day moving average is $46.72.

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, beating analysts’ consensus estimates of $0.29 by $0.10. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates 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 revenue was up 25.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.14 earnings per share. Equities analysts predict that BrightSpring Health Services, Inc. will post 1.67 earnings per share for the current year.

Insider Activity at BrightSpring Health Services

In other 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 in the company, valued at $7,751,945. This trade represents a 20.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jon B. Rousseau sold 130,000 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 value of $7,637,500.00. Following the sale, the insider owned 1,194,503 shares in the company, valued at $70,177,051.25. This trade represents a 9.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on BTSG shares. Leerink Partners reiterated an “outperform” rating and set a $49.00 target price on shares of BrightSpring Health Services in a research report on Wednesday, March 18th. Weiss Ratings raised BrightSpring Health Services from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, May 4th. BMO Capital Markets set a $70.00 price target on BrightSpring Health Services in a research note on Thursday, May 21st. Stephens upped their price objective on BrightSpring Health Services from $53.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Finally, Mizuho increased their price objective on BrightSpring Health Services from $52.00 to $61.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Two investment analysts have rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the company’s stock. Based on data from MarketBeat, BrightSpring Health Services presently has a consensus rating of “Buy” and an average target price of $61.27.

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.