Brevan Howard Capital Management LP Buys 101,157 Shares of BrightSpring Health Services, Inc. $BTSG

Brevan Howard Capital Management LP raised its stake in BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 808.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 113,671 shares of the company’s stock after acquiring an additional 101,157 shares during the quarter. Brevan Howard Capital Management LP’s holdings in BrightSpring Health Services were worth $3,360,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. EverSource Wealth Advisors LLC acquired a new position in shares of BrightSpring Health Services during the second quarter worth approximately $43,000. CWM LLC grew its stake in shares of BrightSpring Health Services by 105.3% during the third quarter. CWM LLC now owns 1,595 shares of the company’s stock valued at $47,000 after purchasing an additional 818 shares during the last quarter. Amalgamated Bank increased its holdings in shares of BrightSpring Health Services by 62.7% in the third quarter. Amalgamated Bank now owns 3,041 shares of the company’s stock valued at $90,000 after purchasing an additional 1,172 shares in the last quarter. Sandia Investment Management LP acquired a new stake in shares of BrightSpring Health Services in the second quarter valued at approximately $118,000. Finally, PNC Financial Services Group Inc. raised its position in BrightSpring Health Services by 1,532.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,161 shares of the company’s stock worth $193,000 after purchasing an additional 7,661 shares during the last quarter.

BrightSpring Health Services Price Performance

Shares of BTSG stock opened at $39.05 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.57 and a debt-to-equity ratio of 1.32. BrightSpring Health Services, Inc. has a 12-month low of $15.48 and a 12-month high of $44.87. The firm has a fifty day moving average of $39.76 and a 200-day moving average of $34.73. The firm has a market capitalization of $7.56 billion, a price-to-earnings ratio of 44.38, a price-to-earnings-growth ratio of 0.50 and a beta of 2.30.

BrightSpring Health Services (NASDAQ:BTSG) last announced its earnings results on Friday, February 27th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.01). BrightSpring Health Services had a return on equity of 12.66% and a net margin of 1.48%.The company had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same quarter last year, the business posted $0.11 earnings per share. The business’s quarterly revenue was up 29.3% on a year-over-year basis. On average, equities research analysts forecast that BrightSpring Health Services, Inc. will post 0.59 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on BTSG. BTIG Research reaffirmed a “buy” rating and set a $55.00 price objective on shares of BrightSpring Health Services in a report on Monday, March 2nd. BMO Capital Markets restated an “outperform” rating and set a $46.00 target price on shares of BrightSpring Health Services in a research report on Friday, January 23rd. Bank of America upped their price target on BrightSpring Health Services from $38.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of BrightSpring Health Services in a report on Monday, December 29th. Finally, Cantor Fitzgerald set a $49.00 price objective on BrightSpring Health Services in a research report on Monday, March 2nd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $44.08.

Insiders Place Their Bets

In related news, insider Jon B. Rousseau sold 220,000 shares of BrightSpring Health Services stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total value of $9,053,000.00. Following the sale, the insider owned 1,023,880 shares of the company’s stock, valued at approximately $42,132,662. The trade was a 17.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lisa A. Nalley sold 30,000 shares of BrightSpring Health Services stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $41.15, for a total value of $1,234,500.00. Following the completion of the sale, the insider directly owned 110,594 shares in the company, valued at approximately $4,550,943.10. This represents a 21.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 285,000 shares of company stock valued at $11,727,750 in the last three months. 3.40% of the stock is currently owned by corporate insiders.

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.