Cookson Peirce & Co. Inc. Makes New Investment in BrightSpring Health Services, Inc. $BTSG

Cookson Peirce & Co. Inc. acquired a new position in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 24,579 shares of the company’s stock, valued at approximately $920,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. NBC Securities Inc. purchased a new position in BrightSpring Health Services during the 4th quarter worth $29,000. Salomon & Ludwin LLC purchased a new position in BrightSpring Health Services during the 4th quarter worth $30,000. EverSource Wealth Advisors LLC purchased a new position in BrightSpring Health Services during the 2nd quarter worth $43,000. Farther Finance Advisors LLC grew its position in BrightSpring Health Services by 112.8% during the 4th quarter. Farther Finance Advisors LLC now owns 1,717 shares of the company’s stock worth $64,000 after purchasing an additional 910 shares during the last quarter. Finally, CWM LLC grew its position in BrightSpring Health Services by 17.5% during the 4th quarter. CWM LLC now owns 1,874 shares of the company’s stock worth $70,000 after purchasing an additional 279 shares during the last quarter.

BrightSpring Health Services Price Performance

Shares of NASDAQ:BTSG opened at $57.40 on Monday. The company has a market cap of $11.32 billion, a price-to-earnings ratio of 40.71, a PEG ratio of 0.74 and a beta of 1.87. The firm’s 50-day simple moving average is $51.25 and its 200-day simple moving average is $43.07. The company has a quick ratio of 1.38, a current ratio of 1.74 and a debt-to-equity ratio of 1.24. BrightSpring Health Services, Inc. has a fifty-two week low of $19.01 and a fifty-two week high of $62.11.

BrightSpring Health Services (NASDAQ:BTSG) last issued its earnings results on Friday, May 1st. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the previous year, the firm earned $0.14 earnings per share. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. As a group, equities research analysts predict that BrightSpring Health Services, Inc. will post 1.67 earnings per share for the current year.

Insider Activity

In related news, insider Jon B. Rousseau sold 130,000 shares of the firm’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 $7,637,500.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Lisa A. Nalley sold 35,000 shares of the firm’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 completion of the sale, the insider owned 131,948 shares of the company’s stock, valued at $7,751,945. This trade represents a 20.96% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Cantor Fitzgerald set a $49.00 target price on shares of BrightSpring Health Services in a report on Monday, March 2nd. Zacks Research raised shares of BrightSpring Health Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 3rd. Leerink Partners reaffirmed an “outperform” rating and issued a $49.00 target price on shares of BrightSpring Health Services in a report on Wednesday, March 18th. Wells Fargo & Company lifted their target price on shares of BrightSpring Health Services from $50.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Finally, KeyCorp lifted their target price on shares of BrightSpring Health Services from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $57.64.

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.