SMART Wealth LLC Takes $346,000 Position in BrightSpring Health Services, Inc. $BTSG

SMART Wealth LLC acquired a new position in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) during the 1st quarter, HoldingsChannel.com reports. The fund acquired 8,121 shares of the company’s stock, valued at approximately $346,000.

Several other hedge funds have also modified their holdings of BTSG. NBC Securities Inc. purchased a new stake in BrightSpring Health Services in the fourth quarter valued at approximately $29,000. Salomon & Ludwin LLC purchased a new position in BrightSpring Health Services during the fourth quarter worth approximately $30,000. GHP Investment Advisors Inc. acquired a new position in shares of BrightSpring Health Services in the 1st quarter valued at $31,000. EverSource Wealth Advisors LLC acquired a new position in shares of BrightSpring Health Services in the 2nd quarter valued at $43,000. Finally, Farther Finance Advisors LLC grew its stake in shares of BrightSpring Health Services by 112.8% during the 4th quarter. Farther Finance Advisors LLC now owns 1,717 shares of the company’s stock valued at $64,000 after buying an additional 910 shares during the period.

Insider Buying and Selling

In other BrightSpring Health Services news, 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 value of $7,637,500.00. Following the transaction, the insider directly owned 1,194,503 shares of the company’s stock, valued at $70,177,051.25. This represents a 9.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Lisa A. Nalley sold 35,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $58.75, for a total value of $2,056,250.00. Following the transaction, the insider owned 131,948 shares of the company’s stock, valued at approximately $7,751,945. This trade represents a 20.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 2.80% of the company’s stock.

BrightSpring Health Services Stock Up 1.1%

Shares of NASDAQ BTSG opened at $69.74 on Wednesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.38 and a current ratio of 1.74. BrightSpring Health Services, Inc. has a 1 year low of $19.01 and a 1 year high of $70.72. The stock’s 50-day simple moving average is $58.40 and its 200-day simple moving average is $46.72. The firm has a market cap of $13.76 billion, a price-to-earnings ratio of 49.46, a PEG ratio of 0.89 and a beta of 1.87.

BrightSpring Health Services (NASDAQ:BTSG) last issued its quarterly earnings results on Friday, May 1st. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.10. BrightSpring Health Services had a return on equity of 14.63% and a net margin of 2.27%.The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the prior year, the business posted $0.14 earnings per share. BrightSpring Health Services’s revenue for the quarter was up 25.6% on a year-over-year basis. As a group, equities analysts anticipate that BrightSpring Health Services, Inc. will post 1.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BTSG has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $60.00 price objective on shares of BrightSpring Health Services in a report on Monday, May 4th. Weiss Ratings upgraded BrightSpring Health Services from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, May 4th. 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 report on Monday, May 4th. The Goldman Sachs Group began coverage on BrightSpring Health Services in a research note on Monday, June 8th. They set a “buy” rating and a $71.00 price target for the company. Finally, TD Cowen raised their price objective on BrightSpring Health Services from $65.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Two analysts have rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $61.27.

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.