Kornitzer Capital Management Inc. KS Acquires 16,490 Shares of BrightSpring Health Services, Inc. $BTSG

Kornitzer Capital Management Inc. KS lifted its holdings in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 16.7% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 115,460 shares of the company’s stock after buying an additional 16,490 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in BrightSpring Health Services were worth $6,552,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Pictet Asset Management Holding SA boosted its stake in BrightSpring Health Services by 6.0% in the third quarter. Pictet Asset Management Holding SA now owns 24,762 shares of the company’s stock valued at $1,405,000 after buying an additional 1,397 shares in the last quarter. Calamos Advisors LLC acquired a new position in BrightSpring Health Services during the third quarter worth about $1,303,000. Kraematon Investment Advisors Inc. acquired a new position in BrightSpring Health Services during the third quarter worth about $211,000. Kestra Advisory Services LLC acquired a new position in BrightSpring Health Services during the third quarter worth about $206,000. Finally, Bridge City Capital LLC bought a new position in shares of BrightSpring Health Services in the third quarter worth about $4,057,000.

Analyst Ratings Changes

A number of research firms have recently weighed in on BTSG. Wall Street Zen upgraded shares of BrightSpring Health Services from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 31st. The Goldman Sachs Group reiterated a “buy” rating and set a $90.00 price objective on shares of BrightSpring Health Services in a research report on Monday, November 2nd. TD Cowen upped their price objective on shares of BrightSpring Health Services from $81.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, November 2nd. KeyCorp reissued an “overweight” rating on shares of BrightSpring Health Services in a research note on Monday, August 3rd. Finally, Leerink Partners raised their target price on shares of BrightSpring Health Services from $72.00 to $92.00 and gave the company an “outperform” rating in a research report on Monday, November 2nd. Two investment analysts have rated the stock with a Strong Buy rating and seventeen have issued a Buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $77.81.

BrightSpring Health Services Price Performance

Shares of BTSG opened at $67.15 on Monday. The company has a market capitalization of $13.36 billion, a PE ratio of 36.30, a PEG ratio of 0.73 and a beta of 1.77. BrightSpring Health Services, Inc. has a 12 month low of $30.64 and a 12 month high of $73.75. The stock’s 50-day moving average price is $60.76 and its two-hundred day moving average price is $55.26. The company has a current ratio of 1.62, a quick ratio of 1.22 and a debt-to-equity ratio of 0.99.

BrightSpring Health Services (NASDAQ:BTSG) last released its quarterly earnings results on Friday, October 30th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.07. The firm had revenue of $4.21 billion for the quarter, compared to analyst estimates of $3.88 billion. BrightSpring Health Services had a return on equity of 18.56% and a net margin of 2.69%. The company’s revenue for the quarter was up 26.4% compared to the same quarter last year. On average, analysts anticipate that BrightSpring Health Services, Inc. will post 1.70 EPS for the current year.

BrightSpring Health Services Company Profile

BrightSpring Health Services is a provider of home- and community-based health services in the United States. The company supports people with complex health needs, including individuals with intellectual and developmental disabilities, behavioral health conditions, and chronic or age-related illnesses.

Its services include home health and hospice care, behavioral health and rehabilitation, residential and community-based support, and pharmacy services. BrightSpring’s pharmacy operations provide prescription dispensing and related services to people receiving care in homes, community settings, and long-term care facilities.

Headquartered in Louisville, Kentucky, BrightSpring operates across the United States.