BrightSpring Health Services, Inc. $BTSG Stock Position Increased by Castleark Management LLC

Castleark Management LLC increased its position in BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 55.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 247,200 shares of the company’s stock after buying an additional 88,600 shares during the quarter. Castleark Management LLC’s holdings in BrightSpring Health Services were worth $10,533,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of BTSG. CWM LLC raised its position in BrightSpring Health Services by 17.5% in the fourth quarter. CWM LLC now owns 1,874 shares of the company’s stock worth $70,000 after acquiring an additional 279 shares in the last quarter. State of Wyoming boosted its position in shares of BrightSpring Health Services by 4.5% during the 1st quarter. State of Wyoming now owns 7,776 shares of the company’s stock valued at $331,000 after purchasing an additional 336 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of BrightSpring Health Services by 17.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,826 shares of the company’s stock valued at $143,000 after purchasing an additional 565 shares in the last quarter. Moran Wealth Management LLC grew its stake in shares of BrightSpring Health Services by 9.0% in the 1st quarter. Moran Wealth Management LLC now owns 6,925 shares of the company’s stock worth $295,000 after purchasing an additional 572 shares during the last quarter. Finally, GHP Investment Advisors Inc. acquired a new position in shares of BrightSpring Health Services in the 1st quarter worth approximately $31,000.

BrightSpring Health Services Stock Performance

NASDAQ BTSG opened at $72.91 on Monday. BrightSpring Health Services, Inc. has a twelve month low of $19.01 and a twelve month high of $73.40. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.38 and a current ratio of 1.74. The stock has a market cap of $14.38 billion, a price-to-earnings ratio of 51.71, a PEG ratio of 0.92 and a beta of 1.79. The firm’s 50 day moving average price is $65.20 and its two-hundred day moving average price is $50.89.

BrightSpring Health Services (NASDAQ:BTSG) last announced its earnings results on Friday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.10. The company had revenue of $3.61 billion for the quarter, compared to the consensus estimate 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 period in the previous year, the business earned $0.14 EPS. Equities analysts anticipate that BrightSpring Health Services, Inc. will post 1.7 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. The Goldman Sachs Group started coverage on shares of BrightSpring Health Services in a research note on Monday, June 8th. They set a “buy” rating and a $71.00 target price for the company. BTIG Research lifted their price target on shares of BrightSpring Health Services from $65.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. Mizuho upped their price target on BrightSpring Health Services from $52.00 to $61.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Bank of America increased their price objective on BrightSpring Health Services from $66.00 to $77.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $60.00 price objective on shares of BrightSpring Health Services in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $70.12.

Insiders Place Their Bets

In other BrightSpring Health Services news, insider Lisa A. Nalley sold 35,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider directly owned 131,948 shares in the company, valued at approximately $7,751,945. This trade represents a 20.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jon B. Rousseau sold 130,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $70,177,051.25. The trade was a 9.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.80% of the company’s stock.

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.