BrightSpring Health Services, Inc. $BTSG Position Decreased by Smith Group Asset Management LLC

Smith Group Asset Management LLC lessened its holdings in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 61.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 19,404 shares of the company’s stock after selling 30,330 shares during the quarter. Smith Group Asset Management LLC’s holdings in BrightSpring Health Services were worth $1,101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Allworth Financial LP purchased a new stake in shares of BrightSpring Health Services in the 2nd quarter worth $28,000. Root Financial Partners LLC bought a new position in BrightSpring Health Services in the 3rd quarter worth $25,000. IFP Advisors Inc raised its holdings in BrightSpring Health Services by 204.5% in the 2nd quarter. IFP Advisors Inc now owns 606 shares of the company’s stock worth $42,000 after purchasing an additional 407 shares during the period. Kilter Group LLC bought a new position in BrightSpring Health Services in the 2nd quarter worth $50,000. Finally, Public Employees Retirement System of Ohio purchased a new position in BrightSpring Health Services during the second quarter valued at $63,000.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BTSG. Raymond James Financial started coverage on BrightSpring Health Services in a report on Thursday, July 9th. They set an “outperform” rating and a $80.00 price target for the company. UBS Group raised their price objective on BrightSpring Health Services from $63.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Bank of America lifted 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. Wells Fargo & Company lifted their price objective on BrightSpring Health Services from $61.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Finally, Weiss Ratings downgraded BrightSpring Health Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $72.88.

BrightSpring Health Services Price Performance

BTSG stock opened at $59.46 on Thursday. The firm has a market capitalization of $11.76 billion, a P/E ratio of 35.82, a price-to-earnings-growth ratio of 0.78 and a beta of 1.87. BrightSpring Health Services, Inc. has a 52 week low of $30.64 and a 52 week high of $73.75. The company has a fifty day simple moving average of $59.77 and a two-hundred day simple moving average of $54.29. The company has a quick ratio of 1.22, a current ratio of 1.59 and a debt-to-equity ratio of 1.06.

BrightSpring Health Services (NASDAQ:BTSG) last released its quarterly earnings results on Friday, July 31st. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.05. BrightSpring Health Services had a return on equity of 16.73% and a net margin of 2.55%. The company had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same quarter in the prior year, the firm posted $0.22 EPS. BrightSpring Health Services’s quarterly revenue was up 23.0% compared to the same quarter last year. Analysts anticipate that BrightSpring Health Services, Inc. will post 1.64 earnings per share for the current fiscal year.

About BrightSpring Health Services

BrightSpring Health Services (NASDAQ:BTSG) is a Louisville, Kentucky-based provider of home- and community-based health services and pharmacy services. The company focuses on supporting individuals with complex or chronic care needs, including older adults and people with disabilities, through care delivered in homes, communities and other non-hospital settings.

Its services include home health, hospice, personal care, behavioral health, primary care, rehabilitation and community living programs.