Sterling Capital Management LLC Trims Stock Position in BrightSpring Health Services, Inc. $BTSG

Sterling Capital Management LLC lessened its stake in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 61.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,391 shares of the company’s stock after selling 35,472 shares during the period. Sterling Capital Management LLC’s holdings in BrightSpring Health Services were worth $954,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of BTSG. GHP Investment Advisors Inc. bought a new position in BrightSpring Health Services in the first quarter worth approximately $31,000. Louisiana State Employees Retirement System bought a new stake in BrightSpring Health Services during the 1st quarter valued at $2,501,000. OP Asset Management Ltd purchased a new stake in shares of BrightSpring Health Services in the 1st quarter worth $753,000. Assenagon Asset Management S.A. bought a new position in shares of BrightSpring Health Services during the 1st quarter worth $1,341,000. Finally, Balboa Wealth Partners bought a new position in shares of BrightSpring Health Services during the 1st quarter worth $297,000.

Insider Buying and Selling

In related news, insider Jon B. Rousseau sold 130,000 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 transaction of $7,637,500.00. Following the completion of the sale, the insider owned 1,194,503 shares of the company’s stock, valued at $70,177,051.25. This represents a 9.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Lisa A. Nalley sold 35,000 shares of the firm’s stock in a transaction that occurred on 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 approximately $7,751,945. This trade represents a 20.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.80% of the stock is owned by insiders.

BrightSpring Health Services Price Performance

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

BrightSpring Health Services (NASDAQ:BTSG) last announced its earnings results on Friday, May 1st. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.10. The business had revenue of $3.61 billion during 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 firm’s revenue was up 25.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.14 earnings per share. Research analysts predict that BrightSpring Health Services, Inc. will post 1.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Weiss Ratings upgraded BrightSpring Health Services from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, May 4th. Stephens increased their target price on shares of BrightSpring Health Services from $53.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. BTIG Research raised their target price on shares of BrightSpring Health Services from $65.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. UBS Group boosted their price target on shares of BrightSpring Health Services from $53.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, March 18th. Finally, Leerink Partners reaffirmed an “outperform” rating and issued a $49.00 price target on shares of BrightSpring Health Services in a research report on Wednesday, March 18th. Two investment analysts have rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $61.27.

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.