Wealthstar Advisors LLC Makes New $1.52 Million Investment in BrightSpring Health Services, Inc. $BTSG

Wealthstar Advisors LLC bought a new position in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) in the first quarter, HoldingsChannel reports. The firm bought 35,791 shares of the company’s stock, valued at approximately $1,525,000. BrightSpring Health Services makes up approximately 0.7% of Wealthstar Advisors LLC’s investment portfolio, making the stock its 27th largest holding.

A number of other large investors have also modified their holdings of the business. AQR Capital Management LLC acquired a new stake in shares of BrightSpring Health Services in the 1st quarter valued at approximately $276,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in BrightSpring Health Services by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,429 shares of the company’s stock worth $587,000 after acquiring an additional 1,780 shares in the last quarter. Millennium Management LLC raised its position in BrightSpring Health Services by 0.3% in the first quarter. Millennium Management LLC now owns 577,885 shares of the company’s stock worth $10,454,000 after acquiring an additional 1,967 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in BrightSpring Health Services by 11.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,280 shares of the company’s stock valued at $2,664,000 after acquiring an additional 14,586 shares during the period. Finally, Prudential Financial Inc. acquired a new stake in BrightSpring Health Services in the second quarter valued at $351,000.

BrightSpring Health Services Price Performance

BrightSpring Health Services stock opened at $69.03 on Friday. BrightSpring Health Services, Inc. has a fifty-two week low of $19.01 and a fifty-two week high of $70.91. The firm has a market capitalization of $13.62 billion, a price-to-earnings ratio of 48.96, a price-to-earnings-growth ratio of 0.89 and a beta of 1.79. The stock’s fifty day moving average is $59.74 and its two-hundred day moving average is $47.34. 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 (NASDAQ:BTSG) last released its quarterly earnings results on Friday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the previous year, the company posted $0.14 EPS. The business’s revenue was up 25.6% on a year-over-year basis. Analysts predict that BrightSpring Health Services, Inc. will post 1.67 EPS for the current fiscal year.

Insider Transactions at BrightSpring Health Services

In other BrightSpring Health Services news, insider Jon B. Rousseau sold 130,000 shares of BrightSpring Health Services stock in a transaction dated 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 transaction, the insider owned 1,194,503 shares in the company, valued at approximately $70,177,051.25. The trade was a 9.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Lisa A. Nalley sold 35,000 shares of the company’s stock in a transaction dated 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 directly owned 131,948 shares in the company, valued at $7,751,945. This trade represents a 20.96% decrease in their position. The SEC filing for this sale provides additional information. 2.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on BTSG. Mizuho boosted their target price on shares of BrightSpring Health Services from $52.00 to $61.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. TD Cowen increased their price target on shares of BrightSpring Health Services from $65.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Morgan Stanley raised their price objective on shares of BrightSpring Health Services from $62.00 to $71.00 and gave the company an “overweight” rating in a research note on Tuesday, June 2nd. Wells Fargo & Company boosted their price objective on shares of BrightSpring Health Services from $50.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Finally, Bank of America upped their target price on shares of BrightSpring Health Services from $66.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday. Two analysts have rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $63.67.

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.