Handelsbanken Fonder AB Increases Holdings in BrightSpring Health Services, Inc. $BTSG

Handelsbanken Fonder AB increased its position in BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 40.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,900 shares of the company’s stock after purchasing an additional 10,700 shares during the quarter. Handelsbanken Fonder AB’s holdings in BrightSpring Health Services were worth $2,573,000 as of its most recent SEC filing.

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

BrightSpring Health Services Stock Performance

Shares of BrightSpring Health Services stock opened at $61.71 on Monday. The company has a market capitalization of $12.21 billion, a PE ratio of 37.17, a P/E/G ratio of 0.75 and a beta of 1.88. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.22 and a current ratio of 1.59. The company has a 50-day simple moving average of $66.64 and a two-hundred day simple moving average of $53.48. BrightSpring Health Services, Inc. has a one year low of $22.36 and a one year high of $73.75.

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 analysts’ consensus estimates of $0.40 by $0.05. BrightSpring Health Services had a net margin of 2.55% and a return on equity of 16.73%. The business had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same period last year, the business earned $0.22 EPS. The company’s revenue was up 23.0% compared to the same quarter last year. Research analysts expect that BrightSpring Health Services, Inc. will post 1.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Morgan Stanley upped their price objective on shares of BrightSpring Health Services from $71.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. KeyCorp restated an “overweight” rating on shares of BrightSpring Health Services in a report on Monday, August 3rd. BMO Capital Markets set a $70.00 price target on shares of BrightSpring Health Services in a research report on Thursday, May 21st. Zacks Research upgraded shares of BrightSpring Health Services from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. Finally, UBS Group lifted their price objective on shares of BrightSpring Health Services from $63.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating and eighteen have given a Buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $70.71.

Insider Buying and Selling

In other BrightSpring Health Services news, 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 value 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jon B. Rousseau sold 130,000 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 $7,637,500.00. Following the completion of the sale, the insider owned 1,194,503 shares of the company’s stock, valued at approximately $70,177,051.25. This trade represents a 9.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate 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.