Healthcare of Ontario Pension Plan Trust Fund Sells 978,525 Shares of BrightSpring Health Services, Inc. $BTSG

Healthcare of Ontario Pension Plan Trust Fund reduced its stake in BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 39.5% during the first quarter, Holdings Channel.com reports. The institutional investor owned 1,500,000 shares of the company’s stock after selling 978,525 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in BrightSpring Health Services were worth $63,915,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the stock. SG Americas Securities LLC grew its holdings in BrightSpring Health Services by 1,221.9% during the fourth quarter. SG Americas Securities LLC now owns 183,103 shares of the company’s stock valued at $6,857,000 after purchasing an additional 169,251 shares during the period. New York State Teachers Retirement System bought a new stake in shares of BrightSpring Health Services in the fourth quarter valued at $1,311,000. State of Alaska Department of Revenue raised its stake in shares of BrightSpring Health Services by 540.6% in the fourth quarter. State of Alaska Department of Revenue now owns 68,973 shares of the company’s stock valued at $2,582,000 after buying an additional 58,206 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of BrightSpring Health Services by 701.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 255,902 shares of the company’s stock valued at $9,827,000 after buying an additional 223,988 shares during the last quarter. Finally, Westover Capital Advisors LLC purchased a new position in shares of BrightSpring Health Services during the 4th quarter valued at $697,000.

BrightSpring Health Services Trading Up 4.4%

NASDAQ:BTSG opened at $72.91 on Friday. The firm has a market capitalization of $14.38 billion, a P/E ratio of 51.71, a P/E/G ratio of 0.92 and a beta of 1.79. The company has a quick ratio of 1.38, a current ratio of 1.74 and a debt-to-equity ratio of 1.24. The company has a fifty day moving average of $65.20 and a 200 day moving average of $50.81. BrightSpring Health Services, Inc. has a 52 week low of $19.01 and a 52 week high of $73.40.

BrightSpring Health Services (NASDAQ:BTSG) last released its quarterly earnings data on Friday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.10. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter in the previous year, the company earned $0.14 earnings per share. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. On average, research analysts predict that BrightSpring Health Services, Inc. will post 1.7 earnings per share for the current year.

Insider Transactions at BrightSpring Health Services

In related news, 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 directly owned 1,194,503 shares of the company’s stock, valued at $70,177,051.25. This trade represents a 9.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 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. The trade was a 20.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 2.80% of the company’s stock.

Analyst Ratings Changes

BTSG has been the subject of a number of research reports. Guggenheim began coverage on BrightSpring Health Services in a report on Monday, July 13th. They issued a “buy” rating and a $81.00 price objective for the company. UBS Group boosted their target price on BrightSpring Health Services from $63.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $60.00 target price on shares of BrightSpring Health Services in a research note on Monday, May 4th. Morgan Stanley increased their price target on shares of BrightSpring Health Services from $71.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Finally, The Goldman Sachs Group began coverage on shares of BrightSpring Health Services in a research note on Monday, June 8th. They set a “buy” rating and a $71.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, BrightSpring Health Services presently has a consensus rating of “Buy” and an average target price of $70.12.

BrightSpring Health Services Company 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.