BrightSpring Health Services, Inc. (NASDAQ:BTSG) Stake Reduced by 8 Knots Management LLC

8 Knots Management LLC decreased its position in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 19.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,642,129 shares of the company’s stock after selling 1,136,058 shares during the quarter. BrightSpring Health Services accounts for 7.9% of 8 Knots Management LLC’s portfolio, making the stock its 5th largest position. 8 Knots Management LLC owned about 2.67% of BrightSpring Health Services worth $79,055,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC grew its stake in shares of BrightSpring Health Services by 21.6% in the fourth quarter. FMR LLC now owns 22,102,490 shares of the company’s stock worth $376,405,000 after acquiring an additional 3,933,303 shares during the period. T. Rowe Price Investment Management Inc. purchased a new stake in BrightSpring Health Services in the fourth quarter worth approximately $26,958,000. Norges Bank purchased a new position in shares of BrightSpring Health Services in the 4th quarter worth $26,065,000. Raymond James Financial Inc. purchased a new stake in BrightSpring Health Services during the fourth quarter valued at $18,257,000. Finally, Renaissance Technologies LLC lifted its holdings in BrightSpring Health Services by 205.6% in the fourth quarter. Renaissance Technologies LLC now owns 557,700 shares of the company’s stock valued at $9,498,000 after acquiring an additional 375,200 shares during the period.

Analyst Ratings Changes

Separately, UBS Group upped their price target on shares of BrightSpring Health Services from $22.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.67.

BrightSpring Health Services Price Performance

NASDAQ BTSG opened at $17.31 on Tuesday. The company has a current ratio of 1.35, a quick ratio of 0.97 and a debt-to-equity ratio of 1.63. BrightSpring Health Services, Inc. has a 12 month low of $10.15 and a 12 month high of $24.82. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of -66.58 and a beta of 2.02. The company’s 50 day moving average is $17.72 and its two-hundred day moving average is $18.44.

BrightSpring Health Services Company Profile

BrightSpring Health Services, Inc operates a home and community-based healthcare services platform in the United States. The company's platform focuses on delivering pharmacy and provider services, including clinical and supportive care in home and community settings to Medicare, Medicaid, and insured populations.