Orbimed Advisors LLC Has $21.21 Million Position in BrightSpring Health Services, Inc. $BTSG

Orbimed Advisors LLC grew its holdings in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSGFree Report) by 1.9% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 497,800 shares of the company’s stock after purchasing an additional 9,300 shares during the period. Orbimed Advisors LLC’s holdings in BrightSpring Health Services were worth $21,211,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. NBC Securities Inc. bought a new position in shares of BrightSpring Health Services in the 4th quarter valued at about $29,000. Salomon & Ludwin LLC bought a new position in BrightSpring Health Services in the fourth quarter valued at approximately $30,000. GHP Investment Advisors Inc. acquired a new position in shares of BrightSpring Health Services during the 1st quarter worth approximately $31,000. EverSource Wealth Advisors LLC acquired a new position in shares of BrightSpring Health Services during the 2nd quarter worth approximately $43,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of BrightSpring Health Services during the 1st quarter worth approximately $52,000.

BrightSpring Health Services Stock Performance

NASDAQ BTSG opened at $72.91 on Monday. The firm has a 50-day moving average of $65.20 and a 200-day moving average of $50.89. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.38 and a current ratio of 1.74. The stock has a market cap of $14.38 billion, a PE ratio of 51.71, a P/E/G ratio of 0.92 and a beta of 1.79. BrightSpring Health Services, Inc. has a 52-week low of $19.01 and a 52-week high of $73.40.

BrightSpring Health Services (NASDAQ:BTSGGet Free Report) last announced its earnings results on Friday, May 1st. The company reported $0.39 EPS for the quarter, topping the consensus estimate 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 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 firm posted $0.14 EPS. BrightSpring Health Services’s revenue was up 25.6% compared to the same quarter last year. On average, sell-side analysts anticipate that BrightSpring Health Services, Inc. will post 1.7 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on BTSG shares. TD Cowen increased their price objective on BrightSpring Health Services from $65.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, June 18th. 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 report on Tuesday, May 5th. Morgan Stanley upped their price target on shares of BrightSpring Health Services from $71.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Guggenheim started coverage on shares of BrightSpring Health Services in a research report on Monday, July 13th. They set a “buy” rating and a $81.00 price target on the stock. Finally, Wells Fargo & Company increased their price target on shares of BrightSpring Health Services from $61.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $70.12.

Read Our Latest Stock Analysis on BTSG

Insider Activity at BrightSpring Health Services

In other news, insider Lisa A. Nalley sold 35,000 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $58.75, for a total transaction of $2,056,250.00. Following the transaction, the insider owned 131,948 shares in the company, valued at approximately $7,751,945. This trade represents a 20.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jon B. Rousseau sold 130,000 shares of the stock in a transaction that occurred on 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 transaction, the insider owned 1,194,503 shares in the company, valued at approximately $70,177,051.25. This trade represents a 9.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.80% of the company’s stock.

BrightSpring Health Services Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for BrightSpring Health Services (NASDAQ:BTSG)

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