BrightSpring Health Services, Inc.
In the published model solve dated 2026-Q2, anchored at $60.64, BrightSpring Health Services, Inc. (BTSG) is priced for today's economics sustained for ~7.5 years. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 25, 2026 from SEC EDGAR filings.
• Pharmacy Solutions is 89% of revenue, and most of each revenue dollar is drug cost moving through the business, which leaves an operating margin of 2.4% and makes margin, not growth, the number that decides the outcome. • Government programmes are the single largest exposure: the 10-K says the company ⟦"derive[s] substantial revenue from government healthcare programs, primarily Medicare and Medicaid"⟧, and on a 2.4% margin a modest rate change is a large profit change. • Second-quarter result
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325 institutional managers reported holding BTSG in 13F filings for the quarter ended 2026-03-31. Together they hold about 94% of the company; the top 10 hold 64%. 81 opened new positions that quarter. Held by KKR, FMR (Fidelity), BlackRock, among others. On the short side, 9.4M shares were sold short as of the 2026-06-15 count, about 4% of shares outstanding (2.2 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
Open-market insider buys at BTSG over the trailing three years: 2024: 10 buys totaling $259.55M. 11 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
BTSG's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2024-08-03 | -8.7% | +32.4% |
| 2024-11-02 | +15.1% | +2.3% |
| 2025-03-07 | -4.8% | +30.7% |
| 2025-05-03 | +16.5% | +6.0% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
BTSG's latest 8-K filings: 2026-07-31 (items 2.02, 9.01); 2026-06-12 (items 5.02, 7.01, 9.01); 2026-06-05 (items 1.01, 9.01); 2026-05-21 (items 5.07); 2026-05-01 (items 2.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 25, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.