BrightSpring Stock Up 86% as Braidwell Takes $45 Million Stake in Healthcare Services Provider

Connecticut-based Braidwell initiated a new position in BrightSpring Health Services (NASDAQ:BTSG) in its February 17, 2026, SEC filing, acquiring 1,195,786 shares with an estimated transaction value of $44.78 million.

What happened

According to a filing with the Securities and Exchange Commission (SEC) dated February 17, 2026, Braidwell disclosed a new holding of 1,195,786 shares in BrightSpring Health Services. The quarter-end value of the position stood at $44.78 million, reflecting both the purchase and any movement in share price during the period.

What else to know

• This was a new position for the fund and accounted for 1.43% of its 13F reportable assets under management as of December 31, 2025.
• Top holdings after the filing:
  • NASDAQ:CAI: $210.88 million (8.08% of AUM)
  • NASDAQ:EWTX: $129.31 million (4.95% of AUM)
  • NASDAQ:NBIX: $106.59 million (4.08% of AUM)
  • NYSE:GKOS: $104.10 million (3.99% of AUM)
  • NASDAQ:NUVL: $82.63 million (3.16% of AUM)
• As of February 18, 2026, shares of BrightSpring Health Services were priced at $41.15, up 85.8% over the past year and outperforming the S&P 500 by 73.51 percentage points.

Company overview

Company snapshot

• BrightSpring Health Services delivers home and community-based healthcare services, including pharmacy and clinical care, with a focus on Medicare, Medicaid, and insured populations.
• The company operates an integrated platform combining provider and pharmacy services to generate revenue through direct patient care and medication management.
• It serves patients requiring clinical and supportive care in home and community settings, targeting both public and private payor markets across the United States.

BrightSpring Health Services, Inc. is a leading provider of home and community-based healthcare services in the United States, leveraging a large workforce and integrated platform to address complex patient needs. The company’s strategy centers on delivering coordinated pharmacy and provider solutions to a diverse patient population, supported by a robust presence in both government and commercial healthcare markets. Scale, service breadth, and a focus on value-based care position BrightSpring as a key player in the evolving healthcare landscape.

What this transaction means for investors

Healthcare services are increasingly a scale game, and BrightSpring’s latest numbers show why that matters. Revenue in the third quarter jumped 28.2% year over year to $3.33 billion, while adjusted EBITDA climbed 37.2% to $160 million. Net income from continuing operations swung to $37.5 million from a loss a year ago. Management also lifted full-year revenue guidance to as much as $12.8 billion and reiterated EBITDA expectations of up to $615 million.

Against that backdrop, a new $44.8 million position represents a relatively modest 1.43% slice of reported equity assets, especially compared with larger biotechnology holdings elsewhere in the portfolio. That sizing suggests conviction, but not concentration risk. BrightSpring’s integrated pharmacy and provider model, serving more than 460,000 patients daily, offers recurring revenue streams tied to Medicare, Medicaid, and managed care populations.

For long-term investors, the key questions are durability and leverage. With leverage at 3.31x and growth accelerating in both pharmacy and provider segments, execution and reimbursement stability will drive returns more than short-term share swings. This looks like a measured way to gain exposure to a scaled, cash-generating healthcare platform rather than a speculative bet on binary outcomes.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool recommends Neurocrine Biosciences. The Motley Fool has a disclosure policy.