12 Best Booming Stocks to Invest in Now

9. BrightSpring Health Services, Inc. (NASDAQ:BTSG)

Number of Hedge Fund Holdings: 29

Year-to-Date Performance as of January 30: 42.34%

BrightSpring Health Services, Inc. (NASDAQ:BTSG) is a leading provider of home and community-based healthcare solutions. The company offers services in behavioral health, home health care, and pharmacy services and caters to individuals with disabilities, chronic conditions, and specialized medical needs. BrightSpring Health Services, Inc. (NASDAQ:BTSG) has a vast network in the United States and partners with healthcare organizations and insurers to deliver high-quality, cost-effective care.

On January 20, BrightSpring Health Services, Inc. (NASDAQ:BTSG) entered into a definitive agreement to divest its Community Living business, ResCare Community Living, to Sevita for $835 million in cash. The divestiture of the Community Living business allows the company to concentrate on its core Provider Services, which include Home Health and Hospice, Personal Care, Rehabilitation Services, and Primary Care. The divestiture will generate after-tax proceeds of approximately $715 million, which will be primarily used for debt reduction and is expected to strengthen the company’s balance sheet and reduce interest expenses. The improved financial health is a key factor driving investor confidence and contributing to the stock’s upward trajectory.

Furthermore, BrightSpring Health Services, Inc. (NASDAQ:BTSG) has reported preliminary 2024 financial results that surpass previous guidance, with Net Revenue expected to range between $11.20 billion and $11.30 billion, compared to the consensus estimate of $11.17 billion.