Oregon Public Employees Retirement Fund bought a new position in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG – Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 26,000 shares of the company’s stock, valued at approximately $974,000.
Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of BrightSpring Health Services by 30.5% during the 4th quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company’s stock worth $469,385,000 after buying an additional 2,928,953 shares during the last quarter. Invesco Ltd. lifted its position in shares of BrightSpring Health Services by 2.5% during the 3rd quarter. Invesco Ltd. now owns 9,347,125 shares of the company’s stock worth $276,301,000 after buying an additional 227,717 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of BrightSpring Health Services by 12.1% during the 2nd quarter. Alliancebernstein L.P. now owns 5,450,085 shares of the company’s stock worth $128,568,000 after buying an additional 588,642 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of BrightSpring Health Services by 936.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,276,583 shares of the company’s stock worth $53,705,000 after buying an additional 2,056,920 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of BrightSpring Health Services by 123.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,096,949 shares of the company’s stock worth $61,966,000 after buying an additional 1,160,500 shares during the last quarter.
Analysts Set New Price Targets
Several analysts recently weighed in on the company. UBS Group upped their price objective on BrightSpring Health Services from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. Weiss Ratings upgraded BrightSpring Health Services from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, May 4th. Zacks Research upgraded BrightSpring Health Services from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 3rd. Wells Fargo & Company increased their target price on BrightSpring Health Services from $50.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Finally, Stephens increased their target price on BrightSpring Health Services from $53.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $56.29.
BrightSpring Health Services Price Performance
BrightSpring Health Services stock opened at $56.18 on Tuesday. The company has a current ratio of 1.74, a quick ratio of 1.38 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $10.89 billion, a PE ratio of 39.84, a P/E/G ratio of 0.76 and a beta of 1.71. BrightSpring Health Services, Inc. has a 12 month low of $19.01 and a 12 month high of $59.00. The stock has a 50-day moving average price of $46.33 and a two-hundred day moving average price of $40.48.
BrightSpring Health Services (NASDAQ:BTSG – Get Free Report) last posted its earnings results on Friday, May 1st. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.29 by $0.10. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.39 billion. BrightSpring Health Services had a return on equity of 14.63% and a net margin of 2.27%.The business’s quarterly revenue was up 25.6% on a year-over-year basis. During the same period last year, the company earned $0.14 earnings per share. Analysts expect that BrightSpring Health Services, Inc. will post 1.64 EPS for the current year.
Insider Activity
In other news, insider Lisa A. Nalley sold 30,000 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total value of $1,234,500.00. Following the completion of the sale, the insider owned 110,594 shares of the company’s stock, valued at approximately $4,550,943.10. This represents a 21.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jon B. Rousseau sold 220,000 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $41.15, for a total value of $9,053,000.00. Following the completion of the sale, the insider directly owned 1,023,880 shares of the company’s stock, valued at approximately $42,132,662. The trade was a 17.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 285,000 shares of company stock valued at $11,727,750. Company insiders own 2.80% of the company’s stock.
BrightSpring Health Services Profile
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.
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