Jennison Associates LLC bought a new position in BrightSpring Health Services, Inc. (NASDAQ:BTSG – Free Report) during the 1st quarter, HoldingsChannel.com reports. The fund bought 19,354 shares of the company’s stock, valued at approximately $825,000.
Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings 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 valued at $469,385,000 after buying an additional 2,928,953 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of BrightSpring Health Services by 936.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,276,583 shares of the company’s stock valued at $53,705,000 after buying an additional 2,056,920 shares in the last quarter. State Street Corp increased its holdings in BrightSpring Health Services by 99.5% in the fourth quarter. State Street Corp now owns 4,033,149 shares of the company’s stock worth $151,041,000 after buying an additional 2,011,095 shares during the last quarter. Jane Street Group LLC increased its holdings in BrightSpring Health Services by 855.4% in the second quarter. Jane Street Group LLC now owns 2,076,730 shares of the company’s stock worth $48,990,000 after buying an additional 1,859,369 shares during the last quarter. Finally, Invesco Ltd. raised its position in BrightSpring Health Services by 13.4% during the fourth quarter. Invesco Ltd. now owns 10,595,232 shares of the company’s stock valued at $396,791,000 after acquiring an additional 1,248,107 shares in the last quarter.
Wall Street Analyst Weigh In
Several research firms have commented on BTSG. TD Cowen boosted their target price on shares of BrightSpring Health Services from $65.00 to $81.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Guggenheim assumed coverage on shares of BrightSpring Health Services in a research note on Monday, July 13th. They set a “buy” rating and a $81.00 price target on the stock. Raymond James Financial assumed coverage on shares of BrightSpring Health Services in a report on Thursday, July 9th. They set an “outperform” rating and a $80.00 price target on the stock. Stephens lifted their price objective on shares of BrightSpring Health Services from $53.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Finally, BTIG Research upped their price objective on shares of BrightSpring Health Services from $65.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. 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. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $70.12.
Insiders Place Their Bets
In related news, insider Lisa A. Nalley sold 35,000 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $58.75, for a total value of $2,056,250.00. Following the transaction, the insider directly owned 131,948 shares in the company, valued at approximately $7,751,945. This trade represents a 20.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jon B. Rousseau sold 130,000 shares of BrightSpring Health Services stock in a transaction on Friday, June 5th. The stock was sold at an average price of $58.75, for a total transaction of $7,637,500.00. Following the completion of the transaction, the insider owned 1,194,503 shares in the company, valued at $70,177,051.25. This trade represents a 9.82% decrease in their position. The SEC filing for this sale provides additional information. 2.80% of the stock is currently owned by insiders.
BrightSpring Health Services Stock Down 3.9%
Shares of BTSG stock opened at $69.74 on Thursday. The stock’s 50 day simple moving average is $64.68 and its 200 day simple moving average is $50.43. BrightSpring Health Services, Inc. has a twelve month low of $19.01 and a twelve month high of $73.40. 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 company has a market capitalization of $13.76 billion, a price-to-earnings ratio of 49.46, a PEG ratio of 0.92 and a beta of 1.79.
BrightSpring Health Services (NASDAQ:BTSG – Get Free Report) last announced its earnings results on Friday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.10. BrightSpring Health Services had a return on equity of 14.63% and a net margin of 2.27%.The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter in the prior year, the business earned $0.14 earnings per share. The company’s revenue was up 25.6% on a year-over-year basis. As a group, research analysts predict that BrightSpring Health Services, Inc. will post 1.7 EPS for the current year.
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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