35,000 Shares in BrightSpring Health Services, Inc. $BTSG Bought by New York State Teachers Retirement System

Key Points

• New institutional buying: New York State Teachers Retirement System opened a new position in BrightSpring Health Services, buying 35,000 shares worth about $1.31 million in the fourth quarter.
• Analysts remain upbeat: Multiple firms raised price targets on BTSG, with several setting targets around $60 to $65. The stock carries a consensus Buy rating and an average target price of $56.29.
• Strong quarterly results: BrightSpring beat expectations with Q1 earnings of $0.39 per share versus $0.29 expected, and revenue of $3.61 billion versus $3.39 billion forecast. Revenue jumped 25.6% year over year.

New York State Teachers Retirement System purchased a new stake in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 35,000 shares of the company's stock, valued at approximately $1,311,000.

A number of other institutional investors have also made changes to their positions in BTSG. Lisanti Capital Growth LLC bought a new stake in BrightSpring Health Services during the third quarter worth about $1,959,000. Federated Hermes Inc. boosted its holdings in shares of BrightSpring Health Services by 44.8% in the 3rd quarter. Federated Hermes Inc. now owns 319,200 shares of the company's stock valued at $9,436,000 after buying an additional 98,745 shares during the last quarter. Prescott Group Capital Management L.L.C. bought a new position in shares of BrightSpring Health Services in the third quarter valued at $887,000. Bailard Inc. bought a new position in shares of BrightSpring Health Services in the third quarter valued at $378,000. Finally, Vanguard Group Inc. increased its holdings in BrightSpring Health Services by 6.4% during the third quarter. Vanguard Group Inc. now owns 9,604,703 shares of the company's stock worth $283,915,000 after buying an additional 576,906 shares during the last quarter.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on BTSG shares. KeyCorp upped their target price on shares of BrightSpring Health Services from $55.00 to $60.00 and gave the company an "overweight" rating in a report on Monday, May 4th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $60.00 price objective on shares of BrightSpring Health Services in a research report on Monday, May 4th. Mizuho boosted their price objective on BrightSpring Health Services from $52.00 to $61.00 and gave the stock an "outperform" rating in a report on Tuesday, May 5th. BMO Capital Markets increased their target price on BrightSpring Health Services from $52.00 to $60.00 and gave the stock an "outperform" rating in a research note on Friday, May 1st. Finally, TD Cowen lifted their price target on BrightSpring Health Services from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the stock. Based on data from MarketBeat, BrightSpring Health Services has an average rating of "Buy" and a consensus target price of $56.29.

BrightSpring Health Services Price Performance

BrightSpring Health Services stock opened at $54.83 on Friday. The firm has a market cap of $10.63 billion, a PE ratio of 38.89, a price-to-earnings-growth ratio of 0.75 and a beta of 1.71. The stock's fifty day moving average price is $44.21 and its two-hundred day moving average price is $39.32. BrightSpring Health Services, Inc. has a one year low of $19.01 and a one year high of $54.95. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.74 and a quick ratio of 1.38.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.10. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The business 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 posted $0.14 earnings per share. BrightSpring Health Services's revenue was up 25.6% compared to the same quarter last year. As a group, research analysts expect that BrightSpring Health Services, Inc. will post 1.64 EPS for the current fiscal year.

Insider Transactions at BrightSpring Health Services

In related news, CFO Jennifer A. Phipps sold 35,000 shares of the company's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total transaction of $1,440,250.00. Following the completion of the sale, the chief financial officer directly owned 196,840 shares in the company, valued at $8,099,966. This represents a 15.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jon B. Rousseau sold 220,000 shares of BrightSpring Health Services 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 transaction, the insider owned 1,023,880 shares in the company, valued at approximately $42,132,662. This represents a 17.69% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 285,000 shares of company stock valued at $11,727,750. Corporate 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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