38,367 BrightSpring Health Services, Inc. $BTSG Shares Sold by State of Alaska Department of Revenue

Key Points

• State of Alaska reduced its BrightSpring Health Services stake by 60.7% in the third quarter, selling 38,367 shares and retaining 24,826 shares valued at approximately $1.41 million.
• BrightSpring reported strong quarterly results, with EPS of $0.45 versus the $0.40 consensus and revenue of $3.87 billion, up 23% year over year.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $70.71, compared with the stock’s reported price of $61.29.

State of Alaska Department of Revenue cut its stake in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 60.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,826 shares of the company's stock after selling 38,367 shares during the quarter. State of Alaska Department of Revenue's holdings in BrightSpring Health Services were worth $1,407,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. The Manufacturers Life Insurance Company acquired a new stake in BrightSpring Health Services during the second quarter valued at $239,377,000. Bank of America Corp DE acquired a new position in BrightSpring Health Services in the 2nd quarter worth about $127,475,000. Bank of New York Mellon Corp acquired a new position in BrightSpring Health Services in the 2nd quarter worth about $118,162,000. Arrowstreet Capital Limited Partnership increased its position in BrightSpring Health Services by 109.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,370,440 shares of the company's stock worth $58,394,000 after purchasing an additional 716,949 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of BrightSpring Health Services by 236.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 860,134 shares of the company's stock worth $36,151,000 after purchasing an additional 604,232 shares in the last quarter.

BrightSpring Health Services Stock Performance

BTSG opened at $61.29 on Tuesday. The company has a market cap of $12.13 billion, a PE ratio of 36.92, a price-to-earnings-growth ratio of 0.79 and a beta of 1.87. The stock has a 50-day moving average of $59.73 and a 200-day moving average of $59.66. BrightSpring Health Services, Inc. has a 52-week low of $29.60 and a 52-week high of $73.75. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.22 and a current ratio of 1.59.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The company reported $0.45 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.05. BrightSpring Health Services had a return on equity of 16.73% and a net margin of 2.55%. The business had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same quarter in the prior year, the firm posted $0.22 EPS. The firm's revenue for the quarter was up 23.0% on a year-over-year basis. As a group, equities research analysts forecast that BrightSpring Health Services, Inc. will post 1.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Weiss Ratings lowered BrightSpring Health Services from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday. Zacks Research downgraded BrightSpring Health Services from a "strong-buy" rating to a "hold" rating in a report on Friday, October 2nd. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $70.00 price objective on shares of BrightSpring Health Services in a report on Monday, August 3rd. Wall Street Zen lowered shares of BrightSpring Health Services from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 23rd. Finally, Guggenheim assumed coverage on shares of BrightSpring Health Services in a research note on Monday, July 13th. They issued a "buy" rating and a $81.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $70.71.

BrightSpring Health Services Profile

BrightSpring Health Services NASDAQ: BTSG is a Louisville, Kentucky-based provider of home- and community-based health services and pharmacy services. The company focuses on supporting individuals with complex or chronic care needs, including older adults and people with disabilities, through care delivered in homes, communities and other non-hospital settings.

Its services include home health, hospice, personal care, behavioral health, primary care, rehabilitation and community living programs.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.