Advisors Preferred LLC Acquires New Stake in BrightSpring Health Services, Inc. $BTSG

Key Points

• Advisors Preferred LLC disclosed a new first-quarter stake in BrightSpring Health Services, buying 80,254 shares valued at about $3.42 million.
• BrightSpring reported strong quarterly results, with EPS of $0.39 beating estimates and revenue of $3.61 billion rising 25.6% year over year.
• Analysts remain bullish on the stock: several firms raised price targets, and the consensus rating is Buy with an average target of $70.12.

Advisors Preferred LLC acquired a new position in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 80,254 shares of the company's stock, valued at approximately $3,420,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC purchased a new position in BrightSpring Health Services in the 1st quarter valued at about $224,000. Maryland State Retirement & Pension System grew its holdings in shares of BrightSpring Health Services by 15.9% during the first quarter. Maryland State Retirement & Pension System now owns 19,292 shares of the company's stock worth $822,000 after buying an additional 2,644 shares in the last quarter. Archer Investment Corp acquired a new position in shares of BrightSpring Health Services in the first quarter valued at approximately $280,000. Principal Financial Group Inc. raised its position in shares of BrightSpring Health Services by 9.8% in the first quarter. Principal Financial Group Inc. now owns 804,375 shares of the company's stock valued at $34,274,000 after buying an additional 71,464 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in shares of BrightSpring Health Services by 22.4% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 32,800 shares of the company's stock valued at $1,398,000 after buying an additional 6,000 shares during the period.

BrightSpring Health Services Stock Up 0.0%

Shares of NASDAQ BTSG opened at $69.67 on Wednesday. BrightSpring Health Services, Inc. has a 52-week low of $19.01 and a 52-week high of $72.22. The firm has a fifty day moving average of $62.83 and a 200-day moving average of $49.06. The stock has a market capitalization of $13.75 billion, a PE ratio of 49.41, a P/E/G ratio of 0.94 and a beta of 1.79. The company has a quick ratio of 1.38, a current ratio of 1.74 and a debt-to-equity ratio of 1.24.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last released its quarterly earnings data on Friday, May 1st. The company reported $0.39 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.10. The business 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 revenue for the quarter was up 25.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.14 EPS. On average, analysts anticipate that BrightSpring Health Services, Inc. will post 1.68 EPS for the current year.

Insider Transactions at BrightSpring Health Services

In other BrightSpring Health Services news, insider Jon B. Rousseau sold 130,000 shares of the business's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $58.75, for a total transaction of $7,637,500.00. Following the completion of the sale, the insider directly owned 1,194,503 shares in the company, valued at $70,177,051.25. The trade was a 9.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lisa A. Nalley sold 35,000 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $58.75, for a total transaction of $2,056,250.00. Following the completion of the sale, the insider directly owned 131,948 shares of the company's stock, valued at $7,751,945. The trade was a 20.96% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

BTSG has been the topic of a number of analyst reports. TD Cowen raised 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. Mizuho increased their price target on BrightSpring Health Services from $52.00 to $61.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 5th. Guggenheim initiated coverage on BrightSpring Health Services in a report on Monday. They set a "buy" rating and a $81.00 price objective on the stock. Morgan Stanley lifted their price objective on BrightSpring Health Services from $71.00 to $80.00 and gave the company an "overweight" rating in a research report on Tuesday. Finally, Stephens upped their target price on BrightSpring Health Services from $53.00 to $64.00 and gave the company an "overweight" rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $70.12.

BrightSpring Health Services Company 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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