BrightSpring Health Services, Inc. $BTSG Shares Bought by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its BrightSpring Health Services stake by 7,273.3% in the second quarter, purchasing 11.5 million additional shares. It ended the period with 11.66 million shares, representing a 5.89% ownership stake valued at approximately $813.2 million.
• BrightSpring reported quarterly earnings of $0.45 per share, exceeding the $0.40 consensus estimate, while revenue rose 23% year over year to $3.87 billion. Analysts expect full-year earnings of $1.82 per share.
• Wall Street maintains a favorable outlook, with the stock carrying a consensus “Buy” rating and an average price target of $70.71; recent targets range as high as $85.00.

California State Teachers Retirement System grew its stake in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 7,273.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,660,667 shares of the company's stock after buying an additional 11,502,520 shares during the period. California State Teachers Retirement System owned 5.89% of BrightSpring Health Services worth $813,215,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. State of Wyoming boosted its holdings in shares of BrightSpring Health Services by 4.5% in the first quarter. State of Wyoming now owns 7,776 shares of the company's stock valued at $331,000 after acquiring an additional 336 shares during the period. Allworth Financial LP acquired a new position in shares of BrightSpring Health Services in the 2nd quarter valued at $28,000. EverSource Wealth Advisors LLC increased its holdings in shares of BrightSpring Health Services by 17.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,826 shares of the company's stock valued at $143,000 after acquiring an additional 565 shares during the period. Moran Wealth Management LLC raised its position in BrightSpring Health Services by 9.0% in the 1st quarter. Moran Wealth Management LLC now owns 6,925 shares of the company's stock valued at $295,000 after purchasing an additional 572 shares during the last quarter. Finally, GHP Investment Advisors Inc. purchased a new stake in BrightSpring Health Services in the 1st quarter valued at $31,000.

BrightSpring Health Services Stock Performance

NASDAQ:BTSG opened at $58.73 on Monday. The company has a current ratio of 1.59, a quick ratio of 1.22 and a debt-to-equity ratio of 1.06. The firm has a 50-day moving average price of $64.21 and a two-hundred day moving average price of $56.36. BrightSpring Health Services, Inc. has a twelve month low of $25.93 and a twelve month high of $73.75. The company has a market capitalization of $11.62 billion, a P/E ratio of 35.38, a price-to-earnings-growth ratio of 0.69 and a beta of 1.84.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $3.66 billion. During the same period in the prior year, the business earned $0.22 earnings per share. The business's revenue was up 23.0% on a year-over-year basis. As a group, research analysts expect that BrightSpring Health Services, Inc. will post 1.82 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on BTSG shares. Morgan Stanley boosted their price target on BrightSpring Health Services from $71.00 to $80.00 and gave the company an "overweight" rating in a research report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $70.00 target price on shares of BrightSpring Health Services in a research note on Monday, August 3rd. Wall Street Zen lowered BrightSpring Health Services from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 23rd. UBS Group upped their price target on BrightSpring Health Services from $63.00 to $85.00 and gave the stock a "buy" rating in a research note on Wednesday, July 8th. Finally, Zacks Research raised BrightSpring Health Services from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 4th. Two research analysts have rated the stock with a Strong Buy rating and eighteen have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $70.71.

BrightSpring Health Services Profile

BrightSpring Health Services, Inc is a provider of home- and community-based health services and pharmacy services in the United States. The company supports individuals who require assistance with daily living, clinical care, rehabilitation, behavioral health services, or other long-term and post-acute care.

Its businesses include home health, hospice, personal care, residential and community living services, behavioral health programs, primary care, and rehabilitation. Through its PharMerica pharmacy business, BrightSpring provides institutional and specialty pharmacy services, including medication dispensing and related clinical support for long-term care facilities and other healthcare settings.

BrightSpring serves patients and clients across the United States through a network of local operations and care professionals.

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