California State Teachers Retirement System Buys 9,055 Shares of BrightSpring Health Services, Inc. $BTSG

Key Points

• California State Teachers Retirement System increased its BrightSpring Health Services position by 5.7%, buying 9,055 shares to own 167,202 shares valued at approximately $11.7 million. Several other major institutions also initiated or significantly expanded positions.
• Analysts remain bullish on BTSG, with an overall “Buy” consensus and an average price target of $70.71; recent targets range as high as $80.
• BrightSpring reported quarterly EPS of $0.45, beating estimates of $0.40, while revenue rose 23% year over year to $3.87 billion. The stock recently traded at $58.80, down 2.5% for the session.

California State Teachers Retirement System grew its position in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 5.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 167,202 shares of the company's stock after acquiring an additional 9,055 shares during the quarter. California State Teachers Retirement System owned 0.08% of BrightSpring Health Services worth $11,660,667 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. The Manufacturers Life Insurance Company bought a new position in BrightSpring Health Services in the 2nd quarter valued at approximately $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 stake in BrightSpring Health Services during the second quarter worth about $118,162,000. Brown Advisory Inc. increased its holdings in BrightSpring Health Services by 170.6% during the 4th quarter. Brown Advisory Inc. now owns 1,949,402 shares of the company's stock worth $73,005,000 after purchasing an additional 1,229,113 shares during the period. Finally, Alta Fox Capital Management LLC boosted its stake in BrightSpring Health Services by 168.7% during the 4th quarter. Alta Fox Capital Management LLC now owns 1,237,500 shares of the company's stock worth $46,344,000 after purchasing an additional 776,975 shares during the period.

Analyst Ratings Changes

Several analysts have recently weighed in on BTSG shares. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $70.00 target price on shares of BrightSpring Health Services in a research note on Monday, August 3rd. Weiss Ratings restated a "buy (b-)" rating on shares of BrightSpring Health Services in a report on Friday, July 31st. Wells Fargo & Company increased their price target on shares of BrightSpring Health Services from $61.00 to $78.00 and gave the stock an "overweight" rating in a research report on Monday, July 13th. The Goldman Sachs Group initiated coverage on shares of BrightSpring Health Services in a report on Monday, June 8th. They set a "buy" rating and a $71.00 price objective on the stock. Finally, Morgan Stanley raised 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. Two analysts have rated the stock with a Strong Buy rating and eighteen have assigned a Buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $70.71.

BrightSpring Health Services Stock Down 2.5%

BrightSpring Health Services stock traded down $1.50 during midday trading on Tuesday, reaching $58.80. The company's stock had a trading volume of 633,722 shares, compared to its average volume of 2,926,770. The company has a market cap of $11.63 billion, a P/E ratio of 35.42, a P/E/G ratio of 0.69 and a beta of 1.84. The company has a quick ratio of 1.22, a current ratio of 1.59 and a debt-to-equity ratio of 1.06. The business has a 50-day simple moving average of $64.00 and a 200-day simple moving average of $56.50. BrightSpring Health Services, Inc. has a fifty-two week low of $26.28 and a fifty-two week high of $73.75.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The company reported $0.45 earnings per share (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 firm had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.66 billion. The firm's quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.22 earnings per share. On average, research analysts expect that BrightSpring Health Services, Inc. will post 1.82 earnings per share for the current fiscal year.

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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