BrightSpring Health Services, Inc. $BTSG Stock Holdings Lifted by Swiss National Bank

Key Points

• Swiss National Bank increased its BrightSpring Health Services stake by 47.9% in the first quarter, ending with 284,100 shares valued at about $12.1 million.
• Analysts remain bullish on BTSG, with most firms rating it a Buy or equivalent and an average price target of $70.12; several recently raised their targets to as high as $80.
• BrightSpring reported strong quarterly results, posting EPS of $0.39 versus $0.29 expected and revenue of $3.61 billion, up 25.6% year over year, while the stock traded near its 52-week high.

Swiss National Bank grew its position in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 47.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 284,100 shares of the company's stock after purchasing an additional 92,000 shares during the period. Swiss National Bank owned about 0.15% of BrightSpring Health Services worth $12,106,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BTSG. NBC Securities Inc. bought a new stake in shares of BrightSpring Health Services in the 4th quarter valued at approximately $29,000. Salomon & Ludwin LLC bought a new position in BrightSpring Health Services during the fourth quarter valued at approximately $30,000. GHP Investment Advisors Inc. bought a new position in BrightSpring Health Services during the first quarter valued at approximately $31,000. EverSource Wealth Advisors LLC acquired a new stake in BrightSpring Health Services in the second quarter valued at approximately $43,000. Finally, Farther Finance Advisors LLC lifted its stake in BrightSpring Health Services by 112.8% in the fourth quarter. Farther Finance Advisors LLC now owns 1,717 shares of the company's stock valued at $64,000 after acquiring an additional 910 shares during the last quarter.

Analyst Ratings Changes

Several research firms have commented on BTSG. Morgan Stanley boosted their target price on shares of BrightSpring Health Services from $71.00 to $80.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 14th. Raymond James Financial started coverage on shares of BrightSpring Health Services in a research note on Thursday, July 9th. They issued an "outperform" rating and a $80.00 price objective for the company. Bank of America upped their price objective on shares of BrightSpring Health Services from $66.00 to $77.00 and gave the stock a "buy" rating in a report on Thursday, July 2nd. The Goldman Sachs Group initiated coverage on shares of BrightSpring Health Services in a research report on Monday, June 8th. They set a "buy" rating and a $71.00 target price on the stock. Finally, Mizuho raised their target price on BrightSpring Health Services from $52.00 to $61.00 and gave the company an "outperform" rating in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $70.12.

BrightSpring Health Services Trading Up 4.4%

BrightSpring Health Services stock opened at $72.91 on Friday. BrightSpring Health Services, Inc. has a 52 week low of $19.01 and a 52 week high of $73.40. The firm has a market capitalization of $14.38 billion, a PE ratio of 51.71, a PEG ratio of 0.92 and a beta of 1.79. The business's 50-day simple moving average is $65.20 and its 200-day simple moving average is $50.81. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.38 and a current ratio of 1.74.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last announced its quarterly earnings data on Friday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.10. The business had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.39 billion. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. BrightSpring Health Services's quarterly revenue was up 25.6% on a year-over-year basis. During the same quarter last year, the company posted $0.14 earnings per share. Equities research analysts forecast that BrightSpring Health Services, Inc. will post 1.7 earnings per share for the current year.

Insider Activity at BrightSpring Health Services

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

About BrightSpring Health Services

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.

Want to see what other hedge funds are holding BTSG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report).

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.