California State Teachers Retirement System Purchases 65,542 Shares of BrightSpring Health Services, Inc. $BTSG

Key Points

• California State Teachers Retirement System increased its BrightSpring Health Services stake by 70.8%, purchasing 65,542 shares to hold 158,147 shares valued at approximately $6.7 million. Several other major institutions, including Vanguard, State Street and Invesco, also expanded their positions.
• BrightSpring reported quarterly revenue of $3.87 billion and earnings of $0.45 per share, beating analyst expectations of $3.66 billion and $0.40 per share, respectively. Revenue rose 23% year over year.
• Analysts remain broadly bullish, with a consensus “Buy” rating and an average price target of $70.71; recent targets range as high as $90. The stock opened at $63.02, while insiders recently sold shares.

California State Teachers Retirement System raised its position in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 70.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 158,147 shares of the company's stock after purchasing an additional 65,542 shares during the period. California State Teachers Retirement System owned about 0.08% of BrightSpring Health Services worth $6,739,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of BrightSpring Health Services by 30.5% in the 4th quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company's stock worth $469,385,000 after purchasing an additional 2,928,953 shares during the period. The Manufacturers Life Insurance Company raised its stake in BrightSpring Health Services by 936.4% in the second quarter. The Manufacturers Life Insurance Company now owns 2,276,583 shares of the company's stock worth $53,705,000 after buying an additional 2,056,920 shares in the last quarter. State Street Corp lifted its holdings in BrightSpring Health Services by 99.5% during the fourth quarter. State Street Corp now owns 4,033,149 shares of the company's stock worth $151,041,000 after buying an additional 2,011,095 shares during the period. Jane Street Group LLC boosted its position in BrightSpring Health Services by 855.4% during the 2nd quarter. Jane Street Group LLC now owns 2,076,730 shares of the company's stock valued at $48,990,000 after acquiring an additional 1,859,369 shares in the last quarter. Finally, Invesco Ltd. boosted its position in BrightSpring Health Services by 13.4% during the 4th quarter. Invesco Ltd. now owns 10,595,232 shares of the company's stock valued at $396,791,000 after acquiring an additional 1,248,107 shares in the last quarter.

BrightSpring Health Services Price Performance

Shares of NASDAQ BTSG opened at $63.02 on Thursday. BrightSpring Health Services, Inc. has a fifty-two week low of $19.51 and a fifty-two week high of $73.75. The company has a market cap of $12.47 billion, a PE ratio of 37.96, a P/E/G ratio of 0.77 and a beta of 1.88. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.22 and a current ratio of 1.59. The business has a 50-day simple moving average of $66.51 and a two-hundred day simple moving average of $52.44.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last released its earnings results on Friday, July 31st. The company reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.40 by $0.05. BrightSpring Health Services had a net margin of 2.55% and a return on equity of 16.73%. The company had revenue of $3.87 billion during the quarter, compared to analysts' expectations of $3.66 billion. During the same period last year, the business earned $0.22 EPS. BrightSpring Health Services's revenue for the quarter was up 23.0% on a year-over-year basis. As a group, equities analysts expect that BrightSpring Health Services, Inc. will post 1.78 EPS for the current fiscal year.

Insider Buying and Selling at BrightSpring Health Services

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

Analyst Ratings Changes

Several research firms have recently commented on BTSG. Wells Fargo & Company boosted their price target on BrightSpring Health Services from $61.00 to $78.00 and gave the stock an "overweight" rating in a research report on Monday, July 13th. TD Cowen lifted their target price on BrightSpring Health Services from $65.00 to $81.00 and gave the company a "buy" rating in a research note on Thursday, June 18th. Weiss Ratings reiterated a "buy (b-)" rating on shares of BrightSpring Health Services in a report on Friday, July 31st. BMO Capital Markets set a $70.00 price target on shares of BrightSpring Health Services in a research report on Thursday, May 21st. Finally, BTIG Research restated a "buy" rating and issued a $90.00 price target on shares of BrightSpring Health Services in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $70.71.

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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