Canada Pension Plan Investment Board Purchases Shares of 51,300 BrightSpring Health Services, Inc. $BTSG

Key Points

• Canada Pension Plan Investment Board acquired 51,300 BrightSpring Health Services shares worth approximately $3.58 million, joining several other institutions that recently initiated or increased positions.
• BrightSpring reported quarterly EPS of $0.45, beating estimates of $0.40, while revenue rose 23% year over year to $3.87 billion. Analysts expect full-year EPS of $1.82.
• Analysts maintain a broadly positive view, with the stock carrying an average “Buy” rating and a $70.71 price target; recent targets range from $78 to $85. Shares recently opened at $59.13, below their 12-month high of $73.75.

Canada Pension Plan Investment Board purchased a new position in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 51,300 shares of the company's stock, valued at approximately $3,578,000.

Other large investors have also recently made changes to their positions in the company. AQR Capital Management LLC acquired a new stake in BrightSpring Health Services during the 1st quarter worth about $276,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of BrightSpring Health Services by 5.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,429 shares of the company's stock worth $587,000 after purchasing an additional 1,780 shares during the period. Millennium Management LLC boosted its position in BrightSpring Health Services by 0.3% in the first quarter. Millennium Management LLC now owns 577,885 shares of the company's stock valued at $10,454,000 after buying an additional 1,967 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in BrightSpring Health Services by 11.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,280 shares of the company's stock worth $2,664,000 after buying an additional 14,586 shares during the period. Finally, Prudential Financial Inc. acquired a new stake in BrightSpring Health Services during the 2nd quarter valued at approximately $351,000.

BrightSpring Health Services Price Performance

Shares of NASDAQ:BTSG opened at $59.13 on Monday. The company has a market capitalization of $11.70 billion, a price-to-earnings ratio of 35.62, a PEG ratio of 0.71 and a beta of 1.88. BrightSpring Health Services, Inc. has a 12-month low of $22.86 and a 12-month high of $73.75. The business has a 50-day moving average price of $65.91 and a 200 day moving average price of $54.92. The company has a current ratio of 1.59, a quick ratio of 1.22 and a debt-to-equity ratio of 1.06.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last released 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. The business had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.66 billion. BrightSpring Health Services had a net margin of 2.55% and a return on equity of 16.73%. The business's revenue was up 23.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.22 EPS. Sell-side analysts expect that BrightSpring Health Services, Inc. will post 1.82 EPS for the current year.

Insider Buying and Selling at BrightSpring Health Services

In related news, insider Jon B. Rousseau sold 130,000 shares of the business's stock in a transaction 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 completion of the transaction, the insider directly owned 1,194,503 shares of the company's stock, valued at $70,177,051.25. The trade was a 9.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Lisa A. Nalley sold 35,000 shares of the business'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 transaction of $2,056,250.00. Following the transaction, the insider owned 131,948 shares of the company's stock, valued at $7,751,945. This trade represents a 20.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 2.80% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Guggenheim assumed coverage on shares of BrightSpring Health Services in a report on Monday, July 13th. They set a "buy" rating and a $81.00 target price for the company. TD Cowen lifted their price objective 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. Wells Fargo & Company raised their target price on BrightSpring Health Services from $61.00 to $78.00 and gave the stock an "overweight" rating in a report on Monday, July 13th. Raymond James Financial initiated coverage on BrightSpring Health Services in a research report on Thursday, July 9th. They issued an "outperform" rating and a $80.00 price objective on the stock. Finally, UBS Group increased their price target on shares of BrightSpring Health Services from $63.00 to $85.00 and gave the stock a "buy" rating in a report on Wednesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating and eighteen have assigned a Buy rating to the company. Based on data from MarketBeat, BrightSpring Health Services presently has an average rating of "Buy" and an average price target of $70.71.

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.

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