Commonwealth of Pennsylvania Public School Empls Retrmt SYS Makes New Investment in BrightSpring Health Services, Inc. $BTSG

Key Points

• Institutional buying continued: Commonwealth of Pennsylvania Public School Empls Retrmt SYS opened a new position in BrightSpring Health Services, buying 28,129 shares worth about $1.05 million. Several other large investors also increased their stakes in the company.
• Analysts turned more bullish: Multiple firms raised price targets and reiterated buy ratings, including Wells Fargo, TD Cowen, UBS, and Stephens. BrightSpring now has a consensus Buy rating and an average target price of $58.53.
• Strong results and insider selling: BrightSpring reported better-than-expected quarterly EPS and revenue, with revenue up 25.6% year over year. At the same time, insiders Lisa A. Nalley and Jon B. Rousseau sold shares in June.

Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 28,129 shares of the company's stock, valued at approximately $1,053,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in BrightSpring Health Services by 30.5% in the fourth quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company's stock valued at $469,385,000 after acquiring an additional 2,928,953 shares in the last quarter. Invesco Ltd. lifted its position in shares of BrightSpring Health Services by 2.5% in the 3rd quarter. Invesco Ltd. now owns 9,347,125 shares of the company's stock worth $276,301,000 after purchasing an additional 227,717 shares during the period. Alliancebernstein L.P. lifted its position in shares of BrightSpring Health Services by 12.1% in the 2nd quarter. Alliancebernstein L.P. now owns 5,450,085 shares of the company's stock worth $128,568,000 after purchasing an additional 588,642 shares during the period. Geode Capital Management LLC boosted its stake in shares of BrightSpring Health Services by 16.4% during the 4th quarter. Geode Capital Management LLC now owns 2,746,011 shares of the company's stock valued at $102,855,000 after purchasing an additional 386,186 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of BrightSpring Health Services by 936.4% during the second quarter. The Manufacturers Life Insurance Company now owns 2,276,583 shares of the company's stock valued at $53,705,000 after buying an additional 2,056,920 shares during the period.

Analyst Upgrades and Downgrades

Several analysts have weighed in on BTSG shares. Wells Fargo & Company lifted their price objective on BrightSpring Health Services from $50.00 to $61.00 and gave the company an "overweight" rating in a research report on Monday, May 4th. Weiss Ratings raised BrightSpring Health Services from a "hold (c)" rating to a "buy (b-)" rating in a research report on Monday, May 4th. TD Cowen raised their target price on BrightSpring Health Services from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Monday, May 4th. UBS Group lifted their price target on BrightSpring Health Services from $53.00 to $55.00 and gave the company a "buy" rating in a research report on Wednesday, March 18th. Finally, Stephens upped their price target on BrightSpring Health Services from $53.00 to $64.00 and gave the stock an "overweight" rating in a research note on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the stock. According to MarketBeat, BrightSpring Health Services currently has an average rating of "Buy" and a consensus target price of $58.53.

BrightSpring Health Services Price Performance

Shares of NASDAQ BTSG opened at $59.22 on Tuesday. The company has a 50 day simple moving average of $51.58 and a two-hundred day simple moving average of $43.27. BrightSpring Health Services, Inc. has a fifty-two week low of $19.01 and a fifty-two week high of $62.11. The company has a market capitalization of $11.68 billion, a price-to-earnings ratio of 42.00, a P/E/G ratio of 0.74 and a beta of 1.87. 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 issued its quarterly earnings results on Friday, May 1st. The company reported $0.39 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.10. The firm had revenue of $3.61 billion for the quarter, compared to analysts' expectations of $3.39 billion. BrightSpring Health Services had a return on equity of 14.63% and a net margin of 2.27%.The business's revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.14 EPS. Analysts expect that BrightSpring Health Services, Inc. will post 1.67 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Lisa A. Nalley sold 35,000 shares of the firm'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 $2,056,250.00. Following the completion of the transaction, the insider directly owned 131,948 shares in the company, valued at $7,751,945. This trade represents a 20.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jon B. Rousseau sold 130,000 shares of BrightSpring Health Services stock in a transaction dated 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 completion of the transaction, the insider directly owned 1,194,503 shares of the company's stock, valued at approximately $70,177,051.25. This represents a 9.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.80% of the stock is currently owned by insiders.

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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