New York State Common Retirement Fund Grows Stock Holdings in BrightSpring Health Services, Inc. (NASDAQ:BTSG)

Key Points

• The New York State Common Retirement Fund increased its stake in BrightSpring Health Services by 131.8% during the first quarter, holding 37,918 shares valued at approximately $686,000.
• Analysts have raised their price targets for BrightSpring Health Services, with Wells Fargo increasing its target from $25.00 to $27.00 and Mizuho setting a target at $26.00, reflecting a consensus rating of "Moderate Buy."
• Insider transactions saw major shareholders, including Jon B. Rousseau and Phoenix Aggregator L.P. Kkr, selling substantial portions of their stakes, contributing to a total of 15.9 million shares sold in the last ninety days.

New York State Common Retirement Fund boosted its holdings in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 131.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,918 shares of the company's stock after purchasing an additional 21,563 shares during the quarter. New York State Common Retirement Fund's holdings in BrightSpring Health Services were worth $686,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Quarry LP purchased a new stake in shares of BrightSpring Health Services in the fourth quarter valued at $29,000. Highland Capital Management LLC purchased a new position in BrightSpring Health Services in the 1st quarter worth about $181,000. Envestnet Asset Management Inc. purchased a new position in BrightSpring Health Services in the 4th quarter worth about $188,000. KLP Kapitalforvaltning AS purchased a new position in BrightSpring Health Services in the 4th quarter worth about $206,000. Finally, Teacher Retirement System of Texas purchased a new position in BrightSpring Health Services in the 4th quarter worth about $234,000.

Analysts Set New Price Targets

Several research analysts recently commented on BTSG shares. Wells Fargo & Company raised their price target on shares of BrightSpring Health Services from $25.00 to $27.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 13th. Wall Street Zen downgraded shares of BrightSpring Health Services from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Mizuho set a $26.00 price target on shares of BrightSpring Health Services in a research note on Monday, May 5th. TD Cowen started coverage on shares of BrightSpring Health Services in a research note on Monday, June 23rd. They issued a "buy" rating and a $37.00 price target on the stock. Finally, Morgan Stanley raised their price target on shares of BrightSpring Health Services from $20.00 to $25.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.90.

BrightSpring Health Services Trading Down 0.6%

NASDAQ BTSG opened at $20.53 on Friday. The company's 50-day simple moving average is $22.20 and its two-hundred day simple moving average is $20.37. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.37 and a current ratio of 1.73. BrightSpring Health Services, Inc. has a one year low of $10.15 and a one year high of $25.57. The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of 73.32 and a beta of 2.30.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.09 by $0.10. BrightSpring Health Services had a net margin of 0.49% and a return on equity of 7.76%. The firm had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter in the previous year, the firm earned $0.12 EPS. The company's quarterly revenue was up 25.9% compared to the same quarter last year. Equities analysts forecast that BrightSpring Health Services, Inc. will post 0.59 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Jon B. Rousseau sold 531,840 shares of BrightSpring Health Services stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $21.75, for a total value of $11,567,520.00. Following the transaction, the insider owned 1,184,133 shares of the company's stock, valued at $25,754,892.75. The trade was a 30.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Phoenix Aggregator L.P. Kkr sold 13,288,101 shares of BrightSpring Health Services stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $21.15, for a total transaction of $281,043,336.15. Following the completion of the transaction, the insider directly owned 79,671,883 shares in the company, valued at approximately $1,685,060,325.45. The trade was a 14.29% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,919,941 shares of company stock worth $337,025,856. Insiders own 3.40% of the company's stock.

BrightSpring Health Services Company Profile

BrightSpring Health Services, Inc operates a home and community-based healthcare services platform in the United States. The company's platform focuses on delivering pharmacy and provider services, including clinical and supportive care in home and community settings to Medicare, Medicaid, and insured populations.

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