BrightSpring Health Services, Inc. (NASDAQ:BTSG) Shares Acquired by New York State Common Retirement Fund

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 grew its position in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 131.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,918 shares of the company's stock after buying an additional 21,563 shares during the quarter. New York State Common Retirement Fund's holdings in BrightSpring Health Services were worth $686,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in BTSG. Teacher Retirement System of Texas purchased a new stake in shares of BrightSpring Health Services in the 4th quarter worth $234,000. American Century Companies Inc. lifted its holdings in shares of BrightSpring Health Services by 8.8% in the 4th quarter. American Century Companies Inc. now owns 92,893 shares of the company's stock worth $1,582,000 after buying an additional 7,505 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of BrightSpring Health Services in the 4th quarter worth $206,000. Vanguard Group Inc. lifted its holdings in shares of BrightSpring Health Services by 5.3% in the 4th quarter. Vanguard Group Inc. now owns 5,325,093 shares of the company's stock worth $90,686,000 after buying an additional 268,132 shares during the period. Finally, Norges Bank purchased a new stake in shares of BrightSpring Health Services in the 4th quarter worth $26,065,000.

BrightSpring Health Services Stock Up 0.0%

NASDAQ:BTSG traded up $0.01 during mid-day trading on Tuesday, hitting $20.49. 213,210 shares of the company's stock traded hands, compared to its average volume of 1,972,486. The company has a fifty day moving average of $22.13 and a 200 day moving average of $20.44. BrightSpring Health Services, Inc. has a twelve month low of $10.15 and a twelve month high of $25.57. The company has a market capitalization of $3.60 billion, a P/E ratio of 73.16 and a beta of 2.30. 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 (NASDAQ:BTSG - Get Free Report) last announced its earnings results on Friday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.10. BrightSpring Health Services had a return on equity of 7.76% and a net margin of 0.49%. The company had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same period in the prior year, the company posted $0.12 EPS. The firm's quarterly revenue was up 25.9% compared to the same quarter last year. On average, analysts forecast that BrightSpring Health Services, Inc. will post 0.59 EPS for the current year.

Analysts Set New Price Targets

BTSG has been the subject of a number of analyst reports. Wall Street Zen cut BrightSpring Health Services from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Mizuho set a $26.00 price objective on BrightSpring Health Services in a research note on Monday, May 5th. Morgan Stanley upped their price objective on BrightSpring Health Services from $20.00 to $25.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. TD Cowen initiated coverage on BrightSpring Health Services in a research note on Monday, June 23rd. They set a "buy" rating and a $37.00 price objective for the company. Finally, Wells Fargo & Company upped their price objective on BrightSpring Health Services from $25.00 to $27.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 13th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.90.

Insider Activity

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

BrightSpring Health Services 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.