Principal Financial Group Inc. Grows Position in BrightSpring Health Services, Inc. $BTSG

Key Points

• Principal Financial Group increased its stake in BrightSpring Health Services by 9.8% in the first quarter, owning 804,375 shares valued at about $34.3 million.
• Wall Street sentiment remains upbeat, with multiple firms issuing buy or outperform ratings and a consensus price target of $70.12; Raymond James started coverage with an outperform rating and an $80 target.
• BrightSpring reported strong quarterly results, beating earnings and revenue estimates with $0.39 EPS and $3.61 billion in revenue, while the stock traded near its 52-week high at $70.69.

Principal Financial Group Inc. boosted its holdings in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 9.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 804,375 shares of the company's stock after acquiring an additional 71,464 shares during the period. Principal Financial Group Inc. owned about 0.42% of BrightSpring Health Services worth $34,274,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in BTSG. NBC Securities Inc. bought a new stake in shares of BrightSpring Health Services in the 4th quarter valued at about $29,000. Salomon & Ludwin LLC bought a new position in shares of BrightSpring Health Services during the fourth quarter valued at approximately $30,000. GHP Investment Advisors Inc. purchased a new position in BrightSpring Health Services during the first quarter valued at approximately $31,000. EverSource Wealth Advisors LLC bought a new position in BrightSpring Health Services in the second quarter worth approximately $43,000. Finally, Farther Finance Advisors LLC raised its stake in BrightSpring Health Services by 112.8% in the fourth quarter. Farther Finance Advisors LLC now owns 1,717 shares of the company's stock worth $64,000 after buying an additional 910 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on BTSG shares. Raymond James Financial started coverage on BrightSpring Health Services in a research report on Thursday, July 9th. They set an "outperform" rating and a $80.00 target price on the stock. BTIG Research boosted their price target on BrightSpring Health Services from $65.00 to $90.00 and gave the stock a "buy" rating in a research report on Monday, June 22nd. Wall Street Zen cut BrightSpring Health Services from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 4th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $60.00 price objective on shares of BrightSpring Health Services in a research report on Monday, May 4th. Finally, Weiss Ratings upgraded BrightSpring Health Services from a "hold (c)" rating to a "buy (b-)" rating in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $70.12.

BrightSpring Health Services Price Performance

Shares of BTSG opened at $70.69 on Friday. The company has a 50 day moving average of $63.76 and a two-hundred day moving average of $49.64. The company has a quick ratio of 1.38, a current ratio of 1.74 and a debt-to-equity ratio of 1.24. BrightSpring Health Services, Inc. has a twelve month low of $19.01 and a twelve month high of $72.22. The company has a market cap of $13.95 billion, a price-to-earnings ratio of 50.14, a price-to-earnings-growth ratio of 0.89 and a beta of 1.79.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.10. BrightSpring Health Services had a return on equity of 14.63% and a net margin of 2.27%.The business had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same period in the prior year, the firm posted $0.14 earnings per share. The business's quarterly revenue was up 25.6% on a year-over-year basis. As a group, analysts predict that BrightSpring Health Services, Inc. will post 1.7 earnings per share for the current fiscal year.

Insider Buying and Selling at BrightSpring Health Services

In other BrightSpring Health Services news, insider Lisa A. Nalley sold 35,000 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $58.75, for a total value of $2,056,250.00. Following the completion of the sale, the insider directly owned 131,948 shares in the company, valued at approximately $7,751,945. This trade represents a 20.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jon B. Rousseau sold 130,000 shares of the firm's 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 sale, 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 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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