Thrivent Financial for Lutherans Makes New Investment in BrightSpring Health Services, Inc. $BTSG

Key Points

• Thrivent Financial for Lutherans opened a new position in BrightSpring Health Services during the fourth quarter, buying 78,073 shares valued at about $2.9 million.
• Several major institutional investors also increased their stakes, including Vanguard, Invesco, and AllianceBernstein, showing continued broader interest in the stock.
• Analysts remain bullish on BTSG, with multiple firms raising price targets and the consensus rating staying at Buy; the average price target is now $57.

Thrivent Financial for Lutherans purchased a new position in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 78,073 shares of the company's stock, valued at approximately $2,924,000.

A number of other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in BrightSpring Health Services by 30.5% during the fourth quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company's stock worth $469,385,000 after purchasing an additional 2,928,953 shares in the last quarter. Invesco Ltd. lifted its stake in BrightSpring Health Services by 2.5% during the third 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 in the last quarter. Alliancebernstein L.P. lifted its stake in BrightSpring Health Services by 12.1% during the second 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 in the last quarter. The Manufacturers Life Insurance Company lifted its stake in 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 worth $53,705,000 after purchasing an additional 2,056,920 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in BrightSpring Health Services by 123.9% during the third quarter. Dimensional Fund Advisors LP now owns 2,096,949 shares of the company's stock worth $61,966,000 after purchasing an additional 1,160,500 shares in the last quarter.

Analysts Set New Price Targets

BTSG has been the topic of a number of recent research reports. Morgan Stanley upped their price objective on BrightSpring Health Services from $48.00 to $62.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. Wells Fargo & Company upped their price objective on BrightSpring Health Services from $50.00 to $61.00 and gave the stock an "overweight" rating in a research report on Monday, May 4th. UBS Group upped their price objective on BrightSpring Health Services from $53.00 to $55.00 and gave the stock a "buy" rating in a research report on Wednesday, March 18th. TD Cowen upped their price objective on BrightSpring Health Services from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Monday, May 4th. Finally, BMO Capital Markets set a $70.00 price objective on BrightSpring Health Services in a research report on Thursday. Two research analysts have rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $57.00.

Insiders Place Their Bets

In other BrightSpring Health Services news, insider Jon B. Rousseau sold 220,000 shares of BrightSpring Health Services stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total transaction of $9,053,000.00. Following the transaction, the insider owned 1,023,880 shares of the company's stock, valued at $42,132,662. The trade was a 17.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Lisa A. Nalley sold 30,000 shares of BrightSpring Health Services stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total value of $1,234,500.00. Following the transaction, the insider directly owned 110,594 shares in the company, valued at approximately $4,550,943.10. This trade represents a 21.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 285,000 shares of company stock valued at $11,727,750. 2.80% of the stock is currently owned by insiders.

BrightSpring Health Services Stock Performance

NASDAQ:BTSG opened at $58.50 on Monday. The firm has a market capitalization of $11.34 billion, a PE ratio of 41.49, a price-to-earnings-growth ratio of 0.77 and a beta of 1.71. The business's fifty day moving average price is $47.64 and its 200 day moving average price is $41.17. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.74 and a quick ratio of 1.38. BrightSpring Health Services, Inc. has a 12 month low of $19.01 and a 12 month high of $59.65.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last posted its earnings results on Friday, May 1st. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.29 by $0.10. The firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.39 billion. BrightSpring Health Services had a return on equity of 14.63% and a net margin of 2.27%.BrightSpring Health Services's revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.14 earnings per share. On average, sell-side analysts anticipate that BrightSpring Health Services, Inc. will post 1.64 earnings per share for the current fiscal year.

BrightSpring Health Services 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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