VIRGINIA RETIREMENT SYSTEMS ET Al Acquires Shares of 53,050 BrightSpring Health Services, Inc. $BTSG

Key Points

• Virginia Retirement Systems acquired 53,050 BrightSpring Health Services shares in the second quarter, valued at approximately $3.7 million. Other institutional investors, including UBS and Prudential, also increased or initiated positions.
• Analysts maintain a bullish outlook, with a consensus “Buy” rating and an average price target of $70.71; recent targets range from $70 to $90.
• BrightSpring reported quarterly EPS of $0.45, beating estimates of $0.40, while revenue rose 23% year over year to $3.87 billion. The stock opened at $61.99, compared with a 12-month range of $25.92 to $73.75.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 53,050 shares of the company's stock, valued at approximately $3,700,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. AQR Capital Management LLC acquired a new stake in shares of BrightSpring Health Services in the 1st quarter valued at $276,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of BrightSpring Health Services by 5.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,429 shares of the company's stock valued at $587,000 after acquiring an additional 1,780 shares during the last quarter. Millennium Management LLC increased its holdings in shares of BrightSpring Health Services by 0.3% during the 1st quarter. Millennium Management LLC now owns 577,885 shares of the company's stock valued at $10,454,000 after acquiring an additional 1,967 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of BrightSpring Health Services by 11.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,280 shares of the company's stock valued at $2,664,000 after acquiring an additional 14,586 shares in the last quarter. Finally, Prudential Financial Inc. bought a new position in shares of BrightSpring Health Services in the 2nd quarter valued at approximately $351,000.

Analyst Ratings Changes

Several research firms recently weighed in on BTSG. BMO Capital Markets set a $70.00 target price on BrightSpring Health Services in a report on Thursday, May 21st. KeyCorp reissued an "overweight" rating on shares of BrightSpring Health Services in a research report on Monday, August 3rd. Raymond James Financial initiated coverage on shares of BrightSpring Health Services in a research note on Thursday, July 9th. They issued an "outperform" rating and a $80.00 price objective for the company. BTIG Research reaffirmed a "buy" rating and set a $90.00 price objective on shares of BrightSpring Health Services in a report on Thursday, August 13th. Finally, UBS Group raised their target price on shares of BrightSpring Health Services from $63.00 to $85.00 and gave the company a "buy" rating in a research note on Wednesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating and eighteen have issued a Buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $70.71.

BrightSpring Health Services Price Performance

NASDAQ BTSG opened at $61.99 on Thursday. BrightSpring Health Services, Inc. has a twelve month low of $25.92 and a twelve month high of $73.75. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.22 and a current ratio of 1.59. The stock has a market capitalization of $12.27 billion, a PE ratio of 37.34, a P/E/G ratio of 0.73 and a beta of 1.84. The stock has a 50-day simple moving average of $64.64 and a 200 day simple moving average of $56.11.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last released its earnings results on Friday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.05. The firm had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.66 billion. BrightSpring Health Services had a return on equity of 16.73% and a net margin of 2.55%.The company's revenue was up 23.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.22 EPS. Research analysts anticipate that BrightSpring Health Services, Inc. will post 1.82 EPS for the current year.

About BrightSpring Health Services

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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