Voya Investment Management LLC Increases Stock Holdings in BrightSpring Health Services, Inc. $BTSG

Key Points

• Voya Investment Management LLC increased its holdings in BrightSpring Health Services by 9.0%, owning approximately 199,711 shares valued at $3.61 million after buying additional shares in the first quarter.
• BrightSpring Health Services reported a quarterly revenue of $3.15 billion and earnings per share of $0.22, surpassing analysts' expectations.
• Analysts have given BrightSpring Health Services mostly buy ratings, with price targets ranging from $27.50 to $37.00, reflecting confidence in the company's growth potential.

Voya Investment Management LLC boosted its holdings in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 9.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 199,711 shares of the company's stock after buying an additional 16,434 shares during the period. Voya Investment Management LLC owned 0.11% of BrightSpring Health Services worth $3,613,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in BTSG. GAMMA Investing LLC lifted its holdings in shares of BrightSpring Health Services by 2,526.5% during the 1st quarter. GAMMA Investing LLC now owns 14,472 shares of the company's stock worth $262,000 after acquiring an additional 13,921 shares during the period. Northern Trust Corp increased its position in BrightSpring Health Services by 5.8% during the first quarter. Northern Trust Corp now owns 566,623 shares of the company's stock worth $10,250,000 after purchasing an additional 31,289 shares during the last quarter. New York State Common Retirement Fund increased its position in BrightSpring Health Services by 131.8% during the first quarter. New York State Common Retirement Fund now owns 37,918 shares of the company's stock worth $686,000 after purchasing an additional 21,563 shares during the last quarter. Teacher Retirement System of Texas grew its stake in shares of BrightSpring Health Services by 6.8% during the 1st quarter. Teacher Retirement System of Texas now owns 14,650 shares of the company's stock valued at $265,000 after buying an additional 932 shares during the period. Finally, Adage Capital Partners GP L.L.C. grew its stake in shares of BrightSpring Health Services by 145.1% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 939,529 shares of the company's stock valued at $16,996,000 after buying an additional 556,152 shares during the period.

BrightSpring Health Services Stock Performance

Shares of BTSG stock opened at $27.31 on Friday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.34 and a current ratio of 1.76. BrightSpring Health Services, Inc. has a one year low of $14.03 and a one year high of $28.43. The company's 50-day simple moving average is $22.88 and its 200-day simple moving average is $21.15. The stock has a market capitalization of $4.84 billion, a price-to-earnings ratio of 88.10, a PEG ratio of 0.46 and a beta of 2.27.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.03. BrightSpring Health Services had a return on equity of 9.29% and a net margin of 0.55%.The firm had revenue of $3.15 billion for the quarter, compared to analysts' expectations of $2.99 billion. During the same quarter in the prior year, the firm posted $0.10 earnings per share. BrightSpring Health Services's revenue for the quarter was up 15.3% compared to the same quarter last year. BrightSpring Health Services has set its FY 2025 guidance at EPS. Equities analysts anticipate that BrightSpring Health Services, Inc. will post 0.59 earnings per share for the current fiscal year.

Insider Buying and Selling at BrightSpring Health Services

In other BrightSpring Health Services news, major shareholder Phoenix Aggregator L.P. Kkr sold 2,100,000 shares of BrightSpring Health Services stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $21.15, for a total value of $44,415,000.00. Following the completion of the transaction, the insider owned 77,096,337 shares of the company's stock, valued at $1,630,587,527.55. The trade was a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 3.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on BTSG shares. Wall Street Zen cut shares of BrightSpring Health Services from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. Deutsche Bank Aktiengesellschaft set a $30.00 price objective on BrightSpring Health Services and gave the stock a "buy" rating in a report on Monday, September 8th. Bank of America increased their target price on shares of BrightSpring Health Services from $27.50 to $31.00 and gave the stock a "buy" rating in a research report on Wednesday, September 10th. Cowen reissued a "buy" rating on shares of BrightSpring Health Services in a research report on Monday, August 4th. Finally, TD Cowen assumed coverage on shares of 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. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, BrightSpring Health Services has an average rating of "Moderate Buy" and an average target price of $27.10.

About BrightSpring Health Services

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.