BrightSpring Health Services, Inc. $BTSG Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its position in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 236.1% during the first quarter, HoldingsChannel reports. The firm owned 860,134 shares of the company’s stock after buying an additional 604,232 shares during the period. Allspring Global Investments Holdings LLC’s holdings in BrightSpring Health Services were worth $36,151,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. GHP Investment Advisors Inc. acquired a new stake in BrightSpring Health Services during the 1st quarter valued at approximately $31,000. NBC Securities Inc. purchased a new position in shares of BrightSpring Health Services during the 4th quarter valued at approximately $29,000. Salomon & Ludwin LLC purchased a new position in shares of BrightSpring Health Services during the 4th quarter valued at approximately $30,000. Farther Finance Advisors LLC grew its position in shares of BrightSpring Health Services by 112.8% during 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. Finally, EverSource Wealth Advisors LLC acquired a new stake in shares of BrightSpring Health Services during the second quarter worth approximately $43,000.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Wall Street Zen cut shares of BrightSpring Health Services from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 4th. Stephens raised their price objective on shares of BrightSpring Health Services from $53.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Morgan Stanley boosted their target price on shares of BrightSpring Health Services from $71.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Bank of America upped their target price on shares of BrightSpring Health Services from $66.00 to $77.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Finally, Wells Fargo & Company increased their price target on shares of BrightSpring Health Services from $61.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. One investment 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $70.12.

Insider Activity

In other BrightSpring Health Services news, insider Jon B. Rousseau sold 130,000 shares of BrightSpring Health Services stock in a transaction that occurred on 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 transaction, the insider directly owned 1,194,503 shares in the company, valued at $70,177,051.25. The trade was a 9.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Lisa A. Nalley sold 35,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $58.75, for a total value of $2,056,250.00. Following the transaction, the insider directly owned 131,948 shares of the company’s stock, valued at $7,751,945. This trade represents a 20.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.80% of the stock is owned by corporate insiders.

BrightSpring Health Services Price Performance

BTSG stock opened at $70.69 on Monday. 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 1-year low of $19.01 and a 1-year high of $72.22. The firm has a fifty day moving average price of $63.76 and a two-hundred day moving average price of $49.72. The firm has a market cap of $13.95 billion, a price-to-earnings ratio of 50.14, a PEG ratio of 0.89 and a beta of 1.79.

BrightSpring Health Services (NASDAQ:BTSG) last posted 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 net margin of 2.27% and a return on equity of 14.63%. The company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same period last year, the firm posted $0.14 EPS. The company’s revenue for the quarter was up 25.6% on a year-over-year basis. Research analysts predict that BrightSpring Health Services, Inc. will post 1.7 EPS for the current 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.