Louisiana State Employees Retirement System Makes New $2.50 Million Investment in BrightSpring Health Services, Inc. $BTSG

Louisiana State Employees Retirement System purchased a new stake in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 58,700 shares of the company’s stock, valued at approximately $2,501,000.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in BrightSpring Health Services by 30.5% in the fourth quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company’s stock worth $469,385,000 after buying an additional 2,928,953 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in BrightSpring Health Services by 936.4% in the second quarter. The Manufacturers Life Insurance Company now owns 2,276,583 shares of the company’s stock worth $53,705,000 after acquiring an additional 2,056,920 shares in the last quarter. State Street Corp grew its position in BrightSpring Health Services by 99.5% in the fourth quarter. State Street Corp now owns 4,033,149 shares of the company’s stock worth $151,041,000 after acquiring an additional 2,011,095 shares in the last quarter. Jane Street Group LLC increased its stake in shares of BrightSpring Health Services by 855.4% during the 2nd quarter. Jane Street Group LLC now owns 2,076,730 shares of the company’s stock worth $48,990,000 after purchasing an additional 1,859,369 shares during the last quarter. Finally, 8 Knots Management LLC bought a new position in shares of BrightSpring Health Services during the 3rd quarter valued at $51,244,000.

Insider Buying and Selling at BrightSpring Health Services

In other news, insider Lisa A. Nalley sold 35,000 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $58.75, for a total transaction of $2,056,250.00. Following the transaction, the insider owned 131,948 shares in the company, valued at approximately $7,751,945. The trade was a 20.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jon B. Rousseau sold 130,000 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $58.75, for a total transaction of $7,637,500.00. Following the transaction, the insider directly owned 1,194,503 shares of the company’s stock, valued at $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 corporate insiders.

BrightSpring Health Services Price Performance

BrightSpring Health Services stock opened at $68.98 on Tuesday. The firm has a market cap of $13.61 billion, a price-to-earnings ratio of 48.92, a P/E/G ratio of 0.89 and a beta of 1.87. 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 fifty-two week low of $19.01 and a fifty-two week high of $70.72. The firm has a fifty day moving average price of $57.95 and a two-hundred day moving average price of $46.47.

BrightSpring Health Services (NASDAQ:BTSG) last released its quarterly earnings results on Friday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.10. The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.39 billion. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.14 earnings per share. As a group, analysts forecast that BrightSpring Health Services, Inc. will post 1.67 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on BTSG. Weiss Ratings upgraded BrightSpring Health Services from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, May 4th. Wall Street Zen upgraded BrightSpring Health Services from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 20th. KeyCorp raised their price objective on BrightSpring Health Services from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Wells Fargo & Company raised their price objective on BrightSpring Health Services from $50.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Finally, Zacks Research upgraded BrightSpring Health Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 3rd. Two research analysts have rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $61.27.

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.