Candriam S.C.A. Makes New Investment in BrightSpring Health Services, Inc. $BTSG

Candriam S.C.A. bought a new stake in BrightSpring Health Services, Inc. (NASDAQ:BTSG) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 111,998 shares of the company’s stock, valued at approximately $4,772,000. Candriam S.C.A. owned 0.06% of BrightSpring Health Services as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the company. Oregon Public Employees Retirement Fund increased its position in BrightSpring Health Services by 16.5% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 30,300 shares of the company’s stock valued at $1,291,000 after acquiring an additional 4,300 shares during the period. Abel Hall LLC bought a new position in BrightSpring Health Services during the 1st quarter valued at $262,000. Stephens Inc. AR acquired a new stake in shares of BrightSpring Health Services in the first quarter valued at $221,000. Wealthstar Advisors LLC bought a new stake in shares of BrightSpring Health Services in the 1st quarter worth approximately $1,525,000. Finally, Moran Wealth Management LLC grew its position in BrightSpring Health Services by 9.0% in the first quarter. Moran Wealth Management LLC now owns 6,925 shares of the company’s stock worth $295,000 after buying an additional 572 shares during the last quarter.

BrightSpring Health Services Trading Down 2.5%

BrightSpring Health Services stock opened at $69.64 on Tuesday. The company’s fifty day moving average price is $62.46 and its two-hundred day moving average price is $48.84. 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 one year low of $19.01 and a one year high of $72.22. The company has a market capitalization of $13.74 billion, a price-to-earnings ratio of 49.39, a PEG ratio of 0.97 and a beta of 1.79.

BrightSpring Health Services (NASDAQ:BTSG) last posted its earnings results on Friday, May 1st. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.10. BrightSpring Health Services had a return on equity of 14.63% and a net margin of 2.27%.The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same period in the previous year, the company earned $0.14 EPS. The company’s revenue for the quarter was up 25.6% on a year-over-year basis. On average, analysts forecast that BrightSpring Health Services, Inc. will post 1.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Lisa A. Nalley sold 35,000 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $58.75, for a total value of $2,056,250.00. Following the completion of the transaction, the insider directly owned 131,948 shares in the company, valued at approximately $7,751,945. This represents a 20.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jon B. Rousseau sold 130,000 shares of the business’s stock in a transaction on 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 completion of the sale, the insider directly owned 1,194,503 shares in the company, valued at $70,177,051.25. This trade represents a 9.82% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. UBS Group lifted their target price on BrightSpring Health Services from $63.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. The Goldman Sachs Group began coverage on BrightSpring Health Services in a report on Monday, June 8th. They set a “buy” rating and a $71.00 price objective on the stock. 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 research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $60.00 price objective on shares of BrightSpring Health Services in a research report on Monday, May 4th. Finally, TD Cowen upped their price target on BrightSpring Health Services from $65.00 to $81.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. 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. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $68.41.

BrightSpring Health Services Company 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.