Bailard Inc. Buys Shares of 12,800 BrightSpring Health Services, Inc. $BTSG

Bailard Inc. purchased a new position in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 12,800 shares of the company’s stock, valued at approximately $378,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Invesco Ltd. raised its position in shares of BrightSpring Health Services by 47.7% in the second quarter. Invesco Ltd. now owns 9,119,408 shares of the company’s stock valued at $215,127,000 after buying an additional 2,946,811 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in BrightSpring Health Services by 936.4% in the 2nd 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 during the period. Jane Street Group LLC raised its holdings in BrightSpring Health Services by 855.4% in the 2nd quarter. Jane Street Group LLC now owns 2,076,730 shares of the company’s stock valued at $48,990,000 after acquiring an additional 1,859,369 shares during the last quarter. Voya Investment Management LLC raised its holdings in BrightSpring Health Services by 556.1% in the 3rd quarter. Voya Investment Management LLC now owns 1,343,775 shares of the company’s stock valued at $39,722,000 after acquiring an additional 1,138,965 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its holdings in shares of BrightSpring Health Services by 106.3% during the second quarter. Adage Capital Partners GP L.L.C. now owns 1,938,547 shares of the company’s stock worth $45,730,000 after purchasing an additional 999,018 shares during the last quarter.

BrightSpring Health Services Stock Performance

NASDAQ BTSG opened at $39.62 on Friday. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.79 and a quick ratio of 1.38. BrightSpring Health Services, Inc. has a 1-year low of $15.48 and a 1-year high of $41.03. The firm has a market capitalization of $7.15 billion, a P/E ratio of 64.95, a P/E/G ratio of 0.53 and a beta of 2.35. The business’s 50-day simple moving average is $36.90 and its 200-day simple moving average is $29.91.

Analysts Set New Price Targets

A number of brokerages have recently commented on BTSG. UBS Group lifted their price objective on BrightSpring Health Services from $35.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. KeyCorp raised BrightSpring Health Services from a “sector weight” rating to an “overweight” rating and set a $45.00 price target on the stock in a research note on Friday, December 12th. Jefferies Financial Group set a $36.00 price target on BrightSpring Health Services and gave the company a “buy” rating in a report on Tuesday, October 21st. Stephens initiated coverage on shares of BrightSpring Health Services in a research note on Wednesday, December 10th. They set an “overweight” rating and a $44.00 price objective for the company. Finally, Bank of America raised their target price on shares of BrightSpring Health Services from $38.00 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday, December 9th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.92.

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.