Allspring Global Investments Holdings LLC Raises Stake in BrightSpring Health Services, Inc. $BTSG

Allspring Global Investments Holdings LLC lifted its stake in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 236.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 860,134 shares of the company’s stock after purchasing an additional 604,232 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.44% of BrightSpring Health Services worth $36,151,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in BTSG. Bank of New York Mellon Corp increased its holdings in BrightSpring Health Services by 11.1% in the first quarter. Bank of New York Mellon Corp now owns 732,537 shares of the company’s stock valued at $31,213,000 after buying an additional 72,939 shares in the last quarter. Advisors Preferred LLC acquired a new position in BrightSpring Health Services during the first quarter worth $3,420,000. Sanctuary Advisors LLC acquired a new position in BrightSpring Health Services during the first quarter worth $224,000. Maryland State Retirement & Pension System boosted its position in BrightSpring Health Services by 15.9% during the first quarter. Maryland State Retirement & Pension System now owns 19,292 shares of the company’s stock worth $822,000 after purchasing an additional 2,644 shares in the last quarter. Finally, Archer Investment Corp purchased a new stake in BrightSpring Health Services during the first quarter worth $280,000.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. UBS Group raised their price target on BrightSpring Health Services from $63.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Stephens boosted 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 report on Monday, May 4th. Wells Fargo & Company boosted their price objective 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. TD Cowen increased their price objective on shares of BrightSpring Health Services from $65.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Finally, BTIG Research raised their target price on shares of BrightSpring Health Services from $65.00 to $90.00 and gave the company a “buy” rating in a report on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, BrightSpring Health Services presently has an average rating of “Buy” and a consensus price target of $70.12.

Insider Transactions at BrightSpring Health Services

In other news, insider Lisa A. Nalley sold 35,000 shares of the business’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 completion of the transaction, the insider owned 131,948 shares of the company’s stock, valued at $7,751,945. The trade was a 20.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jon B. Rousseau sold 130,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $58.75, for a total transaction of $7,637,500.00. Following the sale, the insider owned 1,194,503 shares in the company, valued at approximately $70,177,051.25. This trade represents a 9.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.80% of the company’s stock.

BrightSpring Health Services Price Performance

BTSG opened at $70.69 on Monday. The company has a quick ratio of 1.38, a current ratio of 1.74 and a debt-to-equity ratio of 1.24. The firm has a market cap of $13.95 billion, a P/E ratio of 50.14, a PEG ratio of 0.89 and a beta of 1.79. BrightSpring Health Services, Inc. has a 52 week low of $19.01 and a 52 week high of $72.22. The business’s fifty day simple moving average is $63.76 and its 200 day simple moving average is $49.72.

BrightSpring Health Services (NASDAQ:BTSG) last announced its earnings results on Friday, May 1st. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.10. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.39 billion. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The firm’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.14 EPS. As a group, equities research analysts anticipate that BrightSpring Health Services, Inc. will post 1.7 EPS for the current fiscal year.

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.