Allspring Global Investments Holdings LLC Has $9.83 Million Holdings in BrightSpring Health Services, Inc. $BTSG

Allspring Global Investments Holdings LLC raised its holdings in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 701.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 255,902 shares of the company’s stock after acquiring an additional 223,988 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.14% of BrightSpring Health Services worth $9,827,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in BTSG. Vanguard Group Inc. boosted its stake in shares of BrightSpring Health Services by 6.4% during the 3rd quarter. Vanguard Group Inc. now owns 9,604,703 shares of the company’s stock valued at $283,915,000 after buying an additional 576,906 shares during the period. Invesco Ltd. increased its stake in shares of BrightSpring Health Services by 2.5% in the third quarter. Invesco Ltd. now owns 9,347,125 shares of the company’s stock worth $276,301,000 after acquiring an additional 227,717 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of BrightSpring Health Services by 12.1% during the second quarter. Alliancebernstein L.P. now owns 5,450,085 shares of the company’s stock worth $128,568,000 after acquiring an additional 588,642 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in BrightSpring Health Services by 936.4% during the second quarter. The Manufacturers Life Insurance Company now owns 2,276,583 shares of the company’s stock valued at $53,705,000 after purchasing an additional 2,056,920 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in BrightSpring Health Services by 123.9% in the third quarter. Dimensional Fund Advisors LP now owns 2,096,949 shares of the company’s stock valued at $61,966,000 after purchasing an additional 1,160,500 shares in the last quarter.

BrightSpring Health Services Stock Performance

NASDAQ:BTSG opened at $43.10 on Monday. The company’s 50 day moving average is $40.76 and its 200-day moving average is $36.42. The company has a quick ratio of 1.12, a current ratio of 1.57 and a debt-to-equity ratio of 1.32. BrightSpring Health Services, Inc. has a 12 month low of $15.48 and a 12 month high of $45.59. The firm has a market cap of $8.34 billion, a price-to-earnings ratio of 48.98, a P/E/G ratio of 0.57 and a beta of 2.03.

BrightSpring Health Services (NASDAQ:BTSG) last posted its quarterly earnings data on Friday, February 27th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.01). The firm had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.38 billion. BrightSpring Health Services had a return on equity of 12.66% and a net margin of 1.48%.BrightSpring Health Services’s quarterly revenue was up 29.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.11 earnings per share. Equities analysts anticipate that BrightSpring Health Services, Inc. will post 0.59 EPS for the current year.

Insider Buying and Selling

In related news, insider Jon B. Rousseau sold 220,000 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total transaction of $9,053,000.00. Following the completion of the sale, the insider owned 1,023,880 shares in the company, valued at $42,132,662. This represents a 17.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jennifer A. Phipps sold 35,000 shares of the business’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total transaction of $1,440,250.00. Following the transaction, the chief financial officer directly owned 196,840 shares in the company, valued at $8,099,966. This trade represents a 15.10% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 285,000 shares of company stock valued at $11,727,750. Insiders own 3.40% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on BTSG. William Blair began coverage on BrightSpring Health Services in a research note on Monday, December 8th. They set an “outperform” rating for the company. Zacks Research raised BrightSpring Health Services from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 3rd. Wells Fargo & Company increased their price objective on BrightSpring Health Services from $43.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Leerink Partners reaffirmed an “outperform” rating and set a $49.00 price objective on shares of BrightSpring Health Services in a research report on Wednesday, March 18th. Finally, KeyCorp raised shares of BrightSpring Health Services from a “sector weight” rating to an “overweight” rating and set a $45.00 target price for the company in a research report on Friday, December 12th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $45.50.

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.