Legal & General Group Plc Buys New Stake in BrightSpring Health Services, Inc. $BTSG

Legal & General Group Plc purchased a new stake in BrightSpring Health Services, Inc. (NASDAQ:BTSG) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 362,066 shares of the company’s stock, valued at approximately $25,250,000. Legal & General Group Plc owned approximately 0.18% of BrightSpring Health Services at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Allworth Financial LP bought a new position in shares of BrightSpring Health Services in the second quarter valued at about $28,000. GHP Investment Advisors Inc. bought a new stake in shares of BrightSpring Health Services in the 1st quarter valued at about $31,000. EverSource Wealth Advisors LLC acquired a new stake in BrightSpring Health Services in the second quarter worth $43,000. Kilter Group LLC acquired a new position in shares of BrightSpring Health Services in the 2nd quarter valued at approximately $50,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of BrightSpring Health Services during the first quarter worth $52,000.

Insider Buying and Selling at BrightSpring Health Services

In other BrightSpring Health Services news, insider Lisa A. Nalley sold 35,000 shares of the firm’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 transaction of $2,056,250.00. Following the completion of the transaction, the insider owned 131,948 shares in the company, valued at approximately $7,751,945. This trade represents a 20.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jon B. Rousseau sold 130,000 shares of the company’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 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 SEC filing for this sale provides additional information. 2.80% of the stock is currently owned by company insiders.

BrightSpring Health Services Trading Down 2.9%

BTSG opened at $59.13 on Friday. The company’s 50 day moving average is $65.91 and its 200-day moving average is $54.81. The company has a market cap of $11.70 billion, a P/E ratio of 35.62, a PEG ratio of 0.71 and a beta of 1.88. BrightSpring Health Services, Inc. has a 1-year low of $22.86 and a 1-year high of $73.75. The company has a current ratio of 1.59, a quick ratio of 1.22 and a debt-to-equity ratio of 1.06.

BrightSpring Health Services (NASDAQ:BTSG) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05. BrightSpring Health Services had a return on equity of 16.73% and a net margin of 2.55%.The company had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same period in the prior year, the company earned $0.22 EPS. BrightSpring Health Services’s revenue was up 23.0% compared to the same quarter last year. Equities research analysts predict that BrightSpring Health Services, Inc. will post 1.82 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of BrightSpring Health Services in a report on Friday, July 31st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $70.00 price target on shares of BrightSpring Health Services in a report on Monday, August 3rd. Wall Street Zen cut BrightSpring Health Services from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 23rd. Stephens upped their price target on shares of BrightSpring Health Services from $53.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Finally, BTIG Research restated a “buy” rating and set a $90.00 price objective on shares of BrightSpring Health Services in a research note on Thursday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating and eighteen have given a Buy rating to the company’s stock. Based on data from MarketBeat, BrightSpring Health Services has an average rating of “Buy” and an average target price of $70.71.

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.