Handelsbanken Fonder AB Grows Stock Position in BrightSpring Health Services, Inc. $BTSG

Handelsbanken Fonder AB grew its holdings in BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 40.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 36,900 shares of the company’s stock after acquiring an additional 10,700 shares during the quarter. Handelsbanken Fonder AB’s holdings in BrightSpring Health Services were worth $2,573,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. GHP Investment Advisors Inc. acquired a new position in shares of BrightSpring Health Services during the first quarter valued at about $31,000. NBC Securities Inc. acquired a new stake in BrightSpring Health Services in the 4th quarter worth approximately $29,000. Salomon & Ludwin LLC purchased a new stake in BrightSpring Health Services during the 4th quarter worth approximately $30,000. Meeder Asset Management Inc. purchased a new stake in BrightSpring Health Services during the 1st quarter worth approximately $52,000. Finally, Harbor Investment Advisory LLC purchased a new stake in BrightSpring Health Services during the 2nd quarter worth approximately $91,000.

BrightSpring Health Services Price Performance

Shares of NASDAQ:BTSG opened at $61.71 on Monday. BrightSpring Health Services, Inc. has a twelve month low of $22.36 and a twelve month 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. The company has a market cap of $12.21 billion, a PE ratio of 37.17, a price-to-earnings-growth ratio of 0.75 and a beta of 1.88. The company’s 50 day moving average is $66.64 and its 200 day moving average is $53.48.

BrightSpring Health Services (NASDAQ:BTSG) last announced its quarterly earnings data on Friday, July 31st. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.40 by $0.05. The business had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.66 billion. BrightSpring Health Services had a net margin of 2.55% and a return on equity of 16.73%. The business’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.22 EPS. On average, sell-side analysts forecast that BrightSpring Health Services, Inc. will post 1.78 EPS for the current year.

Wall Street Analyst Weigh In

BTSG has been the subject of a number of research analyst reports. BMO Capital Markets set a $70.00 price target on shares of BrightSpring Health Services in a report on Thursday, May 21st. UBS Group boosted their price objective on shares of BrightSpring Health Services from $63.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Morgan Stanley upped their target price on BrightSpring Health Services from $71.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $70.00 target price on shares of BrightSpring Health Services in a research note on Monday, August 3rd. Finally, Stephens lifted their price target on BrightSpring Health Services from $53.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. Two investment 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.com, the company presently has an average rating of “Buy” and an average price target of $70.71.

Insider Buying and Selling at BrightSpring Health Services

In other BrightSpring Health Services news, insider Jon B. Rousseau sold 130,000 shares of BrightSpring Health Services stock in a transaction dated 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 completion of the transaction, 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. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Lisa A. Nalley sold 35,000 shares of the business’s stock in a transaction dated 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 directly owned 131,948 shares of the company’s stock, valued at approximately $7,751,945. This trade represents a 20.96% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 2.80% of the company’s stock.

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.