New York State Teachers Retirement System Acquires New Shares in BrightSpring Health Services, Inc. $BTSG

New York State Teachers Retirement System purchased a new stake in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) during the fourth quarter, Holdings Channel reports. The fund purchased 35,000 shares of the company’s stock, valued at approximately $1,311,000.

Other institutional investors also recently modified their holdings of the company. State of New Jersey Common Pension Fund D bought a new stake in shares of BrightSpring Health Services in the 4th quarter valued at about $2,560,000. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of BrightSpring Health Services by 29.8% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 13,240 shares of the company’s stock worth $496,000 after acquiring an additional 3,036 shares during the period. Comerica Bank boosted its holdings in BrightSpring Health Services by 96.4% in the fourth quarter. Comerica Bank now owns 95,245 shares of the company’s stock valued at $3,567,000 after acquiring an additional 46,758 shares during the last quarter. Renaissance Capital LLC acquired a new stake in BrightSpring Health Services during the 4th quarter valued at approximately $2,625,000. Finally, Pictet Asset Management Holding SA increased its position in BrightSpring Health Services by 10.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 15,324 shares of the company’s stock valued at $574,000 after purchasing an additional 1,446 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BTSG. Leerink Partners reissued an “outperform” rating and set a $49.00 target price on shares of BrightSpring Health Services in a research note on Wednesday, March 18th. Cantor Fitzgerald set a $49.00 price objective on shares of BrightSpring Health Services in a research report on Monday, March 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $60.00 target price on shares of BrightSpring Health Services in a research report on Monday, May 4th. Wells Fargo & Company boosted their price target on shares of BrightSpring Health Services from $50.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Finally, Wall Street Zen raised BrightSpring Health Services from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Two analysts have rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $56.29.

BrightSpring Health Services Stock Performance

Shares of BTSG stock opened at $54.83 on Friday. BrightSpring Health Services, Inc. has a 52 week low of $19.01 and a 52 week high of $54.95. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.38 and a current ratio of 1.74. The firm’s 50-day simple moving average is $44.21 and its two-hundred day simple moving average is $39.32. The firm has a market cap of $10.63 billion, a price-to-earnings ratio of 38.89, a P/E/G ratio of 0.75 and a beta of 1.71.

BrightSpring Health Services (NASDAQ:BTSG) last announced its quarterly earnings data 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. BrightSpring Health Services had a return on equity of 14.63% and a net margin of 2.27%.The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same period in the prior year, the company earned $0.14 earnings per share. BrightSpring Health Services’s revenue was up 25.6% compared to the same quarter last year. As a group, equities analysts forecast that BrightSpring Health Services, Inc. will post 1.64 earnings per share for the current year.

Insider Transactions at BrightSpring Health Services

In other BrightSpring Health Services news, insider Lisa A. Nalley sold 30,000 shares of BrightSpring Health Services stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total transaction of $1,234,500.00. Following the completion of the transaction, the insider owned 110,594 shares of the company’s stock, valued at $4,550,943.10. The trade was a 21.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Jennifer A. Phipps sold 35,000 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $41.15, for a total value of $1,440,250.00. Following the sale, the chief financial officer owned 196,840 shares in the company, valued at approximately $8,099,966. This represents a 15.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 285,000 shares of company stock worth $11,727,750 over the last quarter. Corporate 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.