Louisiana State Employees Retirement System Makes New $2.50 Million Investment in BrightSpring Health Services, Inc. $BTSG

Louisiana State Employees Retirement System acquired a new position in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 58,700 shares of the company’s stock, valued at approximately $2,501,000.

Other institutional investors and hedge funds have also modified their holdings of the company. NBC Securities Inc. acquired a new position in shares of BrightSpring Health Services in the fourth quarter valued at $29,000. Salomon & Ludwin LLC acquired a new stake in BrightSpring Health Services during the fourth quarter worth $30,000. Farther Finance Advisors LLC boosted its stake in BrightSpring Health Services by 112.8% during the fourth quarter. Farther Finance Advisors LLC now owns 1,717 shares of the company’s stock worth $64,000 after buying an additional 910 shares in the last quarter. EverSource Wealth Advisors LLC bought a new stake in BrightSpring Health Services in the 2nd quarter valued at $43,000. Finally, CWM LLC increased its holdings in BrightSpring Health Services by 17.5% in the 4th quarter. CWM LLC now owns 1,874 shares of the company’s stock valued at $70,000 after buying an additional 279 shares during the period.

Insider Activity 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 stock was sold at an average price of $58.75, for a total value of $2,056,250.00. Following the transaction, the insider directly owned 131,948 shares of the company’s stock, valued at $7,751,945. The trade was a 20.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jon B. Rousseau sold 130,000 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $58.75, for a total value 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.80% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on BTSG. Mizuho raised their price objective on shares of BrightSpring Health Services from $52.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. KeyCorp raised their price target on shares of BrightSpring Health Services from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. BTIG Research upped their price objective on BrightSpring Health Services from $65.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, June 22nd. Leerink Partners restated an “outperform” rating and set a $49.00 target price on shares of BrightSpring Health Services in a research report on Wednesday, March 18th. Finally, BMO Capital Markets set a $70.00 price target on BrightSpring Health Services in a research note on Thursday, May 21st. Two analysts have rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $61.27.

BrightSpring Health Services Stock Performance

Shares of BTSG stock opened at $68.98 on Tuesday. The company has a market capitalization of $13.61 billion, a P/E ratio of 48.92, a P/E/G ratio of 0.89 and a beta of 1.87. BrightSpring Health Services, Inc. has a 12-month low of $19.01 and a 12-month high of $70.72. 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 50-day moving average price of $57.95 and a 200 day moving average price of $46.47.

BrightSpring Health Services (NASDAQ:BTSG) last issued its quarterly earnings data on Friday, May 1st. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.10. The firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.39 billion. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The company’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.14 earnings per share. Research analysts forecast that BrightSpring Health Services, Inc. will post 1.67 earnings per share for the current fiscal year.

BrightSpring Health Services Company 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.