California State Teachers Retirement System Boosts Stake in BrightSpring Health Services, Inc. $BTSG

California State Teachers Retirement System increased its holdings in BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 70.8% in the first quarter, HoldingsChannel.com reports. The firm owned 158,147 shares of the company’s stock after buying an additional 65,542 shares during the quarter. California State Teachers Retirement System’s holdings in BrightSpring Health Services were worth $6,739,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in BTSG. NBC Securities Inc. purchased a new position in shares of BrightSpring Health Services during the 4th quarter valued at approximately $29,000. Salomon & Ludwin LLC acquired a new position in BrightSpring Health Services during the fourth quarter worth $30,000. GHP Investment Advisors Inc. purchased a new position in BrightSpring Health Services during the first quarter valued at $31,000. EverSource Wealth Advisors LLC purchased a new stake in shares of BrightSpring Health Services during the second quarter worth about $43,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of BrightSpring Health Services during the first quarter worth about $52,000.

BrightSpring Health Services Trading Up 0.4%

BTSG opened at $63.02 on Thursday. The stock has a market capitalization of $12.47 billion, a PE ratio of 37.96, a P/E/G ratio of 0.77 and a beta of 1.88. BrightSpring Health Services, Inc. has a one year low of $19.51 and a one year high of $73.75. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.22 and a current ratio of 1.59. The business’s 50 day moving average price is $66.51 and its 200 day moving average price is $52.44.

BrightSpring Health Services (NASDAQ:BTSG) last issued its quarterly earnings data on Friday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.05. The firm had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.66 billion. BrightSpring Health Services had a return on equity of 16.73% and a net margin of 2.55%.The company’s quarterly revenue was up 23.0% on a year-over-year basis. During the same period last year, the company earned $0.22 EPS. As a group, equities research analysts expect that BrightSpring Health Services, Inc. will post 1.78 EPS for the current year.

Insider Buying and Selling

In other news, insider Jon B. Rousseau sold 130,000 shares of the firm’s stock in a transaction on 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 directly owned 1,194,503 shares in the company, valued at $70,177,051.25. This trade represents a 9.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Lisa A. Nalley sold 35,000 shares of the business’s stock in a transaction on 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 sale, the insider owned 131,948 shares in the company, valued at $7,751,945. This represents a 20.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. BTIG Research reiterated a “buy” rating and set a $90.00 price objective on shares of BrightSpring Health Services in a research note on Monday. Weiss Ratings reissued a “buy (b-)” rating on shares of BrightSpring Health Services in a research note on Friday, July 31st. Zacks Research cut shares of BrightSpring Health Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $70.00 price target on shares of BrightSpring Health Services in a research report on Monday. Finally, Bank of America upped their price objective on shares of BrightSpring Health Services from $66.00 to $77.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $70.71.

About BrightSpring Health Services

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.