VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in BrightSpring Health Services, Inc. $BTSG

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in BrightSpring Health Services, Inc. (NASDAQ:BTSG) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 53,050 shares of the company’s stock, valued at approximately $3,700,000.

Other institutional investors have also added to or reduced their stakes in the company. State of Wyoming raised its holdings in BrightSpring Health Services by 4.5% in the 1st quarter. State of Wyoming now owns 7,776 shares of the company’s stock valued at $331,000 after acquiring an additional 336 shares in the last quarter. Allworth Financial LP acquired a new stake in shares of BrightSpring Health Services during the 2nd quarter worth approximately $28,000. EverSource Wealth Advisors LLC increased its position in shares of BrightSpring Health Services by 17.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,826 shares of the company’s stock valued at $143,000 after purchasing an additional 565 shares during the period. Moran Wealth Management LLC increased its position in shares of BrightSpring Health Services by 9.0% during the first quarter. Moran Wealth Management LLC now owns 6,925 shares of the company’s stock valued at $295,000 after purchasing an additional 572 shares during the period. Finally, GHP Investment Advisors Inc. bought a new stake in shares of BrightSpring Health Services during the first quarter valued at approximately $31,000.

Analysts Set New Price Targets

Several research analysts recently commented on BTSG shares. Zacks Research raised BrightSpring Health Services from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. Weiss Ratings reissued a “buy (b-)” rating on shares of BrightSpring Health Services in a report on Friday, July 31st. Morgan Stanley increased their price objective on shares of BrightSpring Health Services from $71.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Raymond James Financial started coverage on shares of BrightSpring Health Services in a report on Thursday, July 9th. They set an “outperform” rating and a $80.00 price objective for the company. Finally, Wells Fargo & Company lifted their target price on shares of BrightSpring Health Services from $61.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating and eighteen have issued a Buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $70.71.

BrightSpring Health Services Price Performance

Shares of BTSG stock opened at $61.99 on Thursday. The stock’s fifty day simple moving average is $64.64 and its 200 day simple moving average is $56.11. BrightSpring Health Services, Inc. has a one year low of $25.92 and a one year high of $73.75. The firm has a market cap of $12.27 billion, a price-to-earnings ratio of 37.34, a P/E/G ratio of 0.73 and a beta of 1.84. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.59 and a quick ratio of 1.22.

BrightSpring Health Services (NASDAQ:BTSG) last released its quarterly earnings data on Friday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.05. The firm had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.66 billion. BrightSpring Health Services had a return on equity of 16.73% and a net margin of 2.55%.The business’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.22 earnings per share. On average, analysts expect that BrightSpring Health Services, Inc. will post 1.82 earnings per share for the current fiscal year.

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.