Sei Investments Co. Boosts Stock Holdings in BrightSpring Health Services, Inc. $BTSG

Sei Investments Co. grew its holdings in BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 142.9% in the 1st quarter, HoldingsChannel reports. The firm owned 483,912 shares of the company’s stock after buying an additional 284,678 shares during the quarter. Sei Investments Co.’s holdings in BrightSpring Health Services were worth $20,620,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of BTSG. SG Americas Securities LLC raised its stake in BrightSpring Health Services by 1,221.9% in the fourth quarter. SG Americas Securities LLC now owns 183,103 shares of the company’s stock worth $6,857,000 after buying an additional 169,251 shares in the last quarter. New York State Teachers Retirement System bought a new stake in BrightSpring Health Services during the 4th quarter valued at $1,311,000. State of Alaska Department of Revenue boosted its position in BrightSpring Health Services by 540.6% during the 4th quarter. State of Alaska Department of Revenue now owns 68,973 shares of the company’s stock valued at $2,582,000 after acquiring an additional 58,206 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of BrightSpring Health Services by 701.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 255,902 shares of the company’s stock valued at $9,827,000 after acquiring an additional 223,988 shares during the period. Finally, Westover Capital Advisors LLC bought a new position in shares of BrightSpring Health Services in the 4th quarter worth $697,000.

BrightSpring Health Services Stock Down 4.3%

Shares of BTSG stock opened at $69.37 on Thursday. The stock’s fifty day moving average price is $66.05 and its 200 day moving average price is $51.55. BrightSpring Health Services, Inc. has a 1-year low of $19.01 and a 1-year high of $73.75. The company has a market cap of $13.69 billion, a price-to-earnings ratio of 49.20, a price-to-earnings-growth ratio of 0.92 and a beta of 1.79. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.74 and a quick ratio of 1.38.

BrightSpring Health Services (NASDAQ:BTSG) last released its quarterly earnings results on Friday, May 1st. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.10. The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.39 billion. BrightSpring Health Services had a return on equity of 14.63% and a net margin of 2.27%.The firm’s revenue was up 25.6% compared to the same quarter last year. During the same period last year, the business posted $0.14 earnings per share. On average, research analysts expect that BrightSpring Health Services, Inc. will post 1.7 earnings per share for the current fiscal year.

Insider Activity at BrightSpring Health Services

In related news, insider Lisa A. Nalley sold 35,000 shares of the stock in a transaction that occurred 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 transaction, the insider directly owned 131,948 shares of the company’s stock, valued at $7,751,945. This trade represents a 20.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jon B. Rousseau sold 130,000 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 transaction of $7,637,500.00. Following the sale, the insider directly owned 1,194,503 shares in the company, valued at approximately $70,177,051.25. This represents a 9.82% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 2.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BTSG. Raymond James Financial initiated coverage on BrightSpring Health Services in a research note on Thursday, July 9th. They set an “outperform” rating and a $80.00 price objective for the company. BMO Capital Markets set a $70.00 target price on shares of BrightSpring Health Services in a report on Thursday, May 21st. Morgan Stanley increased their price target on shares of BrightSpring Health Services from $71.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Guggenheim began coverage on shares of BrightSpring Health Services in a report on Monday, July 13th. They issued a “buy” rating and a $81.00 price target on the stock. Finally, UBS Group lifted their price objective on shares of BrightSpring Health Services from $63.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $70.12.

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.