Meeder Asset Management Inc. Acquires New Stake in BrightSpring Health Services, Inc. $BTSG

Meeder Asset Management Inc. acquired a new stake in BrightSpring Health Services, Inc. (NASDAQ:BTSG) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 13,710 shares of the company’s stock, valued at approximately $956,000.

A number of other large investors also recently bought and sold shares of the company. Bank of America Corp DE increased its position in BrightSpring Health Services by 48.7% during the 1st quarter. Bank of America Corp DE now owns 1,534,154 shares of the company’s stock worth $65,370,000 after purchasing an additional 502,786 shares during the period. New York State Teachers Retirement System acquired a new stake in shares of BrightSpring Health Services in the 4th quarter valued at approximately $1,311,000. Ausbil Investment Management Ltd acquired a new stake in shares of BrightSpring Health Services in the 2nd quarter valued at approximately $2,005,000. Wealthstar Advisors LLC purchased a new stake in shares of BrightSpring Health Services in the first quarter valued at approximately $1,525,000. Finally, Bellars Harris Wealth Management LLC purchased a new stake in shares of BrightSpring Health Services in the second quarter valued at approximately $4,394,000.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on BTSG shares. Raymond James Financial started coverage on BrightSpring Health Services in a research report on Thursday, July 9th. They issued an “outperform” rating and a $80.00 price objective for the company. Wall Street Zen upgraded shares of BrightSpring Health Services from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Stephens upped their price target on shares of BrightSpring Health Services from $53.00 to $64.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $70.00 price target on shares of BrightSpring Health Services in a report on Monday, August 3rd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of BrightSpring Health Services in a research note on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating and eighteen have given a Buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $70.71.

Insider Buying and Selling at BrightSpring Health Services

In other news, insider Lisa A. Nalley sold 35,000 shares of BrightSpring Health Services stock in a transaction on Friday, June 5th. The stock was sold at an average price of $58.75, for a total transaction of $2,056,250.00. Following the completion of the transaction, the insider 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 transaction was disclosed in a filing 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 dated 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 sale, the insider owned 1,194,503 shares in the company, valued at $70,177,051.25. This represents a 9.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.80% of the company’s stock.

BrightSpring Health Services Stock Performance

NASDAQ BTSG opened at $59.50 on Wednesday. BrightSpring Health Services, Inc. has a 1-year low of $22.86 and a 1-year high of $73.75. The company has a market capitalization of $11.77 billion, a P/E ratio of 35.84, a PEG ratio of 0.75 and a beta of 1.88. The business has a 50 day moving average price of $66.63 and a 200 day moving average price of $53.77. 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 issued 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 analysts’ expectations of $3.66 billion. BrightSpring Health Services had a return on equity of 16.73% and a net margin of 2.55%.BrightSpring Health Services’s revenue was up 23.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.22 earnings per share. Sell-side analysts expect that BrightSpring Health Services, Inc. will post 1.78 EPS 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.