The Manufacturers Life Insurance Company Invests $239.38 Million in BrightSpring Health Services, Inc. $BTSG

The Manufacturers Life Insurance Company acquired a new stake in BrightSpring Health Services, Inc. (NASDAQ:BTSG) in the second quarter, Holdings Channel reports. The firm acquired 3,432,423 shares of the company’s stock, valued at approximately $239,377,000.

Several other large investors have also bought and sold shares of BTSG. Vanguard Group Inc. grew its position in shares of BrightSpring Health Services by 30.5% in the 4th quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company’s stock valued at $469,385,000 after buying an additional 2,928,953 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of BrightSpring Health Services by 4.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,662,236 shares of the company’s stock worth $399,302,000 after acquiring an additional 478,436 shares during the last quarter. Invesco Ltd. lifted its stake in shares of BrightSpring Health Services by 13.4% in the fourth quarter. Invesco Ltd. now owns 10,595,232 shares of the company’s stock worth $396,791,000 after acquiring an additional 1,248,107 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in BrightSpring Health Services by 21.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,123,865 shares of the company’s stock valued at $229,339,000 after acquiring an additional 1,091,757 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in BrightSpring Health Services by 12.1% in the second quarter. Alliancebernstein L.P. now owns 5,450,085 shares of the company’s stock valued at $128,568,000 after acquiring an additional 588,642 shares during the last quarter.

BrightSpring Health Services Price Performance

BTSG stock opened at $59.49 on Tuesday. The stock has a market capitalization of $11.77 billion, a PE ratio of 35.84, a price-to-earnings-growth ratio of 0.71 and a beta of 1.88. The company’s 50-day moving average is $66.36 and its 200-day moving average is $54.33. 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, Inc. has a 1 year low of $22.86 and a 1 year high of $73.75.

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

Insider Activity at BrightSpring Health Services

In other BrightSpring Health Services news, insider Lisa A. Nalley sold 35,000 shares of the firm’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 completion of the sale, the insider owned 131,948 shares of the company’s stock, valued at approximately $7,751,945. This trade represents a 20.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible 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 shares were 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 of the company’s stock, 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. 2.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have weighed in on BTSG. UBS Group increased their target price on shares of BrightSpring Health Services from $63.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Wells Fargo & Company increased their price objective on shares of BrightSpring Health Services from $61.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Weiss Ratings reissued a “buy (b-)” rating on shares of BrightSpring Health Services in a research note on Friday, July 31st. Wall Street Zen lowered shares of BrightSpring Health Services from a “strong-buy” rating to a “buy” rating in a report on Sunday. Finally, BTIG Research restated a “buy” rating and issued a $90.00 target price on shares of BrightSpring Health Services in a report on Thursday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating and eighteen have issued a Buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $70.71.

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.