Principal Financial Group Inc. Boosts Stake in BrightSpring Health Services, Inc. $BTSG

Principal Financial Group Inc. lifted its stake in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 9.8% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 804,375 shares of the company’s stock after purchasing an additional 71,464 shares during the quarter. Principal Financial Group Inc.’s holdings in BrightSpring Health Services were worth $34,274,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Teachers Retirement System of The State of Kentucky increased its position in shares of BrightSpring Health Services by 22.4% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 32,800 shares of the company’s stock valued at $1,398,000 after acquiring an additional 6,000 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in BrightSpring Health Services by 16.4% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,736 shares of the company’s stock worth $1,395,000 after acquiring an additional 4,607 shares during the period. Fifth Third Bancorp grew its stake in BrightSpring Health Services by 76,964.7% during the 1st quarter. Fifth Third Bancorp now owns 102,496 shares of the company’s stock valued at $4,367,000 after purchasing an additional 102,363 shares during the last quarter. Candriam S.C.A. acquired a new position in shares of BrightSpring Health Services in the first quarter valued at about $4,772,000. Finally, Oregon Public Employees Retirement Fund increased its holdings in shares of BrightSpring Health Services by 16.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 30,300 shares of the company’s stock valued at $1,291,000 after purchasing an additional 4,300 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Morgan Stanley lifted their target price on BrightSpring Health Services from $71.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Raymond James Financial initiated coverage on shares of BrightSpring Health Services in a report on Thursday, July 9th. They issued an “outperform” rating and a $80.00 price target on the stock. UBS Group raised their price target 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. Stephens lifted their price objective on shares of BrightSpring Health Services from $53.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. 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 report 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $70.12.

Insider Buying and Selling

In other news, insider Lisa A. Nalley sold 35,000 shares of the firm’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 transaction of $2,056,250.00. Following the sale, the insider 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 Securities & Exchange Commission, which is available through this link. Also, insider Jon B. Rousseau sold 130,000 shares of BrightSpring Health Services stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $58.75, for a total transaction of $7,637,500.00. Following the transaction, the insider directly owned 1,194,503 shares of the company’s stock, valued at approximately $70,177,051.25. This trade represents a 9.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.80% of the stock is owned by company insiders.

BrightSpring Health Services Stock Performance

Shares of BTSG stock opened at $70.69 on Friday. BrightSpring Health Services, Inc. has a 52-week low of $19.01 and a 52-week high of $72.22. The company has a quick ratio of 1.38, a current ratio of 1.74 and a debt-to-equity ratio of 1.24. The stock has a market cap of $13.95 billion, a PE ratio of 50.14, a price-to-earnings-growth ratio of 0.89 and a beta of 1.79. The business has a 50-day simple moving average of $63.76 and a 200-day simple moving average of $49.64.

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