Norges Bank Makes New Investment in BrightSpring Health Services, Inc. (NASDAQ:BTSG)

Norges Bank acquired a new stake in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 1,530,556 shares of the company’s stock, valued at approximately $26,065,000.

Several other institutional investors and hedge funds have also recently modified their holdings of BTSG. BNP Paribas Financial Markets boosted its holdings in shares of BrightSpring Health Services by 5.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 21,329 shares of the company’s stock valued at $313,000 after purchasing an additional 1,011 shares during the last quarter. Rhumbline Advisers lifted its position in shares of BrightSpring Health Services by 1.5% in the fourth quarter. Rhumbline Advisers now owns 73,583 shares of the company’s stock worth $1,253,000 after buying an additional 1,118 shares in the last quarter. R Squared Ltd bought a new position in BrightSpring Health Services during the fourth quarter valued at approximately $74,000. Charles Schwab Investment Management Inc. grew its holdings in BrightSpring Health Services by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 440,335 shares of the company’s stock valued at $6,464,000 after buying an additional 6,326 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in BrightSpring Health Services by 8.8% in the 4th quarter. American Century Companies Inc. now owns 92,893 shares of the company’s stock worth $1,582,000 after acquiring an additional 7,505 shares during the last quarter.

Analysts Set New Price Targets

BTSG has been the subject of a number of research reports. Bank of America increased their target price on BrightSpring Health Services from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. UBS Group lifted their price objective on shares of BrightSpring Health Services from $22.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. CJS Securities initiated coverage on shares of BrightSpring Health Services in a report on Thursday, December 12th. They issued an “outperform” rating and a $27.00 target price on the stock. Finally, Morgan Stanley lifted their price target on BrightSpring Health Services from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $21.67.

BrightSpring Health Services Stock Performance

Shares of NASDAQ:BTSG opened at $17.15 on Monday. The company has a current ratio of 1.35, a quick ratio of 0.97 and a debt-to-equity ratio of 1.63. BrightSpring Health Services, Inc. has a 12 month low of $9.98 and a 12 month high of $24.82. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of -65.96 and a beta of 2.02. The firm’s 50-day moving average is $19.82 and its 200 day moving average is $18.22.

About BrightSpring Health Services

BrightSpring Health Services, Inc operates a home and community-based healthcare services platform in the United States. The company's platform focuses on delivering pharmacy and provider services, including clinical and supportive care in home and community settings to Medicare, Medicaid, and insured populations.