Pictet Asset Management Holding SA boosted its holdings in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG – Free Report) by 58.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,208 shares of the company’s stock after acquiring an additional 8,884 shares during the period. Pictet Asset Management Holding SA’s holdings in BrightSpring Health Services were worth $1,032,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the business. NBC Securities Inc. acquired a new position in shares of BrightSpring Health Services during the 4th quarter worth approximately $29,000. Salomon & Ludwin LLC acquired a new stake in BrightSpring Health Services during the 4th quarter valued at $30,000. GHP Investment Advisors Inc. purchased a new position in BrightSpring Health Services during the first quarter worth $31,000. EverSource Wealth Advisors LLC purchased a new position in BrightSpring Health Services during the second quarter worth $43,000. Finally, Farther Finance Advisors LLC raised its holdings in shares of BrightSpring Health Services by 112.8% in the fourth quarter. Farther Finance Advisors LLC now owns 1,717 shares of the company’s stock worth $64,000 after acquiring an additional 910 shares during the last quarter.
Wall Street Analyst Weigh In
A number of analysts recently commented on BTSG shares. Weiss Ratings raised BrightSpring Health Services from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, May 4th. Stephens boosted their target price 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. Mizuho upped their target price on shares of BrightSpring Health Services from $52.00 to $61.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. UBS Group raised their price target on shares of BrightSpring Health Services from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, March 18th. Finally, BTIG Research lifted their price target on shares of BrightSpring Health Services from $65.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. Two equities research analysts have rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $63.67.
Insider Activity at BrightSpring Health Services
In related news, insider Jon B. Rousseau sold 130,000 shares of the company’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 $7,637,500.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Lisa A. Nalley sold 35,000 shares of the 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 $2,056,250.00. Following the transaction, the insider directly owned 131,948 shares in the company, valued at approximately $7,751,945. This represents a 20.96% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 2.80% of the company’s stock.
BrightSpring Health Services Stock Down 0.6%
Shares of NASDAQ:BTSG opened at $70.17 on Wednesday. The company has a current ratio of 1.74, a quick ratio of 1.38 and a debt-to-equity ratio of 1.24. The firm has a market cap of $13.84 billion, a price-to-earnings ratio of 49.77, a PEG ratio of 0.97 and a beta of 1.79. The stock’s 50-day moving average price is $60.64 and its two-hundred day moving average price is $47.90. BrightSpring Health Services, Inc. has a 12-month low of $19.01 and a 12-month high of $72.06.
BrightSpring Health Services (NASDAQ:BTSG – Get Free Report) last announced its quarterly earnings data on Friday, May 1st. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.10. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same period in the prior year, the firm posted $0.14 EPS. The company’s revenue was up 25.6% on a year-over-year basis. On average, research analysts forecast that BrightSpring Health Services, Inc. will post 1.64 EPS for the current year.
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.
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