Assenagon Asset Management S.A. Invests $1.34 Million in BrightSpring Health Services, Inc. $BTSG

Assenagon Asset Management S.A. purchased a new position in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) during the 1st quarter, Holdings Channel.com reports. The firm purchased 31,482 shares of the company’s stock, valued at approximately $1,341,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Iron Triangle Partners LP increased its stake in shares of BrightSpring Health Services by 3.2% in the 3rd quarter. Iron Triangle Partners LP now owns 1,238,520 shares of the company’s stock valued at $36,611,000 after purchasing an additional 38,520 shares during the last quarter. 8 Knots Management LLC bought a new stake in shares of BrightSpring Health Services during the 3rd quarter worth $51,244,000. SG Americas Securities LLC boosted its stake in BrightSpring Health Services by 1,221.9% in the fourth quarter. SG Americas Securities LLC now owns 183,103 shares of the company’s stock valued at $6,857,000 after buying an additional 169,251 shares in the last quarter. Victory Capital Management Inc. boosted its stake in BrightSpring Health Services by 551.3% in the third quarter. Victory Capital Management Inc. now owns 726,878 shares of the company’s stock valued at $21,487,000 after buying an additional 615,280 shares in the last quarter. Finally, Brevan Howard Capital Management LP boosted its stake in BrightSpring Health Services by 808.4% in the third quarter. Brevan Howard Capital Management LP now owns 113,671 shares of the company’s stock valued at $3,360,000 after buying an additional 101,157 shares in the last quarter.

BrightSpring Health Services Stock Performance

NASDAQ BTSG opened at $69.85 on Thursday. The company has a market capitalization of $13.78 billion, a price-to-earnings ratio of 49.54, a PEG ratio of 0.90 and a beta of 1.79. The company has a quick ratio of 1.38, a current ratio of 1.74 and a debt-to-equity ratio of 1.24. BrightSpring Health Services, Inc. has a twelve month low of $19.01 and a twelve month high of $70.72. The stock has a fifty day simple moving average of $58.84 and a 200 day simple moving average of $46.96.

BrightSpring Health Services (NASDAQ:BTSG) last announced its earnings results on Friday, May 1st. The company reported $0.39 EPS for the quarter, topping 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 firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same period in the previous year, the business earned $0.14 EPS. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. Sell-side analysts expect that BrightSpring Health Services, Inc. will post 1.67 EPS for the current year.

Insider Buying and Selling

In related news, insider Lisa A. Nalley sold 35,000 shares of BrightSpring Health Services 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 transaction, the insider directly owned 131,948 shares of the company’s stock, valued at $7,751,945. The trade was a 20.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value 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. The trade was a 9.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on BTSG shares. Wells Fargo & Company boosted their target price on BrightSpring Health Services from $50.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Leerink Partners restated an “outperform” rating and issued a $49.00 price target on shares of BrightSpring Health Services in a research note on Wednesday, March 18th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $60.00 price target on shares of BrightSpring Health Services in a report on Monday, May 4th. BMO Capital Markets set a $70.00 price objective on shares of BrightSpring Health Services in a research report on Thursday, May 21st. Finally, Mizuho increased their price objective on shares of BrightSpring Health Services from $52.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Two research analysts have rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, BrightSpring Health Services presently has a consensus rating of “Buy” and an average target price of $61.27.

About BrightSpring Health Services

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.