Assenagon Asset Management S.A. Invests $561,000 in BrightSpring Health Services, Inc. (NASDAQ:BTSG)

Assenagon Asset Management S.A. purchased a new position in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 30,988 shares of the company's stock, valued at approximately $561,000.

A number of other hedge funds also recently modified their holdings of the stock. SG Americas Securities LLC raised its holdings in shares of BrightSpring Health Services by 12.7% in the 1st quarter. SG Americas Securities LLC now owns 41,698 shares of the company's stock worth $754,000 after purchasing an additional 4,698 shares during the period. Rhumbline Advisers raised its holdings in BrightSpring Health Services by 4.8% during the 1st quarter. Rhumbline Advisers now owns 77,100 shares of the company's stock valued at $1,395,000 after acquiring an additional 3,517 shares during the period. GAMMA Investing LLC raised its holdings in BrightSpring Health Services by 2,526.5% during the 1st quarter. GAMMA Investing LLC now owns 14,472 shares of the company's stock valued at $262,000 after acquiring an additional 13,921 shares during the period. Jefferies Financial Group Inc. bought a new stake in BrightSpring Health Services during the 4th quarter valued at $390,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in BrightSpring Health Services by 104.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 132,694 shares of the company's stock valued at $2,260,000 after acquiring an additional 67,634 shares during the period.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Morgan Stanley boosted their target price on shares of BrightSpring Health Services from $20.00 to $25.00 and gave the company an "overweight" rating in a report on Friday, May 9th. TD Cowen assumed coverage on shares of BrightSpring Health Services in a report on Monday. They set a "buy" rating and a $37.00 target price on the stock. Mizuho set a $26.00 target price on shares of BrightSpring Health Services in a report on Monday, May 5th. Finally, Wells Fargo & Company boosted their target price on shares of BrightSpring Health Services from $25.00 to $27.00 and gave the company an "overweight" rating in a report on Tuesday, May 13th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $24.90.

BrightSpring Health Services Price Performance

NASDAQ:BTSG traded up $0.50 during midday trading on Monday, hitting $22.77. The company had a trading volume of 2,986,091 shares, compared to its average volume of 1,587,962. BrightSpring Health Services, Inc. has a 52-week low of $10.15 and a 52-week high of $25.57. The stock's fifty day moving average price is $21.31 and its 200-day moving average price is $19.78. The company has a market capitalization of $4.00 billion, a PE ratio of 81.32 and a beta of 2.58. The company has a quick ratio of 1.37, a current ratio of 1.73 and a debt-to-equity ratio of 1.48.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last announced its earnings results on Friday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.10. BrightSpring Health Services had a net margin of 0.49% and a return on equity of 7.76%. The company had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.74 billion. During the same period in the previous year, the business earned $0.12 earnings per share. The firm's quarterly revenue was up 25.9% compared to the same quarter last year. As a group, research analysts expect that BrightSpring Health Services, Inc. will post 0.59 earnings per share for the current year.

Insider Buying and Selling

In other BrightSpring Health Services news, insider Jon B. Rousseau sold 531,840 shares of the business's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $21.75, for a total value of $11,567,520.00. Following the completion of the sale, the insider now directly owns 1,184,133 shares of the company's stock, valued at $25,754,892.75. The trade was a 30.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Phoenix Aggregator L.P. Kkr sold 13,288,101 shares of the business's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $21.15, for a total transaction of $281,043,336.15. Following the completion of the sale, the insider now directly owns 79,671,883 shares of the company's stock, valued at $1,685,060,325.45. This represents a 14.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.40% of the stock is owned by company insiders.

BrightSpring Health Services Profile

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.