BrightSpring Health Services, Inc. $BTSG Shares Bought by Rhenman & Partners Asset Management AB

Key Points

• Rhenman & Partners Asset Management AB boosted its BrightSpring Health Services stake by 230% in the fourth quarter, ending with 198,000 shares valued at about $7.4 million.
• BrightSpring reported strong quarterly results, with EPS of $0.39 and revenue of $3.61 billion, both ahead of Wall Street estimates and up 25.6% year over year.
• Insiders sold shares in early June, including Lisa A. Nalley and CEO Jon B. Rousseau, even as analysts remained bullish with a consensus Buy rating and average price target of $58.53.

Rhenman & Partners Asset Management AB raised its holdings in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 230.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 198,000 shares of the company's stock after purchasing an additional 138,000 shares during the period. Rhenman & Partners Asset Management AB owned about 0.11% of BrightSpring Health Services worth $7,415,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. NBC Securities Inc. bought a new stake in shares of BrightSpring Health Services in the 4th quarter valued at approximately $29,000. Salomon & Ludwin LLC bought a new stake in shares of BrightSpring Health Services in the 4th quarter valued at approximately $30,000. Farther Finance Advisors LLC increased its holdings in shares of BrightSpring Health Services by 112.8% in the 4th quarter. Farther Finance Advisors LLC now owns 1,717 shares of the company's stock valued at $64,000 after acquiring an additional 910 shares during the last quarter. EverSource Wealth Advisors LLC bought a new stake in shares of BrightSpring Health Services in the 2nd quarter valued at approximately $43,000. Finally, CWM LLC increased its holdings in shares of BrightSpring Health Services by 17.5% in the 4th quarter. CWM LLC now owns 1,874 shares of the company's stock valued at $70,000 after acquiring an additional 279 shares during the last quarter.

BrightSpring Health Services Price Performance

Shares of BTSG opened at $63.23 on Friday. The company has a market cap of $12.47 billion, a P/E ratio of 44.84, a PEG ratio of 0.81 and a beta of 1.87. The stock has a fifty day moving average price of $53.17 and a 200 day moving average price of $44.00. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.74 and a quick ratio of 1.38. BrightSpring Health Services, Inc. has a 12 month low of $19.01 and a 12 month high of $64.18.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last issued its quarterly earnings data on Friday, May 1st. The company reported $0.39 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.10. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.39 billion. BrightSpring Health Services had a return on equity of 14.63% and a net margin of 2.27%.The firm's revenue was up 25.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.14 EPS. On average, research analysts forecast that BrightSpring Health Services, Inc. will post 1.67 earnings per share for the current year.

Insiders Place Their Bets

In other BrightSpring Health Services news, insider Lisa A. Nalley sold 35,000 shares of the business's stock in a transaction 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 completion of the transaction, the insider owned 131,948 shares in the company, valued at approximately $7,751,945. The trade was a 20.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jon B. Rousseau sold 130,000 shares of the business's stock in a transaction on Friday, June 5th. The stock was sold at an average price of $58.75, for a total value of $7,637,500.00. Following the transaction, the insider owned 1,194,503 shares of the company's stock, valued at $70,177,051.25. This trade represents a 9.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 2.80% of the company's stock.

Wall Street Analysts Forecast Growth

BTSG has been the subject of a number of research analyst reports. BMO Capital Markets set a $70.00 price target on BrightSpring Health Services in a report on Thursday, May 21st. Leerink Partners reiterated an "outperform" rating and issued a $49.00 price target on shares of BrightSpring Health Services in a report on Wednesday, March 18th. Wells Fargo & Company boosted their price target on BrightSpring Health Services from $50.00 to $61.00 and gave the company an "overweight" rating in a report on Monday, May 4th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $60.00 price target on shares of BrightSpring Health Services in a report on Monday, May 4th. Finally, BTIG Research boosted their price target on BrightSpring Health Services from $55.00 to $65.00 and gave the company a "buy" rating in a report on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $58.53.

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.

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