BrightSpring Health Services, Inc. $BTSG Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its BrightSpring Health Services stake by 80.1% in the second quarter, selling 25,228 shares and retaining 6,254 shares valued at approximately $436,000.
• BrightSpring reported quarterly EPS of $0.45, beating estimates by $0.05, while revenue reached $3.87 billion, up 23% year over year and above analyst expectations.
• Analyst sentiment remains positive, with the stock holding a consensus “Buy” rating and an average price target of $70.71; several firms recently raised their targets, including TD Cowen to $81 and Bank of America to $77.

Assenagon Asset Management S.A. trimmed its position in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 80.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,254 shares of the company's stock after selling 25,228 shares during the period. Assenagon Asset Management S.A.'s holdings in BrightSpring Health Services were worth $436,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. NBC Securities Inc. purchased a new stake in BrightSpring Health Services in the 4th quarter valued at about $29,000. Salomon & Ludwin LLC purchased a new position in shares of BrightSpring Health Services during the 4th quarter worth about $30,000. GHP Investment Advisors Inc. acquired a new stake in shares of BrightSpring Health Services in the first quarter worth approximately $31,000. EverSource Wealth Advisors LLC acquired a new stake in shares of BrightSpring Health Services in the second quarter worth approximately $43,000. Finally, Meeder Asset Management Inc. purchased a new stake in BrightSpring Health Services in the first quarter valued at approximately $52,000.

BrightSpring Health Services Stock Performance

NASDAQ:BTSG opened at $61.71 on Friday. The firm has a 50-day moving average of $66.64 and a two-hundred day moving average of $53.39. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.59 and a quick ratio of 1.22. The stock has a market cap of $12.21 billion, a P/E ratio of 37.17, a PEG ratio of 0.75 and a beta of 1.88. BrightSpring Health Services, Inc. has a 1-year low of $22.36 and a 1-year high of $73.75.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last announced its earnings results on Friday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.05. The company had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.66 billion. BrightSpring Health Services had a return on equity of 16.73% and a net margin of 2.55%.BrightSpring Health Services's quarterly revenue was up 23.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.22 EPS. On average, research analysts expect that BrightSpring Health Services, Inc. will post 1.78 earnings per share for the current fiscal year.

Insider Activity at BrightSpring Health Services

In other news, insider Lisa A. Nalley sold 35,000 shares of the business's 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 completion of the sale, the insider directly 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 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 sale, the insider directly owned 1,194,503 shares in the company, valued at approximately $70,177,051.25. This represents 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 currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BTSG. Wall Street Zen upgraded BrightSpring Health Services from a "buy" rating to a "strong-buy" rating in a report on Saturday. Bank of America boosted their price target on BrightSpring Health Services from $66.00 to $77.00 and gave the company a "buy" rating in a research report on Thursday, July 2nd. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $70.00 price target on shares of BrightSpring Health Services in a research note on Monday, August 3rd. KeyCorp restated an "overweight" rating on shares of BrightSpring Health Services in a report on Monday, August 3rd. Finally, TD Cowen lifted their price objective on BrightSpring Health Services from $65.00 to $81.00 and gave the company a "buy" rating in a research note on Thursday, June 18th. Two analysts have rated the stock with a Strong Buy rating and eighteen have issued a Buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $70.71.

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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