Persistent Asset Partners Ltd Has $1.59 Million Position in BrightSpring Health Services, Inc. (NASDAQ:BTSG)

Key Points

• Persistent Asset Partners Ltd has significantly reduced its stake in BrightSpring Health Services, lowering its position by 48.6% to 87,872 shares, which is about 1.3% of the fund's portfolio.
• BrightSpring Health Services' stock currently has a consensus price target of $25.67, with several analysts giving it a "buy" rating, although Wall Street Zen downgraded it to a "buy" from a "strong-buy."
• In the latest earnings report, BrightSpring Health Services reported $0.22 EPS, exceeding expectations, with revenues of $3.15 billion, reflecting a 15.3% year-over-year increase.

Persistent Asset Partners Ltd lowered its position in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 48.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 87,872 shares of the company's stock after selling 83,192 shares during the period. BrightSpring Health Services accounts for 1.3% of Persistent Asset Partners Ltd's portfolio, making the stock its 22nd largest holding. Persistent Asset Partners Ltd owned 0.05% of BrightSpring Health Services worth $1,590,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BTSG. Teacher Retirement System of Texas increased its holdings in shares of BrightSpring Health Services by 6.8% during the first quarter. Teacher Retirement System of Texas now owns 14,650 shares of the company's stock worth $265,000 after buying an additional 932 shares in the last quarter. Swiss National Bank raised its position in BrightSpring Health Services by 0.9% in the 1st quarter. Swiss National Bank now owns 118,100 shares of the company's stock valued at $2,136,000 after buying an additional 1,000 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in BrightSpring Health Services by 3.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,649 shares of the company's stock valued at $522,000 after purchasing an additional 1,032 shares during the last quarter. MetLife Investment Management LLC increased its position in BrightSpring Health Services by 4.9% during the fourth quarter. MetLife Investment Management LLC now owns 33,117 shares of the company's stock worth $564,000 after buying an additional 1,548 shares during the last quarter. Finally, Quarry LP acquired a new position in BrightSpring Health Services during the fourth quarter worth approximately $29,000.

Wall Street Analysts Forecast Growth

BTSG has been the topic of a number of analyst reports. Mizuho set a $26.00 target price on shares of BrightSpring Health Services in a research report on Monday, May 5th. Cowen reaffirmed a "buy" rating on shares of BrightSpring Health Services in a research note on Monday, August 4th. Morgan Stanley upped their price target on BrightSpring Health Services from $20.00 to $25.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Wall Street Zen downgraded BrightSpring Health Services from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. 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 research note on Tuesday, May 13th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, BrightSpring Health Services currently has an average rating of "Moderate Buy" and a consensus price target of $25.67.

Insider Activity

In other BrightSpring Health Services news, major shareholder Phoenix Aggregator L.P. Kkr sold 2,100,000 shares of BrightSpring Health Services stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $21.15, for a total transaction of $44,415,000.00. Following the transaction, the insider directly owned 77,096,337 shares of the company's stock, valued at $1,630,587,527.55. The trade was a 2.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jon B. Rousseau sold 531,840 shares of BrightSpring Health Services stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $21.75, for a total transaction of $11,567,520.00. Following the transaction, the insider directly owned 1,184,133 shares in the company, valued at $25,754,892.75. This trade represents a 30.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,919,941 shares of company stock valued at $337,025,856. 3.40% of the stock is owned by corporate insiders.

BrightSpring Health Services Stock Down 0.6%

Shares of BTSG opened at $20.66 on Tuesday. The business's 50 day moving average is $21.50 and its 200 day moving average is $20.50. The company has a market capitalization of $3.66 billion, a PE ratio of 66.65 and a beta of 2.25. BrightSpring Health Services, Inc. has a 12-month low of $11.38 and a 12-month high of $25.57. The company has a current ratio of 1.76, a quick ratio of 1.34 and a debt-to-equity ratio of 1.43.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.03. The company had revenue of $3.15 billion during the quarter, compared to analysts' expectations of $2.99 billion. BrightSpring Health Services had a net margin of 0.55% and a return on equity of 9.29%. The firm's quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 EPS. Research analysts expect that BrightSpring Health Services, Inc. will post 0.59 earnings per share for the current fiscal year.

BrightSpring Health Services Company 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.

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