Renaissance Technologies LLC Boosts Holdings in BrightSpring Health Services, Inc. (NASDAQ:BTSG)

Renaissance Technologies LLC lifted its stake in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 205.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 557,700 shares of the company's stock after acquiring an additional 375,200 shares during the period. Renaissance Technologies LLC owned 0.32% of BrightSpring Health Services worth $9,498,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Legal & General Group Plc boosted its stake in BrightSpring Health Services by 4.8% in the fourth quarter. Legal & General Group Plc now owns 64,631 shares of the company's stock valued at $1,101,000 after acquiring an additional 2,945 shares in the last quarter. Invesco Ltd. boosted its position in shares of BrightSpring Health Services by 1.0% in the 4th quarter. Invesco Ltd. now owns 4,378,562 shares of the company's stock worth $74,567,000 after purchasing an additional 41,991 shares in the last quarter. FMR LLC boosted its position in shares of BrightSpring Health Services by 21.6% in the 4th quarter. FMR LLC now owns 22,102,490 shares of the company's stock worth $376,405,000 after purchasing an additional 3,933,303 shares in the last quarter. Federated Hermes Inc. grew its stake in BrightSpring Health Services by 80.2% during the 4th quarter. Federated Hermes Inc. now owns 572,436 shares of the company's stock worth $9,749,000 after buying an additional 254,811 shares during the last quarter. Finally, Envestnet Asset Management Inc. acquired a new position in BrightSpring Health Services during the 4th quarter valued at about $188,000.

BrightSpring Health Services Stock Performance

Shares of NASDAQ:BTSG traded up $0.47 during trading on Tuesday, hitting $16.09. The stock had a trading volume of 1,161,046 shares, compared to its average volume of 1,280,543. The company has a quick ratio of 0.97, a current ratio of 1.35 and a debt-to-equity ratio of 1.63. BrightSpring Health Services, Inc. has a 12-month low of $10.15 and a 12-month high of $24.82. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of -61.88 and a beta of 2.02. The stock has a 50-day simple moving average of $18.13 and a two-hundred day simple moving average of $18.37.

Analyst Ratings Changes

Separately, UBS Group boosted their price target on BrightSpring Health Services from $22.00 to $30.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $21.67.

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.