Pictet Asset Management Holding SA Increases Holdings in BrightSpring Health Services, Inc. $BTSG

Pictet Asset Management Holding SA grew its holdings in BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 58.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 24,208 shares of the company’s stock after acquiring an additional 8,884 shares during the quarter. Pictet Asset Management Holding SA’s holdings in BrightSpring Health Services were worth $1,032,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BTSG. Vanguard Group Inc. increased its stake in BrightSpring Health Services by 30.5% in the fourth quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company’s stock valued at $469,385,000 after purchasing an additional 2,928,953 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of BrightSpring Health Services by 4.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,662,236 shares of the company’s stock worth $399,302,000 after buying an additional 478,436 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of BrightSpring Health Services by 13.4% in the 4th quarter. Invesco Ltd. now owns 10,595,232 shares of the company’s stock valued at $396,791,000 after buying an additional 1,248,107 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its position in shares of BrightSpring Health Services by 21.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,123,865 shares of the company’s stock valued at $229,339,000 after buying an additional 1,091,757 shares during the last quarter. Finally, Alliancebernstein L.P. grew its position in shares of BrightSpring Health Services by 12.1% in the 2nd quarter. Alliancebernstein L.P. now owns 5,450,085 shares of the company’s stock valued at $128,568,000 after buying an additional 588,642 shares during the last quarter.

BrightSpring Health Services Stock Performance

Shares of BTSG stock opened at $70.17 on Wednesday. The company has a current ratio of 1.74, a quick ratio of 1.38 and a debt-to-equity ratio of 1.24. BrightSpring Health Services, Inc. has a 12-month low of $19.01 and a 12-month high of $72.06. The company has a market cap of $13.84 billion, a price-to-earnings ratio of 49.77, a price-to-earnings-growth ratio of 0.97 and a beta of 1.79. The stock has a 50 day simple moving average of $60.64 and a 200-day simple moving average of $47.90.

BrightSpring Health Services (NASDAQ:BTSG) last issued its earnings results on Friday, May 1st. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.29 by $0.10. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.39 billion. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The business’s revenue was up 25.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.14 EPS. On average, equities analysts forecast that BrightSpring Health Services, Inc. will post 1.64 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Weiss Ratings raised BrightSpring Health Services from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, May 4th. BTIG Research increased their price objective on BrightSpring Health Services from $65.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. TD Cowen boosted their target price on BrightSpring Health Services from $65.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, June 18th. BMO Capital Markets set a $70.00 price target on BrightSpring Health Services in a report on Thursday, May 21st. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $60.00 price objective on shares of BrightSpring Health Services in a research note on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, BrightSpring Health Services currently has a consensus rating of “Buy” and an average target price of $63.67.

Insider Transactions at BrightSpring Health Services

In other news, insider Jon B. Rousseau sold 130,000 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 transaction of $7,637,500.00. Following the sale, the insider owned 1,194,503 shares of the company’s stock, valued at $70,177,051.25. The trade was a 9.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lisa A. Nalley sold 35,000 shares of the company’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 owned 131,948 shares in the company, valued at approximately $7,751,945. This represents a 20.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.80% of the stock is currently owned by insiders.

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.