Swiss National Bank boosted its position in BrightSpring Health Services, Inc. (NASDAQ:BTSG – Free Report) by 13.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 133,700 shares of the company’s stock after acquiring an additional 15,600 shares during the period. Swiss National Bank owned 0.08% of BrightSpring Health Services worth $3,154,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. raised its position in shares of BrightSpring Health Services by 264.7% during the first quarter. T. Rowe Price Investment Management Inc. now owns 5,772,772 shares of the company’s stock worth $104,430,000 after purchasing an additional 4,189,805 shares during the period. Invesco Ltd. increased its stake in BrightSpring Health Services by 41.0% during the 1st quarter. Invesco Ltd. now owns 6,172,597 shares of the company’s stock valued at $111,662,000 after purchasing an additional 1,794,035 shares in the last quarter. Nuveen LLC acquired a new position in BrightSpring Health Services during the first quarter worth $29,333,000. Vanguard Group Inc. lifted its stake in shares of BrightSpring Health Services by 24.6% in the first quarter. Vanguard Group Inc. now owns 6,633,744 shares of the company’s stock valued at $120,004,000 after buying an additional 1,308,651 shares in the last quarter. Finally, Iron Triangle Partners LP acquired a new position in shares of BrightSpring Health Services during the first quarter valued at about $13,067,000.
BrightSpring Health Services Stock Performance
Shares of BrightSpring Health Services stock opened at $35.16 on Friday. The business’s fifty day simple moving average is $32.16 and its 200 day simple moving average is $26.17. The company has a current ratio of 1.79, a quick ratio of 1.38 and a debt-to-equity ratio of 1.36. BrightSpring Health Services, Inc. has a 12 month low of $15.26 and a 12 month high of $36.77. The firm has a market capitalization of $6.34 billion, a P/E ratio of 57.64, a price-to-earnings-growth ratio of 0.59 and a beta of 2.36.
Insider Transactions at BrightSpring Health Services
In related news, insider Lisa A. Nalley sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, October 22nd. The shares were sold at an average price of $28.78, for a total transaction of $575,600.00. Following the completion of the sale, the insider owned 131,150 shares in the company, valued at approximately $3,774,497. This trade represents a 13.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jon B. Rousseau sold 235,000 shares of the stock in a transaction that occurred on Wednesday, October 22nd. The shares were sold at an average price of $28.78, for a total transaction of $6,763,300.00. Following the transaction, the insider directly owned 1,131,930 shares of the company’s stock, valued at $32,576,945.40. This represents a 17.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 3.40% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on BTSG. Weiss Ratings restated a “hold (c)” rating on shares of BrightSpring Health Services in a report on Monday. BTIG Research increased their price objective on BrightSpring Health Services from $30.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Morgan Stanley lifted their target price on BrightSpring Health Services from $25.00 to $32.00 and gave the company an “overweight” rating in a research report on Tuesday, October 14th. Jefferies Financial Group set a $36.00 price target on BrightSpring Health Services and gave the stock a “buy” rating in a report on Tuesday, October 21st. Finally, Deutsche Bank Aktiengesellschaft set a $30.00 price target on BrightSpring Health Services and gave the company a “buy” rating in a research report on Monday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $35.73.
Read Our Latest Stock Analysis on BrightSpring Health Services
About BrightSpring Health Services
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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