SEB Asset Management AB Makes New $14.55 Million Investment in BrightSpring Health Services, Inc. $BTSG

SEB Asset Management AB acquired a new stake in BrightSpring Health Services, Inc. (NASDAQ:BTSG) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 341,465 shares of the company’s stock, valued at approximately $14,550,000.

A number of other hedge funds have also recently made changes to their positions in BTSG. Swiss National Bank increased its position in shares of BrightSpring Health Services by 47.9% during the first quarter. Swiss National Bank now owns 284,100 shares of the company’s stock worth $12,106,000 after acquiring an additional 92,000 shares in the last quarter. Hanseatic Management Services Inc. bought a new position in BrightSpring Health Services in the 1st quarter valued at about $331,000. Jennison Associates LLC acquired a new position in BrightSpring Health Services during the 1st quarter valued at about $825,000. Allspring Global Investments Holdings LLC boosted its stake in BrightSpring Health Services by 236.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 860,134 shares of the company’s stock valued at $36,151,000 after purchasing an additional 604,232 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in BrightSpring Health Services by 11.1% during the 1st quarter. Bank of New York Mellon Corp now owns 732,537 shares of the company’s stock worth $31,213,000 after purchasing an additional 72,939 shares in the last quarter.

BrightSpring Health Services Stock Down 0.3%

BTSG stock opened at $70.50 on Tuesday. The stock has a market cap of $13.91 billion, a P/E ratio of 50.00, a P/E/G ratio of 0.89 and a beta of 1.79. The company has a current ratio of 1.74, a quick ratio of 1.38 and a debt-to-equity ratio of 1.24. The stock’s fifty day simple moving average is $64.07 and its two-hundred day simple moving average is $49.96. BrightSpring Health Services, Inc. has a 1-year low of $19.01 and a 1-year high of $73.40.

BrightSpring Health Services (NASDAQ:BTSG) last announced its earnings results on Friday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.10. The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.39 billion. BrightSpring Health Services had a return on equity of 14.63% and a net margin of 2.27%.The business’s revenue was up 25.6% compared to the same quarter last year. During the same period last year, the firm posted $0.14 EPS. Analysts expect that BrightSpring Health Services, Inc. will post 1.7 EPS for the current year.

Insider Activity

In related news, insider Lisa A. Nalley sold 35,000 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $58.75, for a total transaction of $2,056,250.00. Following the completion of the transaction, the insider owned 131,948 shares in the company, valued at approximately $7,751,945. This represents a 20.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jon B. Rousseau sold 130,000 shares of the firm’s stock in a transaction dated 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. This trade represents a 9.82% 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 corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BTSG. The Goldman Sachs Group started coverage on BrightSpring Health Services in a report on Monday, June 8th. They issued a “buy” rating and a $71.00 target price on the stock. Bank of America upped their price target on BrightSpring Health Services from $66.00 to $77.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Guggenheim started coverage on BrightSpring Health Services in a research report on Monday, July 13th. They issued a “buy” rating and a $81.00 price target for the company. UBS Group raised their price objective on BrightSpring Health Services from $63.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Finally, TD Cowen lifted their price objective on shares of BrightSpring Health Services from $65.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $70.12.

BrightSpring Health Services Company 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.