Hanseatic Management Services Inc. Buys New Holdings in BrightSpring Health Services, Inc. $BTSG

Hanseatic Management Services Inc. purchased a new position in BrightSpring Health Services, Inc. (NASDAQ:BTSG) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 7,758 shares of the company’s stock, valued at approximately $331,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BTSG. GHP Investment Advisors Inc. bought a new position in shares of BrightSpring Health Services during the first quarter worth $31,000. NBC Securities Inc. purchased a new position in BrightSpring Health Services during the fourth quarter valued at $29,000. Salomon & Ludwin LLC bought a new stake in BrightSpring Health Services in the 4th quarter valued at $30,000. Farther Finance Advisors LLC increased its holdings in BrightSpring Health Services by 112.8% in the 4th quarter. Farther Finance Advisors LLC now owns 1,717 shares of the company’s stock valued at $64,000 after acquiring an additional 910 shares during the last quarter. Finally, EverSource Wealth Advisors LLC bought a new stake in BrightSpring Health Services in the 2nd quarter valued at $43,000.

Insider Activity at BrightSpring Health Services

In other news, insider Lisa A. Nalley sold 35,000 shares of BrightSpring Health Services 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 transaction, the insider owned 131,948 shares in the company, valued at approximately $7,751,945. The trade was a 20.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jon B. Rousseau sold 130,000 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $58.75, for a total value of $7,637,500.00. Following the sale, the insider owned 1,194,503 shares in the company, valued at $70,177,051.25. The trade was a 9.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on BTSG shares. Wall Street Zen downgraded shares of BrightSpring Health Services from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 4th. Guggenheim started coverage on BrightSpring Health Services in a research report on Monday, July 13th. They set a “buy” rating and a $81.00 price objective for the company. Zacks Research cut BrightSpring Health Services from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Wells Fargo & Company boosted their target price on BrightSpring Health Services from $61.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Finally, KeyCorp increased their price target on BrightSpring Health Services from $60.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, BrightSpring Health Services presently has a consensus rating of “Buy” and an average price target of $70.12.

BrightSpring Health Services Stock Performance

Shares of NASDAQ:BTSG opened at $70.69 on Friday. BrightSpring Health Services, Inc. has a 52 week low of $19.01 and a 52 week high of $72.22. The stock has a market capitalization of $13.95 billion, a P/E ratio of 50.14, a PEG ratio of 0.89 and a beta of 1.79. The firm has a fifty day simple moving average of $63.76 and a two-hundred day simple moving average of $49.64. The company has a quick ratio of 1.38, a current ratio of 1.74 and a debt-to-equity ratio of 1.24.

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. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same period in the prior year, the company earned $0.14 EPS. The business’s revenue was up 25.6% compared to the same quarter last year. On average, analysts expect that BrightSpring Health Services, Inc. will post 1.7 earnings per share for the current fiscal year.

About BrightSpring Health Services

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.