Envestnet Asset Management Inc. Takes Position in BrightSpring Health Services, Inc. (NASDAQ:BTSG)

Envestnet Asset Management Inc. bought a new position in BrightSpring Health Services, Inc. (NASDAQ:BTSG) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 11,046 shares of the company’s stock, valued at approximately $188,000.

Other hedge funds have also added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in shares of BrightSpring Health Services during the 4th quarter valued at about $74,000. KLP Kapitalforvaltning AS purchased a new position in shares of BrightSpring Health Services during the 4th quarter worth $206,000. Teacher Retirement System of Texas bought a new stake in shares of BrightSpring Health Services during the 4th quarter valued at $234,000. Intech Investment Management LLC raised its holdings in BrightSpring Health Services by 93.8% in the 4th quarter. Intech Investment Management LLC now owns 20,937 shares of the company’s stock worth $357,000 after purchasing an additional 10,135 shares during the period. Finally, SG Americas Securities LLC lifted its position in BrightSpring Health Services by 50.9% during the fourth quarter. SG Americas Securities LLC now owns 37,000 shares of the company’s stock valued at $630,000 after purchasing an additional 12,486 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Mizuho set a $26.00 price objective on BrightSpring Health Services in a research report on Monday. UBS Group upped their price target on shares of BrightSpring Health Services from $22.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, BrightSpring Health Services has an average rating of “Moderate Buy” and an average price target of $22.33.

BrightSpring Health Services Trading Down 2.3 %

Shares of NASDAQ BTSG opened at $22.52 on Friday. BrightSpring Health Services, Inc. has a 1-year low of $10.15 and a 1-year high of $24.82. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 0.97. The business’s 50 day moving average is $17.87 and its two-hundred day moving average is $18.65. The stock has a market capitalization of $3.94 billion, a P/E ratio of -86.60 and a beta of 2.06.

BrightSpring Health Services (NASDAQ:BTSG) last released its earnings results on Friday, May 2nd. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.10. The firm had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.74 billion. BrightSpring Health Services had a positive return on equity of 4.16% and a negative net margin of 0.38%. The company’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.12 EPS. As a group, research analysts expect that BrightSpring Health Services, Inc. will post 0.59 EPS for the current year.

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.