Renaissance Technologies LLC Increases Position in BrightSpring Health Services, Inc. (NASDAQ:BTSG)

Renaissance Technologies LLC lifted its holdings in BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 12.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 175,500 shares of the company’s stock after purchasing an additional 19,200 shares during the period. Renaissance Technologies LLC’s holdings in BrightSpring Health Services were worth $1,994,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Silvercrest Asset Management Group LLC purchased a new position in shares of BrightSpring Health Services in the 1st quarter valued at about $14,179,000. Price T Rowe Associates Inc. MD acquired a new stake in BrightSpring Health Services in the 1st quarter worth about $16,260,000. Capstone Investment Advisors LLC acquired a new stake in BrightSpring Health Services in the 1st quarter worth about $9,722,000. TD Asset Management Inc acquired a new stake in BrightSpring Health Services in the 2nd quarter worth about $2,308,000. Finally, Vanguard Group Inc. acquired a new stake in BrightSpring Health Services in the 1st quarter worth about $54,638,000.

BrightSpring Health Services Trading Up 0.2 %

Shares of NASDAQ BTSG opened at $14.81 on Thursday. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.33 and a quick ratio of 1.00. BrightSpring Health Services, Inc. has a 52-week low of $7.85 and a 52-week high of $15.47. The business’s 50 day moving average is $12.94 and its two-hundred day moving average is $11.60.

BrightSpring Health Services (NASDAQ:BTSG) last announced its earnings results on Friday, August 2nd. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.08). The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.61 billion. The business’s revenue for the quarter was up 26.0% on a year-over-year basis. As a group, equities research analysts predict that BrightSpring Health Services, Inc. will post 0.57 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Guggenheim lifted their price objective on BrightSpring Health Services from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday. BTIG Research started coverage on BrightSpring Health Services in a report on Friday, June 21st. They issued a “buy” rating and a $15.00 price objective on the stock. Finally, The Goldman Sachs Group lowered their target price on BrightSpring Health Services from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $15.59.

Insider Transactions at BrightSpring Health Services

In related news, major shareholder Kkr Group Partnership L.P. acquired 11,619,998 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were acquired at an average price of $11.13 per share, with a total value of $129,330,577.74. Following the completion of the transaction, the insider now owns 92,959,984 shares of the company’s stock, valued at $1,034,644,621.92. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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.