Pictet Asset Management Ltd. Has $26.04 Million Stake in Bright Horizons Family Solutions Inc. (NYSE:BFAM)

Pictet Asset Management Ltd. cut its stake in Bright Horizons Family Solutions Inc. (NYSE:BFAM) by 11.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 339,384 shares of the company’s stock after selling 43,645 shares during the period. Pictet Asset Management Ltd. owned 0.57% of Bright Horizons Family Solutions worth $26,038,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Teachers Advisors LLC raised its stake in shares of Bright Horizons Family Solutions by 2.5% in the fourth quarter. Teachers Advisors LLC now owns 77,584 shares of the company’s stock valued at $5,432,000 after buying an additional 1,892 shares in the last quarter. Highbridge Capital Management LLC bought a new stake in shares of Bright Horizons Family Solutions during the fourth quarter valued at $277,000. Parametrica Management Ltd raised its stake in shares of Bright Horizons Family Solutions by 0.9% in the first quarter. Parametrica Management Ltd now owns 5,927 shares of the company’s stock valued at $430,000 after buying an additional 50 shares in the last quarter. Atria Investments LLC bought a new stake in shares of Bright Horizons Family Solutions during the first quarter valued at $238,000. Finally, CWM LLC bought a new stake in shares of Bright Horizons Family Solutions during the first quarter valued at $1,953,000. 98.81% of the stock is currently owned by hedge funds and other institutional investors.

Bright Horizons Family Solutions Inc. (NYSE BFAM) opened at 79.29 on Friday. Bright Horizons Family Solutions Inc. has a one year low of $59.00 and a one year high of $82.00. The firm has a market capitalization of $4.69 billion, a price-to-earnings ratio of 42.31 and a beta of 0.12. The stock’s 50 day moving average price is $78.21 and its 200-day moving average price is $74.32.

Bright Horizons Family Solutions (NYSE:BFAM) last announced its quarterly earnings results on Tuesday, August 1st. The company reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.03. The business had revenue of $445.55 million for the quarter, compared to analyst estimates of $443.90 million. Bright Horizons Family Solutions had a return on equity of 19.19% and a net margin of 6.91%. Bright Horizons Family Solutions’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.61 EPS. On average, equities research analysts anticipate that Bright Horizons Family Solutions Inc. will post $2.64 earnings per share for the current fiscal year.

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BFAM has been the topic of several analyst reports. Credit Suisse Group reaffirmed an “outperform” rating and issued a $80.00 target price on shares of Bright Horizons Family Solutions in a research report on Monday, April 17th. BMO Capital Markets reaffirmed a “hold” rating and issued a $83.00 target price on shares of Bright Horizons Family Solutions in a research report on Friday, May 5th. Zacks Investment Research raised Bright Horizons Family Solutions from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a research report on Tuesday, May 9th. Finally, BidaskClub lowered Bright Horizons Family Solutions from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 27th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $81.75.

In other Bright Horizons Family Solutions news, CAO Mandy Berman sold 3,699 shares of Bright Horizons Family Solutions stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $75.94, for a total value of $280,902.06. Following the completion of the transaction, the chief accounting officer now owns 16,125 shares in the company, valued at approximately $1,224,532.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Bain Capital Investors Llc sold 4,124,534 shares of Bright Horizons Family Solutions stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $79.25, for a total value of $326,869,319.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,193,394 shares of company stock worth $332,246,231. 2.90% of the stock is owned by insiders.

Bright Horizons Family Solutions Company Profile

Bright Horizons Family Solutions Inc is a provider of child care, early education and other services. The Company provides services under multi-year contracts with employers offering child care and other dependent care solutions as part of their employee benefits packages. Its segments include full service center-based care services, back-up dependent care services and other educational advisory services.

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Institutional Ownership by Quarter for Bright Horizons Family Solutions (NYSE:BFAM)

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