Bank of New York Mellon Corp Raises Stock Position in BrightSpring Health Services, Inc. (NASDAQ:BTSG)

Bank of New York Mellon Corp raised its holdings in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 28.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 157,213 shares of the company's stock after purchasing an additional 34,907 shares during the period. Bank of New York Mellon Corp owned 0.09% of BrightSpring Health Services worth $2,677,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of BTSG. FMR LLC raised its holdings in shares of BrightSpring Health Services by 17.2% during the third quarter. FMR LLC now owns 18,169,187 shares of the company's stock valued at $266,724,000 after acquiring an additional 2,664,582 shares in the last quarter. Geode Capital Management LLC increased its position in BrightSpring Health Services by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,304,214 shares of the company's stock valued at $19,150,000 after purchasing an additional 7,750 shares during the period. State Street Corp raised its holdings in BrightSpring Health Services by 7.4% in the 3rd quarter. State Street Corp now owns 1,239,628 shares of the company's stock worth $18,198,000 after purchasing an additional 85,464 shares in the last quarter. HBK Investments L P lifted its position in shares of BrightSpring Health Services by 7.1% in the 3rd quarter. HBK Investments L P now owns 750,000 shares of the company's stock worth $11,010,000 after purchasing an additional 50,000 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of BrightSpring Health Services by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 440,335 shares of the company's stock valued at $6,464,000 after buying an additional 6,326 shares during the period.

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BrightSpring Health Services Stock Up 3.5 %

BTSG traded up $0.64 during trading on Monday, hitting $18.69. 1,933,891 shares of the company's stock traded hands, compared to its average volume of 1,279,663. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of -71.88 and a beta of 2.20. The company has a current ratio of 1.35, a quick ratio of 0.97 and a debt-to-equity ratio of 1.63. BrightSpring Health Services, Inc. has a 12-month low of $9.53 and a 12-month high of $24.82. The company's 50 day simple moving average is $20.09 and its two-hundred day simple moving average is $17.91.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. CJS Securities initiated coverage on shares of BrightSpring Health Services in a report on Thursday, December 12th. They issued an "outperform" rating and a $27.00 price objective for the company. Wells Fargo & Company raised their target price on BrightSpring Health Services from $17.00 to $21.00 and gave the company an "overweight" rating in a research note on Wednesday, November 27th. UBS Group upped their price target on BrightSpring Health Services from $22.00 to $30.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. Morgan Stanley raised their price objective on BrightSpring Health Services from $19.00 to $20.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. Finally, Bank of America upped their target price on shares of BrightSpring Health Services from $19.00 to $21.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $21.67.

BrightSpring Health Services Profile

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.