FMR LLC increased its position in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 17.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,169,187 shares of the company's stock after buying an additional 2,664,582 shares during the period. FMR LLC owned about 10.43% of BrightSpring Health Services worth $266,724,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of BTSG. The Manufacturers Life Insurance Company grew its stake in BrightSpring Health Services by 67.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 196,207 shares of the company's stock worth $2,880,000 after acquiring an additional 79,181 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings 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 worth $6,464,000 after purchasing an additional 6,326 shares during the last quarter. L & S Advisors Inc purchased a new stake in shares of BrightSpring Health Services in the third quarter valued at $1,247,000. Intech Investment Management LLC acquired a new position in BrightSpring Health Services in the third quarter valued at $159,000. Finally, LMR Partners LLP purchased a new position in BrightSpring Health Services during the third quarter worth about $493,000.
Analyst Upgrades and Downgrades
BTSG has been the subject of several recent analyst reports. UBS Group lifted their price target on BrightSpring Health Services from $16.00 to $20.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. The Goldman Sachs Group dropped their price target on shares of BrightSpring Health Services from $21.00 to $18.00 and set a "buy" rating for the company in a research report on Friday, August 9th. Guggenheim lifted their price target on shares of BrightSpring Health Services from $15.00 to $18.00 and gave the company a "buy" rating in a report on Tuesday, October 1st. Mizuho upped their price objective on BrightSpring Health Services from $17.00 to $20.00 and gave the stock an "outperform" rating in a report on Monday, November 4th. Finally, KeyCorp initiated coverage on BrightSpring Health Services in a report on Friday, October 11th. They issued a "sector weight" rating on the stock. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $17.21.
View Our Latest Stock Analysis on BTSG
BrightSpring Health Services Stock Down 1.8 %
BrightSpring Health Services stock traded down $0.35 during midday trading on Monday, hitting $18.95. 728,852 shares of the company were exchanged, compared to its average volume of 1,465,475. The company has a market cap of $3.30 billion and a PE ratio of -74.23. BrightSpring Health Services, Inc. has a fifty-two week low of $7.85 and a fifty-two week high of $20.25. The company's fifty day moving average price is $16.77 and its 200-day moving average price is $13.58. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 0.97.
BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last posted its earnings results on Friday, November 1st. The company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.07). The firm had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.72 billion. BrightSpring Health Services had a positive return on equity of 4.16% and a negative net margin of 0.38%. BrightSpring Health Services's quarterly revenue was up 28.8% compared to the same quarter last year. On average, research analysts predict that BrightSpring Health Services, Inc. will post 0.59 EPS for the current fiscal year.
Insider Buying and Selling at BrightSpring Health Services
In related news, major shareholder Kkr Group Partnership L.P. purchased 11,619,998 shares of the firm's stock in a transaction dated Wednesday, September 11th. The stock was 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. This represents a 14.29 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
About BrightSpring Health Services
(
Free Report)
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.
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