BrightSpring Health Services, Inc. (NASDAQ:BTSG) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its holdings in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 67.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 196,207 shares of the company's stock after acquiring an additional 79,181 shares during the period. The Manufacturers Life Insurance Company owned 0.11% of BrightSpring Health Services worth $2,880,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. nVerses Capital LLC bought a new position in BrightSpring Health Services in the 2nd quarter valued at $55,000. California State Teachers Retirement System bought a new stake in BrightSpring Health Services during the 1st quarter valued at about $59,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in BrightSpring Health Services in the 2nd quarter valued at about $126,000. Intech Investment Management LLC bought a new position in BrightSpring Health Services in the 3rd quarter worth about $159,000. Finally, Arizona State Retirement System purchased a new position in shares of BrightSpring Health Services during the second quarter worth approximately $163,000.

Insider Activity

In related news, major shareholder Kkr Group Partnership L.P. acquired 11,619,998 shares of the firm's stock in a transaction on Wednesday, September 11th. The shares were acquired at an average cost of $11.13 per share, with a total value of $129,330,577.74. Following the completion of the acquisition, the insider now directly owns 92,959,984 shares in the company, valued at approximately $1,034,644,621.92. This trade represents a 14.29 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

BrightSpring Health Services Stock Performance

Shares of BTSG stock traded down $0.23 on Friday, hitting $18.28. The company had a trading volume of 741,076 shares, compared to its average volume of 1,029,294. The firm has a market cap of $3.18 billion and a P/E ratio of -70.31. BrightSpring Health Services, Inc. has a twelve month low of $7.85 and a twelve month high of $20.25. The company has a 50-day moving average price of $17.14 and a 200-day moving average price of $13.84. The company has a quick ratio of 0.97, a current ratio of 1.35 and a debt-to-equity ratio of 1.63.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last posted its earnings results on Friday, November 1st. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.07). The firm had revenue of $2.91 billion for the quarter, compared to analysts' expectations of $2.72 billion. BrightSpring Health Services had a negative net margin of 0.38% and a positive return on equity of 4.16%. The firm's revenue for the quarter was up 28.8% on a year-over-year basis. As a group, equities research analysts predict that BrightSpring Health Services, Inc. will post 0.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. KeyCorp initiated coverage on BrightSpring Health Services in a research note on Friday, October 11th. They issued a "sector weight" rating on the stock. Mizuho increased their price objective on shares of BrightSpring Health Services from $17.00 to $20.00 and gave the company an "outperform" rating in a research note on Monday, November 4th. Guggenheim boosted their price objective on shares of BrightSpring Health Services from $15.00 to $18.00 and gave the stock a "buy" rating in a research note on Tuesday, October 1st. UBS Group increased their target price on BrightSpring Health Services from $16.00 to $20.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company boosted their price target on BrightSpring Health Services from $17.00 to $21.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 27th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $17.21.

BrightSpring Health Services Company 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.