Verition Fund Management LLC Purchases 33,890 Shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG)

Verition Fund Management LLC raised its stake in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 34.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 132,918 shares of the company's stock after purchasing an additional 33,890 shares during the quarter. Verition Fund Management LLC owned 0.08% of BrightSpring Health Services worth $1,951,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. L & S Advisors Inc bought a new stake in BrightSpring Health Services in the 3rd quarter valued at $1,247,000. TD Asset Management Inc acquired a new stake in shares of BrightSpring Health Services during the 2nd quarter valued at about $2,308,000. Magnetar Financial LLC increased its stake in BrightSpring Health Services by 46.9% in the second quarter. Magnetar Financial LLC now owns 1,188,302 shares of the company's stock valued at $13,499,000 after acquiring an additional 379,149 shares during the period. Assenagon Asset Management S.A. acquired a new position in BrightSpring Health Services in the third quarter worth about $1,822,000. Finally, LMR Partners LLP bought a new position in BrightSpring Health Services during the third quarter worth about $493,000.

Analysts Set New Price Targets

Several research firms have recently weighed in on BTSG. Mizuho upped their price objective on BrightSpring Health Services from $17.00 to $20.00 and gave the company an "outperform" rating in a research note on Monday, November 4th. BTIG Research upped their price target on BrightSpring Health Services from $15.00 to $20.00 and gave the company a "buy" rating in a research report on Thursday, October 3rd. KeyCorp assumed coverage on BrightSpring Health Services in a report on Friday, October 11th. They set a "sector weight" rating for the company. Guggenheim upped their target price on shares of BrightSpring Health Services from $15.00 to $18.00 and gave the stock a "buy" rating in a report on Tuesday, October 1st. Finally, UBS Group lifted their price target on shares of BrightSpring Health Services from $16.00 to $20.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $17.21.

BrightSpring Health Services Trading Down 1.2 %

Shares of NASDAQ BTSG traded down $0.23 during midday trading on Friday, hitting $18.28. The stock had a trading volume of 740,876 shares, compared to its average volume of 1,454,697. 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, Inc. has a fifty-two week low of $7.85 and a fifty-two week high of $20.25. The firm has a market cap of $3.18 billion and a P/E ratio of -70.31. The company's 50-day simple moving average is $17.14 and its 200 day simple moving average is $13.81.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last announced its quarterly earnings data 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 the consensus estimate 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% on a year-over-year basis. Research analysts anticipate that BrightSpring Health Services, Inc. will post 0.59 EPS for the current year.

Insider Activity at BrightSpring Health Services

In related news, major shareholder Kkr Group Partnership L.P. acquired 11,619,998 shares of the company's stock in a transaction that occurred on Wednesday, September 11th. The stock was acquired at an average price of $11.13 per share, for a total transaction of $129,330,577.74. Following the completion of the acquisition, the insider now owns 92,959,984 shares of the company's stock, valued at $1,034,644,621.92. This trade represents a 14.29 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

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.