Walgreens Boots Alliance Inc. Cuts Stock Holdings in BrightSpring Health Services, Inc. (NASDAQ:BTSG)

Walgreens Boots Alliance Inc. decreased its position in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 33.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,239,996 shares of the company's stock after selling 11,619,998 shares during the period. BrightSpring Health Services comprises approximately 7.1% of Walgreens Boots Alliance Inc.'s holdings, making the stock its 2nd largest holding. Walgreens Boots Alliance Inc. owned 13.35% of BrightSpring Health Services worth $341,163,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. FMR LLC lifted its stake in BrightSpring Health Services by 17.2% during the third quarter. FMR LLC now owns 18,169,187 shares of the company's stock worth $266,724,000 after purchasing an additional 2,664,582 shares during the period. State Street Corp lifted its position in shares of BrightSpring Health Services by 7.4% during the 3rd quarter. State Street Corp now owns 1,239,628 shares of the company's stock worth $18,198,000 after buying an additional 85,464 shares during the period. Magnetar Financial LLC lifted its position in shares of BrightSpring Health Services by 46.9% during the 2nd quarter. Magnetar Financial LLC now owns 1,188,302 shares of the company's stock worth $13,499,000 after buying an additional 379,149 shares during the period. HBK Investments L P boosted its stake in BrightSpring Health Services by 7.1% in the 3rd quarter. HBK Investments L P now owns 750,000 shares of the company's stock valued at $11,010,000 after buying an additional 50,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in 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 acquiring an additional 6,326 shares in the last quarter.

BrightSpring Health Services Trading Down 1.2 %

Shares of BTSG traded down $0.23 on Friday, reaching $18.28. 741,076 shares of the company's stock were exchanged, compared to its average volume of 1,452,486. BrightSpring Health Services, Inc. has a 12 month low of $7.85 and a 12 month high of $20.25. The stock has a market capitalization of $3.18 billion and a P/E ratio of -71.19. The company has a current ratio of 1.35, a quick ratio of 0.97 and a debt-to-equity ratio of 1.63. The business has a 50 day moving average price of $17.08 and a two-hundred day moving average price of $13.76.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last posted its quarterly earnings results on Friday, November 1st. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.07). The company had revenue of $2.91 billion during 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%. The business'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 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on BTSG shares. KeyCorp began coverage on shares of BrightSpring Health Services in a research note on Friday, October 11th. They issued a "sector weight" rating on the stock. BTIG Research boosted their price target on shares of BrightSpring Health Services from $15.00 to $20.00 and gave the company a "buy" rating in a research report on Thursday, October 3rd. The Goldman Sachs Group dropped their price objective on shares of BrightSpring Health Services from $21.00 to $18.00 and set a "buy" rating for the company in a report on Friday, August 9th. UBS Group increased their price target on BrightSpring Health Services from $16.00 to $20.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Finally, Guggenheim raised their target price on BrightSpring Health Services from $15.00 to $18.00 and gave the company a "buy" rating in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, BrightSpring Health Services has an average rating of "Moderate Buy" and a consensus price target of $17.21.

Insider Activity at BrightSpring Health Services

In other BrightSpring Health Services news, major shareholder Kkr Group Partnership L.P. purchased 11,619,998 shares of the company's stock in a transaction dated Wednesday, September 11th. The shares were bought 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 directly owns 92,959,984 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this hyperlink.

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.