BrightSpring Health Services, Inc. (NASDAQ:BTSG) Major Shareholder Sells $281,043,336.15 in Stock

BrightSpring Health Services, Inc. (NASDAQ:BTSG) major shareholder Phoenix Aggregator L.P. Kkr sold 13,288,101 shares of BrightSpring Health Services stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $21.15, for a total value of $281,043,336.15. Following the sale, the insider now directly owns 79,671,883 shares in the company, valued at $1,685,060,325.45. The trade was a 14.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

BrightSpring Health Services Stock Up 0.7%

Shares of BTSG stock opened at $21.32 on Tuesday. BrightSpring Health Services, Inc. has a 1 year low of $10.15 and a 1 year high of $25.57. The stock has a market cap of $3.75 billion, a PE ratio of -82.00 and a beta of 2.58. The business’s fifty day moving average is $20.84 and its 200-day moving average is $19.66. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.97 and a current ratio of 1.35.

BrightSpring Health Services (NASDAQ:BTSG) last issued its quarterly earnings results on Friday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.10. BrightSpring Health Services had a positive return on equity of 4.16% and a negative net margin of 0.38%. The company had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.74 billion. During the same period last year, the firm earned $0.12 EPS. The firm’s revenue for the quarter was up 25.9% on a year-over-year basis. Equities analysts expect that BrightSpring Health Services, Inc. will post 0.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BTSG. Wells Fargo & Company lifted their target price on BrightSpring Health Services from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Tuesday, May 13th. Mizuho set a $26.00 target price on BrightSpring Health Services in a research note on Monday, May 5th. Finally, Morgan Stanley lifted their target price on BrightSpring Health Services from $20.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.56.

Hedge Funds Weigh In On BrightSpring Health Services

Hedge funds have recently modified their holdings of the company. Quarry LP acquired a new position in shares of BrightSpring Health Services during the 4th quarter valued at $29,000. IFP Advisors Inc grew its holdings in shares of BrightSpring Health Services by 273,666.7% in the 1st quarter. IFP Advisors Inc now owns 8,213 shares of the company’s stock worth $149,000 after acquiring an additional 8,210 shares during the last quarter. Highland Capital Management LLC acquired a new position in shares of BrightSpring Health Services in the 1st quarter worth $181,000. Envestnet Asset Management Inc. acquired a new position in shares of BrightSpring Health Services in the 4th quarter worth $188,000. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of BrightSpring Health Services in the 4th quarter worth $206,000.

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.