HBK Investments L P Acquires 50,000 Shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG)

HBK Investments L P boosted its holdings in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 7.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 750,000 shares of the company’s stock after acquiring an additional 50,000 shares during the quarter. HBK Investments L P’s holdings in BrightSpring Health Services were worth $11,010,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. UBS Group lifted their target price on BrightSpring Health Services from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Mizuho increased their target price on shares of BrightSpring Health Services from $17.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. BTIG Research upped their price objective on shares of BrightSpring Health Services from $15.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. 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. Finally, The Goldman Sachs Group cut their price target on BrightSpring Health Services from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, August 9th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $17.21.

BrightSpring Health Services Stock Up 1.7 %

BTSG opened at $19.05 on Friday. BrightSpring Health Services, Inc. has a fifty-two week low of $7.85 and a fifty-two week high of $20.25. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 0.97. The company’s 50-day moving average is $16.60 and its 200 day moving average is $13.46.

BrightSpring Health Services (NASDAQ:BTSG) last announced its earnings results on Friday, November 1st. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). The business had revenue of $2.91 billion during the quarter, compared to analysts’ expectations 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 revenue was up 28.8% on a year-over-year basis. As a group, research analysts anticipate that BrightSpring Health Services, Inc. will post 0.59 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Kkr Group Partnership L.P. bought 11,619,998 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was acquired at an average cost 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 of the company’s stock, valued at $1,034,644,621.92. This represents a 14.29 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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.