The Manufacturers Life Insurance Company Increases Stock Position in BrightSpring Health Services, Inc. (NASDAQ:BTSG)

The Manufacturers Life Insurance Company lifted its holdings in BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 67.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 196,207 shares of the company’s stock after buying an additional 79,181 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.11% of BrightSpring Health Services worth $2,880,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of BTSG. California State Teachers Retirement System bought a new position in BrightSpring Health Services in the 1st quarter worth about $59,000. Miracle Mile Advisors LLC bought a new position in shares of BrightSpring Health Services in the second quarter worth approximately $267,000. Bank of New York Mellon Corp grew its holdings in shares of BrightSpring Health Services by 16.1% during the second quarter. Bank of New York Mellon Corp now owns 156,911 shares of the company’s stock valued at $1,783,000 after buying an additional 21,760 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of BrightSpring Health Services during the second quarter valued at approximately $126,000. Finally, nVerses Capital LLC purchased a new position in BrightSpring Health Services in the 2nd quarter worth approximately $55,000.

BrightSpring Health Services Trading Down 1.2 %

Shares of NASDAQ BTSG opened at $18.28 on Friday. BrightSpring Health Services, Inc. has a 1-year low of $7.85 and a 1-year high of $20.25. The business has a fifty day moving average price of $17.14 and a 200 day moving average price of $13.83. The stock has a market capitalization of $3.18 billion and a P/E ratio of -70.31. 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 (NASDAQ:BTSG) last released its quarterly earnings results on Friday, November 1st. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.07). BrightSpring Health Services had a negative net margin of 0.38% and a positive return on equity of 4.16%. The firm had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.72 billion. BrightSpring Health Services’s revenue for the quarter was up 28.8% compared to the same quarter last year. Equities research analysts expect that BrightSpring Health Services, Inc. will post 0.59 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BTSG has been the topic of several recent analyst reports. Mizuho increased their target price 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. Guggenheim increased their price objective on BrightSpring Health Services from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. BTIG Research upped their target price on shares of BrightSpring Health Services from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Wells Fargo & Company lifted their price target on shares of BrightSpring Health Services from $17.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Finally, UBS Group increased their price objective on shares of BrightSpring Health Services from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $17.21.

Insider Activity at BrightSpring Health Services

In other BrightSpring Health Services news, major shareholder Kkr Group Partnership L.P. bought 11,619,998 shares of BrightSpring Health Services stock in a transaction that occurred on Wednesday, September 11th. The shares were bought at an average cost of $11.13 per share, with a total value of $129,330,577.74. Following the transaction, the insider now directly owns 92,959,984 shares of the company’s stock, valued at approximately $1,034,644,621.92. This represents a 14.29 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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.