BrightSpring Health Services, Inc. (NASDAQ:BTSG) Major Shareholder Buys $129,330,577.74 in Stock

BrightSpring Health Services, Inc. (NASDAQ:BTSG) major shareholder Kkr Group Partnership L.P. bought 11,619,998 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were bought at an average cost of $11.13 per share, for a total transaction 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. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

BrightSpring Health Services Stock Performance

BrightSpring Health Services stock opened at $13.85 on Monday. The business has a 50 day simple moving average of $12.15 and a 200 day simple moving average of $11.10. BrightSpring Health Services, Inc. has a one year low of $7.85 and a one year high of $14.31. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.00 and a current ratio of 1.33.

BrightSpring Health Services (NASDAQ:BTSG) last issued its earnings results on Friday, August 2nd. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.08). The firm had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.61 billion. The business’s quarterly revenue was up 26.0% on a year-over-year basis. Research analysts anticipate that BrightSpring Health Services, Inc. will post 0.57 EPS for the current fiscal year.

Institutional Trading of BrightSpring Health Services

Several large investors have recently added to or reduced their stakes in the company. nVerses Capital LLC bought a new stake in shares of BrightSpring Health Services during the second quarter worth $55,000. Ameritas Investment Partners Inc. bought a new stake in BrightSpring Health Services during the 1st quarter worth about $58,000. California State Teachers Retirement System acquired a new stake in BrightSpring Health Services in the 1st quarter valued at about $59,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in BrightSpring Health Services in the 2nd quarter valued at about $126,000. Finally, Arizona State Retirement System bought a new position in shares of BrightSpring Health Services in the second quarter worth about $163,000.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. 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 on the stock in a report on Friday, August 9th. BTIG Research assumed coverage on BrightSpring Health Services in a research note on Friday, June 21st. They set a “buy” rating and a $15.00 price target on the stock. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $15.32.

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.