BrightSpring Health Services (NASDAQ:BTSG) Reaches New 1-Year High After Insider Buying Activity

BrightSpring Health Services, Inc. (NASDAQ:BTSG) shares reached a new 52-week high on Monday following insider buying activity. The stock traded as high as $14.43 and last traded at $14.22, with a volume of 150542 shares trading hands. The stock had previously closed at $13.85.

Specifically, major shareholder Kkr Group Partnership L.P. purchased 11,619,998 shares of the stock in a transaction on Wednesday, September 11th. The shares were bought at an average price of $11.13 per share, for a total transaction of $129,330,577.74. Following the completion of the transaction, the insider now owns 92,959,984 shares of the company’s stock, valued at approximately $1,034,644,621.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. The Goldman Sachs Group cut their target price on shares of BrightSpring Health Services from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, August 9th. BTIG Research started coverage on BrightSpring Health Services in a research note on Friday, June 21st. They set a “buy” rating and a $15.00 price objective for the company. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $15.32.

BrightSpring Health Services Trading Up 5.2 %

The company has a quick ratio of 1.00, a current ratio of 1.33 and a debt-to-equity ratio of 1.62. The stock has a 50-day simple moving average of $12.20 and a 200 day simple moving average of $11.14.

BrightSpring Health Services (NASDAQ:BTSG) last released its quarterly earnings results on Friday, August 2nd. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.08). The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.61 billion. The business’s revenue was up 26.0% compared to the same quarter last year. On average, research analysts predict that BrightSpring Health Services, Inc. will post 0.57 EPS for the current fiscal year.

Institutional Investors Weigh In On BrightSpring Health Services

Several large investors have recently added to or reduced their stakes in the business. Silvercrest Asset Management Group LLC acquired a new stake in BrightSpring Health Services in the first quarter valued at approximately $14,179,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of BrightSpring Health Services during the 1st quarter worth $16,260,000. Capstone Investment Advisors LLC acquired a new position in shares of BrightSpring Health Services during the first quarter worth $9,722,000. TD Asset Management Inc purchased a new position in BrightSpring Health Services in the second quarter valued at $2,308,000. Finally, Vanguard Group Inc. acquired a new stake in BrightSpring Health Services in the first quarter valued at $54,638,000.

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.