The Manufacturers Life Insurance Company Raises Stake in BrightSpring Health Services, Inc. (NASDAQ:BTSG)

The Manufacturers Life Insurance Company boosted its position in BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 10.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,026 shares of the company’s stock after buying an additional 10,854 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.07% of BrightSpring Health Services worth $1,329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. nVerses Capital LLC purchased a new stake in BrightSpring Health Services in the second quarter worth approximately $55,000. Ameritas Investment Partners Inc. purchased a new stake in BrightSpring Health Services in the first quarter worth approximately $58,000. California State Teachers Retirement System purchased a new stake in BrightSpring Health Services in the first quarter worth approximately $59,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in BrightSpring Health Services in the second quarter worth approximately $126,000. Finally, Arizona State Retirement System purchased a new stake in BrightSpring Health Services in the second quarter worth approximately $163,000.

Insiders Place Their Bets

In other news, major shareholder Kkr Group Partnership L.P. acquired 11,619,998 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was acquired at an average price of $11.13 per share, for a total transaction of $129,330,577.74. Following the completion of the acquisition, the insider now owns 92,959,984 shares in the company, valued at $1,034,644,621.92. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Analyst Ratings Changes

BTSG has been the subject of several recent research reports. The Goldman Sachs Group lowered their price objective on BrightSpring Health Services from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, August 9th. BTIG Research boosted their price objective on BrightSpring Health Services from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Guggenheim boosted 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. Finally, KeyCorp initiated coverage on BrightSpring Health Services in a research report on Friday. They issued a “sector weight” rating for the company. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.05.

BrightSpring Health Services Trading Down 0.1 %

Shares of BrightSpring Health Services stock opened at $15.16 on Friday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.00 and a current ratio of 1.33. The business has a 50 day moving average of $13.38 and a 200 day moving average of $11.89. BrightSpring Health Services, Inc. has a 52 week low of $7.85 and a 52 week high of $15.47.

BrightSpring Health Services (NASDAQ:BTSG) last announced its 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 company had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.61 billion. The firm’s quarterly revenue was up 26.0% on a year-over-year basis. On average, equities research analysts predict that BrightSpring Health Services, Inc. will post 0.57 EPS for the current fiscal year.

BrightSpring Health Services 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.