Quantbot Technologies LP Raises Stake in BrightSpring Health Services, Inc. (NASDAQ:BTSG)

Quantbot Technologies LP lifted its stake in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 47.8% during the 3rd quarter, Holdings Channel reports. The fund owned 37,432 shares of the company’s stock after buying an additional 12,107 shares during the quarter. Quantbot Technologies LP’s holdings in BrightSpring Health Services were worth $550,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC increased its position in BrightSpring Health Services by 17.2% during the third quarter. FMR LLC now owns 18,169,187 shares of the company’s stock worth $266,724,000 after purchasing an additional 2,664,582 shares during the last quarter. Vanguard Group Inc. acquired a new stake in shares of BrightSpring Health Services during the 1st quarter worth approximately $54,638,000. Magnetar Financial LLC raised its position in shares of BrightSpring Health Services by 46.9% during the 2nd quarter. Magnetar Financial LLC now owns 1,188,302 shares of the company’s stock valued at $13,499,000 after buying an additional 379,149 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in BrightSpring Health Services by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 440,335 shares of the company’s stock valued at $6,464,000 after acquiring an additional 6,326 shares during the last quarter. Finally, Lisanti Capital Growth LLC purchased a new position in BrightSpring Health Services in the third quarter worth approximately $4,659,000.

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 the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were purchased at an average price of $11.13 per share, with a total value of $129,330,577.74. Following the completion of the acquisition, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analysts Forecast Growth

BTSG has been the topic of several recent analyst reports. The Goldman Sachs Group decreased their price target on BrightSpring Health Services from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Mizuho upped their target price on shares of BrightSpring Health Services from $17.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Wells Fargo & Company boosted their price target on shares of BrightSpring Health Services from $17.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. BTIG Research increased their price objective on shares of BrightSpring Health Services from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, Guggenheim boosted their target price 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. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $17.21.

BrightSpring Health Services Stock Down 1.1 %

BrightSpring Health Services stock opened at $19.08 on Tuesday. The firm has a market capitalization of $3.32 billion and a P/E ratio of -73.38. The stock’s fifty day simple moving average is $16.85 and its 200-day simple moving average is $13.64. BrightSpring Health Services, Inc. has a twelve month low of $7.85 and a twelve month high of $20.25. The company has a current ratio of 1.35, a quick ratio of 0.97 and a debt-to-equity ratio of 1.63.

BrightSpring Health Services (NASDAQ:BTSG) last posted its quarterly earnings results on Friday, November 1st. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). The company had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.72 billion. BrightSpring Health Services had a negative net margin of 0.38% and a positive return on equity of 4.16%. The firm’s quarterly revenue was up 28.8% on a year-over-year basis. As a group, equities analysts expect that BrightSpring Health Services, Inc. will post 0.59 earnings per share for the current fiscal year.

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.