LMR Partners LLP Makes New Investment in BrightSpring Health Services, Inc. (NASDAQ:BTSG)

LMR Partners LLP bought a new position in BrightSpring Health Services, Inc. (NASDAQ:BTSG) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 33,563 shares of the company’s stock, valued at approximately $493,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. nVerses Capital LLC purchased a new position in BrightSpring Health Services during the second quarter worth about $55,000. Ameritas Investment Partners Inc. acquired a new position in BrightSpring Health Services during the 1st quarter worth approximately $58,000. California State Teachers Retirement System purchased a new position in shares of BrightSpring Health Services during the 1st quarter worth approximately $59,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of BrightSpring Health Services during the 2nd quarter worth approximately $126,000. Finally, Arizona State Retirement System acquired a new stake in shares of BrightSpring Health Services in the 2nd quarter valued at approximately $163,000.

BrightSpring Health Services Trading Down 0.2 %

Shares of BrightSpring Health Services stock opened at $18.65 on Wednesday. BrightSpring Health Services, Inc. has a 1 year low of $7.85 and a 1 year high of $20.25. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 0.97. The business has a 50 day moving average price of $16.03 and a 200 day moving average price of $13.16. The company has a market capitalization of $3.25 billion and a P/E ratio of -71.73.

BrightSpring Health Services (NASDAQ:BTSG) last announced its earnings results on Friday, November 1st. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.07). The firm 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%. BrightSpring Health Services’s revenue for the quarter was up 28.8% on a year-over-year basis. Sell-side analysts anticipate that BrightSpring Health Services, Inc. will post 0.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Mizuho increased their price objective on BrightSpring Health Services from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Guggenheim increased their price target on shares of BrightSpring Health Services from $15.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. The Goldman Sachs Group reduced their price objective 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. KeyCorp began coverage on shares of BrightSpring Health Services in a research report on Friday, October 11th. They set a “sector weight” rating on the stock. Finally, BTIG Research lifted their price target on shares of BrightSpring Health Services from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $16.79.

Insider Activity at BrightSpring Health Services

In related news, major shareholder Kkr Group Partnership L.P. bought 11,619,998 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was bought at an average price of $11.13 per share, with a total value of $129,330,577.74. Following the completion of 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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.