BrightSpring Health Services, Inc. (NASDAQ:BTSG) Major Shareholder Phoenix Aggregator L.P. Kkr Sells 2,100,000 Shares

BrightSpring Health Services, Inc. (NASDAQ:BTSG - Get Free Report) major shareholder Phoenix Aggregator L.P. Kkr sold 2,100,000 shares of BrightSpring Health Services stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $21.15, for a total transaction of $44,415,000.00. Following the completion of the sale, the insider now directly owns 77,096,337 shares of the company's stock, valued at approximately $1,630,587,527.55. The trade was a 2.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Large shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

Phoenix Aggregator L.P. Kkr also recently made the following trade(s):

• On Thursday, June 12th, Phoenix Aggregator L.P. Kkr sold 13,288,101 shares of BrightSpring Health Services stock. The stock was sold at an average price of $21.15, for a total value of $281,043,336.15.

BrightSpring Health Services Stock Performance

BTSG traded up $0.47 during trading on Thursday, reaching $23.08. 1,887,986 shares of the company's stock were exchanged, compared to its average volume of 1,600,034. The company has a quick ratio of 1.37, a current ratio of 1.73 and a debt-to-equity ratio of 1.48. The business has a 50 day moving average price of $21.54 and a 200 day moving average price of $19.82. BrightSpring Health Services, Inc. has a fifty-two week low of $10.15 and a fifty-two week high of $25.57. The company has a market capitalization of $4.06 billion, a P/E ratio of 82.43 and a beta of 2.58.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last issued its earnings results on Friday, May 2nd. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.09 by $0.10. The company had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.74 billion. BrightSpring Health Services had a net margin of 0.49% and a return on equity of 7.76%. The firm's revenue for the quarter was up 25.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.12 EPS. As a group, analysts predict that BrightSpring Health Services, Inc. will post 0.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Mizuho set a $26.00 price target on shares of BrightSpring Health Services in a report on Monday, May 5th. Wells Fargo & Company raised their target price on BrightSpring Health Services from $25.00 to $27.00 and gave the company an "overweight" rating in a report on Tuesday, May 13th. TD Cowen assumed coverage on BrightSpring Health Services in a research report on Monday. They issued a "buy" rating and a $37.00 price target on the stock. Finally, Morgan Stanley raised their price objective on shares of BrightSpring Health Services from $20.00 to $25.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, BrightSpring Health Services has an average rating of "Moderate Buy" and a consensus price target of $24.90.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its stake in shares of BrightSpring Health Services by 2,526.5% in the first quarter. GAMMA Investing LLC now owns 14,472 shares of the company's stock worth $262,000 after acquiring an additional 13,921 shares during the last quarter. Rhumbline Advisers raised its position in BrightSpring Health Services by 4.8% in the 1st quarter. Rhumbline Advisers now owns 77,100 shares of the company's stock worth $1,395,000 after purchasing an additional 3,517 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in BrightSpring Health Services during the 1st quarter worth $561,000. Raymond James Financial Inc. bought a new position in BrightSpring Health Services in the 4th quarter valued at $18,257,000. Finally, Deutsche Bank AG increased its stake in shares of BrightSpring Health Services by 80.9% in the 4th quarter. Deutsche Bank AG now owns 57,713 shares of the company's stock valued at $983,000 after buying an additional 25,810 shares during the period.

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.

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