315,463 Shares in BrightSpring Health Services, Inc. $BTSG Purchased by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada Inc. acquired 315,463 BrightSpring shares during the second quarter, worth approximately $22.1 million and representing 0.16% of the company. Several other institutional investors, including Manulife, State Street, Jane Street and Bank of America, also increased their positions or initiated stakes.
• BrightSpring reported quarterly earnings of $0.45 per share, beating estimates of $0.40, while revenue rose 23% year over year to $3.87 billion. Shares opened at $60.73, down 1.1%, with a market capitalization of about $12.02 billion.
• Analysts remain broadly bullish, with the stock carrying a consensus “Buy” rating and an average price target of $70.71; published targets range from $71 to $90.

TD Waterhouse Canada Inc. acquired a new position in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 315,463 shares of the company's stock, valued at approximately $22,054,000. TD Waterhouse Canada Inc. owned 0.16% of BrightSpring Health Services as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company purchased a new stake in shares of BrightSpring Health Services during the 2nd quarter worth approximately $239,377,000. The Manufacturers Life Insurance Company grew its holdings in BrightSpring Health Services by 936.4% during the second quarter. The Manufacturers Life Insurance Company now owns 2,276,583 shares of the company's stock valued at $53,705,000 after purchasing an additional 2,056,920 shares during the period. State Street Corp increased its position in BrightSpring Health Services by 99.5% in the fourth quarter. State Street Corp now owns 4,033,149 shares of the company's stock worth $151,041,000 after buying an additional 2,011,095 shares during the last quarter. Jane Street Group LLC raised its stake in shares of BrightSpring Health Services by 855.4% in the second quarter. Jane Street Group LLC now owns 2,076,730 shares of the company's stock valued at $48,990,000 after buying an additional 1,859,369 shares during the period. Finally, Bank of America Corp DE bought a new stake in shares of BrightSpring Health Services in the second quarter valued at $127,475,000.

BrightSpring Health Services Stock Down 1.1%

Shares of NASDAQ BTSG opened at $60.73 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.59 and a debt-to-equity ratio of 1.06. The company has a market cap of $12.02 billion, a P/E ratio of 36.58, a P/E/G ratio of 0.72 and a beta of 1.84. BrightSpring Health Services, Inc. has a 52 week low of $23.69 and a 52 week high of $73.75. The business has a 50-day simple moving average of $65.10 and a two-hundred day simple moving average of $55.54.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.05. BrightSpring Health Services had a return on equity of 16.73% and a net margin of 2.55%.The firm had revenue of $3.87 billion for the quarter, compared to analysts' expectations of $3.66 billion. During the same period in the prior year, the business posted $0.22 earnings per share. The company's revenue was up 23.0% on a year-over-year basis. Research analysts anticipate that BrightSpring Health Services, Inc. will post 1.82 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Zacks Research raised BrightSpring Health Services from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 4th. Raymond James Financial assumed coverage on shares of BrightSpring Health Services in a report on Thursday, July 9th. They set an "outperform" rating and a $80.00 price objective on the stock. The Goldman Sachs Group began coverage on shares of BrightSpring Health Services in a research note on Monday, June 8th. They issued a "buy" rating and a $71.00 target price for the company. BTIG Research reissued a "buy" rating and issued a $90.00 price target on shares of BrightSpring Health Services in a research report on Thursday, August 13th. Finally, Guggenheim began coverage on shares of BrightSpring Health Services in a research note on Monday, July 13th. They set a "buy" rating and a $81.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating and eighteen have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $70.71.

BrightSpring Health Services Company Profile

BrightSpring Health Services NASDAQ: BTSG is a leading provider of home and community-based care and workforce solutions aimed at seniors, individuals with disabilities and those facing behavioral health challenges. The company's operations encompass a broad spectrum of services, including personal care, skilled nursing, therapy, habilitation and supported living, as well as specialized behavioral health programs delivered through both clinical and non-clinical channels.

Through its network of subsidiary brands, BrightSpring offers integrated care in the patient's home environment, fostering independence and improving quality of life.

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