BrightSpring Health Services, Inc. (NASDAQ:BTSG) Shares Acquired by TD Asset Management Inc

Key Points

• TD Asset Management Inc increased its stake in BrightSpring Health Services by 9.7%, owning approximately 0.25% of the company, valued at $7.77 million.
• BrightSpring Health Services reported a quarterly earnings per share of $0.19, surpassing estimates by $0.10, with revenue reaching $2.88 billion, a 25.9% increase from the previous year.
• Insider activity included significant sales, with Jon B. Rousseau selling over 531,000 shares for approximately $11.57 million and major shareholder Phoenix Aggregator L.P. selling 2.1 million shares worth $44.42 million.

TD Asset Management Inc lifted its holdings in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 9.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 429,454 shares of the company's stock after purchasing an additional 37,870 shares during the quarter. TD Asset Management Inc owned about 0.25% of BrightSpring Health Services worth $7,769,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC raised its holdings in BrightSpring Health Services by 2,526.5% during the first quarter. GAMMA Investing LLC now owns 14,472 shares of the company's stock worth $262,000 after purchasing an additional 13,921 shares in the last quarter. New York State Common Retirement Fund raised its holdings in BrightSpring Health Services by 131.8% during the first quarter. New York State Common Retirement Fund now owns 37,918 shares of the company's stock worth $686,000 after purchasing an additional 21,563 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in BrightSpring Health Services by 6.8% during the first quarter. Teacher Retirement System of Texas now owns 14,650 shares of the company's stock worth $265,000 after purchasing an additional 932 shares in the last quarter. Rhumbline Advisers raised its holdings in BrightSpring Health Services by 4.8% during the first quarter. Rhumbline Advisers now owns 77,100 shares of the company's stock worth $1,395,000 after purchasing an additional 3,517 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in BrightSpring Health Services during the first quarter worth approximately $561,000.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on BTSG shares. Wells Fargo & Company raised their price objective on shares of BrightSpring Health Services from $25.00 to $27.00 and gave the stock an "overweight" rating in a report on Tuesday, May 13th. Mizuho set a $26.00 price objective on shares of BrightSpring Health Services in a report on Monday, May 5th. TD Cowen began coverage on shares of BrightSpring Health Services in a research report on Monday, June 23rd. They set a "buy" rating and a $37.00 target price on the stock. Wall Street Zen lowered shares of BrightSpring Health Services from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, Morgan Stanley raised their target price on shares of BrightSpring Health Services from $20.00 to $25.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $24.90.

BrightSpring Health Services Stock Performance

NASDAQ:BTSG traded up $0.53 during midday trading on Tuesday, reaching $19.89. The stock had a trading volume of 1,322,317 shares, compared to its average volume of 2,053,046. The firm has a fifty day simple moving average of $21.81 and a two-hundred day simple moving average of $20.52. BrightSpring Health Services, Inc. has a 12-month low of $11.06 and a 12-month high of $25.57. 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 stock has a market cap of $3.50 billion, a P/E ratio of 64.23 and a beta of 2.25.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last issued its earnings results on Friday, August 1st. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.19 by $0.03. The company had revenue of $3.15 billion for the quarter, compared to analyst estimates of $2.99 billion. BrightSpring Health Services had a net margin of 0.55% and a return on equity of 9.42%. The business's revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 EPS. On average, equities analysts expect that BrightSpring Health Services, Inc. will post 0.59 EPS for the current year.

Insider Buying and Selling at BrightSpring Health Services

In other BrightSpring Health Services news, major shareholder Phoenix Aggregator L.P. Kkr sold 2,100,000 shares of the business's 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 sale, the insider directly owned 77,096,337 shares in the company, valued at approximately $1,630,587,527.55. The trade was a 2.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jon B. Rousseau sold 531,840 shares of the business's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $21.75, for a total transaction of $11,567,520.00. Following the sale, the insider owned 1,184,133 shares in the company, valued at $25,754,892.75. The trade was a 30.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,919,941 shares of company stock worth $337,025,856 over the last 90 days. Insiders own 3.40% of the company's stock.

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.