TD Waterhouse Canada Inc. Acquires 91,252 Shares of BrightSpring Health Services, Inc. $BTSG

Key Points

• TD Waterhouse Canada increased its BrightSpring Health Services stake by 28.9%, purchasing 91,252 additional shares and ending the quarter with 406,715 shares valued at approximately $23.3 million.
• Institutional interest remains strong, with several major investors—including Manufacturers Life Insurance, Bank of America, and Bank of New York Mellon—establishing or expanding positions in BTSG.
• Analysts maintain a bullish outlook, with the stock receiving a consensus “Moderate Buy” rating and an average price target of $70.71. BrightSpring also exceeded quarterly earnings and revenue expectations, reporting $0.45 EPS and $3.87 billion in revenue.

TD Waterhouse Canada Inc. lifted its stake in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 28.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 406,715 shares of the company's stock after purchasing an additional 91,252 shares during the period. TD Waterhouse Canada Inc. owned about 0.21% of BrightSpring Health Services worth $23,337,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company acquired a new position in shares of BrightSpring Health Services during the second quarter worth $239,377,000. Bank of America Corp DE purchased a new position in shares of BrightSpring Health Services during the second quarter worth approximately $127,475,000. Bank of New York Mellon Corp purchased a new position in shares of BrightSpring Health Services during the second quarter worth approximately $118,162,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of BrightSpring Health Services by 109.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,370,440 shares of the company's stock valued at $58,394,000 after acquiring an additional 716,949 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of BrightSpring Health Services by 236.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 860,134 shares of the company's stock valued at $36,151,000 after acquiring an additional 604,232 shares during the period.

Analyst Ratings Changes

Several research firms recently commented on BTSG. Morgan Stanley upped their price target on shares of BrightSpring Health Services from $71.00 to $80.00 and gave the company an "overweight" rating in a research report on Tuesday, July 14th. Wall Street Zen downgraded shares of BrightSpring Health Services from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 23rd. KeyCorp restated an "overweight" rating on shares of BrightSpring Health Services in a research note on Monday, August 3rd. Wells Fargo & Company lifted their price objective on shares of BrightSpring Health Services from $61.00 to $78.00 and gave the company an "overweight" rating in a research note on Monday, July 13th. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of BrightSpring Health Services in a report on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $70.71.

BrightSpring Health Services Stock Performance

NASDAQ:BTSG opened at $60.87 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.59 and a quick ratio of 1.22. The firm has a market cap of $12.04 billion, a price-to-earnings ratio of 36.67, a price-to-earnings-growth ratio of 0.79 and a beta of 1.87. The firm's fifty day moving average price is $59.73 and its 200 day moving average price is $59.40. BrightSpring Health Services, Inc. has a 1-year low of $29.01 and a 1-year high of $73.75.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The company reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.40 by $0.05. BrightSpring Health Services had a net margin of 2.55% and a return on equity of 16.73%. The company had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the prior year, the firm earned $0.22 EPS. BrightSpring Health Services's quarterly revenue was up 23.0% on a year-over-year basis. On average, sell-side analysts expect that BrightSpring Health Services, Inc. will post 1.64 EPS for the current year.

About BrightSpring Health Services

BrightSpring Health Services, Inc is a U.S. provider of pharmacy and health services focused on individuals with complex or chronic medical needs. The company delivers care across home and community-based settings, serving older adults, people with disabilities, and patients requiring specialized support.

Its services include pharmacy care through PharMerica, home health and hospice, primary and urgent care, behavioral health, rehabilitation, and personal care. BrightSpring also provides residential and community-based services, including assistance with daily living, clinical support, and care coordination for individuals who need ongoing support outside traditional hospital settings.

The company was formed in 2019 through the combination of PharMerica and ResCare.

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