BrightSpring Health Services, Inc. $BTSG Stock Holdings Lessened by Walgreens Boots Alliance Inc.

Key Points

• Walgreens Boots Alliance Inc. has significantly reduced its investment in BrightSpring Health Services by 51.6%, selling 12 million shares to hold approximately 11.2 million shares, which now accounts for about 6.6% of its portfolio.
• BrightSpring Health Services reported better-than-expected financial results, with $0.22 earnings per share for the last quarter, exceeding the consensus estimate of $0.19 and showing a 15.3% year-over-year revenue increase.
• Analysts generally maintain a positive outlook on BrightSpring, with ten rating the stock as a Buy and a target price averaging $25.67, despite some slight downgrades from previous strong-buy ratings.

Walgreens Boots Alliance Inc. decreased its holdings in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 51.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 11,239,996 shares of the company's stock after selling 12,000,000 shares during the period. BrightSpring Health Services accounts for about 6.6% of Walgreens Boots Alliance Inc.'s portfolio, making the stock its 2nd largest position. Walgreens Boots Alliance Inc. owned 6.45% of BrightSpring Health Services worth $203,332,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. grew its stake in BrightSpring Health Services by 264.7% in the first quarter. T. Rowe Price Investment Management Inc. now owns 5,772,772 shares of the company's stock valued at $104,430,000 after purchasing an additional 4,189,805 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of BrightSpring Health Services by 5.8% in the 1st quarter. Northern Trust Corp now owns 566,623 shares of the company's stock valued at $10,250,000 after buying an additional 31,289 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in shares of BrightSpring Health Services in the 1st quarter worth approximately $656,000. Informed Momentum Co LLC bought a new position in shares of BrightSpring Health Services during the 1st quarter worth approximately $3,237,000. Finally, Nuveen LLC purchased a new stake in BrightSpring Health Services during the first quarter valued at approximately $29,333,000.

Analyst Ratings Changes

Several equities analysts have issued reports on BTSG shares. Mizuho set a $26.00 price target on shares of BrightSpring Health Services in a report on Monday, May 5th. Wall Street Zen downgraded BrightSpring Health Services from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. Wells Fargo & Company increased their price target on BrightSpring Health Services from $25.00 to $27.00 and gave the company an "overweight" rating in a research note on Tuesday, May 13th. TD Cowen assumed coverage on BrightSpring Health Services in a research note on Monday, June 23rd. They set a "buy" rating and a $37.00 price target on the stock. Finally, Cowen restated a "buy" rating on shares of BrightSpring Health Services in a report on Monday, August 4th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, BrightSpring Health Services presently has a consensus rating of "Moderate Buy" and an average price target of $25.67.

Insider Buying and Selling

In related news, insider Jon B. Rousseau sold 531,840 shares of the firm's stock in a transaction on Thursday, June 12th. The shares were 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 approximately $25,754,892.75. This trade represents a 30.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction, the insider directly owned 77,096,337 shares of the company's stock, valued at $1,630,587,527.55. The trade was a 2.65% decrease in their position. 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 in the last ninety days. Corporate insiders own 3.40% of the company's stock.

BrightSpring Health Services Stock Performance

NASDAQ BTSG traded up $0.08 on Friday, hitting $23.81. 313,958 shares of the company's stock traded hands, compared to its average volume of 2,051,747. The firm has a market capitalization of $4.22 billion, a PE ratio of 76.64 and a beta of 2.25. BrightSpring Health Services, Inc. has a 1-year low of $12.35 and a 1-year high of $25.57. The firm's 50-day moving average price is $21.71 and its two-hundred day moving average price is $20.55. The company has a current ratio of 1.76, a quick ratio of 1.34 and a debt-to-equity ratio of 1.43.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last issued its earnings results on Friday, August 1st. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.03. The firm had revenue of $3.15 billion during the quarter, compared to analysts' expectations of $2.99 billion. BrightSpring Health Services had a net margin of 0.55% and a return on equity of 9.29%. The firm's revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.10 earnings per share. BrightSpring Health Services has set its FY 2025 guidance at EPS. As a group, analysts expect that BrightSpring Health Services, Inc. will post 0.59 EPS for the current year.

BrightSpring Health Services Company 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.