Healthcare of Ontario Pension Plan Trust Fund Sells 470,000 Shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG)

Healthcare of Ontario Pension Plan Trust Fund trimmed its stake in BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 14.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,780,000 shares of the company’s stock after selling 470,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in BrightSpring Health Services were worth $40,810,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of BTSG. Vanguard Group Inc. bought a new position in shares of BrightSpring Health Services in the first quarter worth approximately $54,638,000. American International Group Inc. bought a new position in BrightSpring Health Services during the first quarter valued at approximately $289,000. Price T Rowe Associates Inc. MD bought a new position in BrightSpring Health Services during the first quarter valued at approximately $16,260,000. California State Teachers Retirement System bought a new position in BrightSpring Health Services during the first quarter valued at approximately $59,000. Finally, Farallon Capital Management LLC bought a new position in BrightSpring Health Services during the first quarter valued at approximately $239,000.

Insider Activity

In other BrightSpring Health Services news, major shareholder Kkr Group Partnership L.P. acquired 11,619,998 shares of BrightSpring Health Services stock in a transaction that occurred on Wednesday, September 11th. The stock was bought at an average cost of $11.13 per share, for a total transaction of $129,330,577.74. Following the acquisition, the insider now owns 92,959,984 shares of the company’s stock, valued at $1,034,644,621.92. This represents a 14.29 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Analyst Upgrades and Downgrades

A number of research analysts have commented on BTSG shares. KeyCorp began coverage on shares of BrightSpring Health Services in a research report on Friday, October 11th. They set a “sector weight” rating on the stock. Guggenheim increased their price objective on BrightSpring Health Services from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. BTIG Research increased their price objective on BrightSpring Health Services from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Wells Fargo & Company increased their price objective on BrightSpring Health Services from $17.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, The Goldman Sachs Group dropped their price objective on BrightSpring Health Services from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, August 9th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.21.

BrightSpring Health Services Price Performance

Shares of NASDAQ:BTSG opened at $19.05 on Thursday. BrightSpring Health Services, Inc. has a 1-year low of $7.85 and a 1-year high of $20.25. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 0.97. The business has a fifty day moving average price of $16.51 and a 200-day moving average price of $13.42. The company has a market capitalization of $3.32 billion and a PE ratio of -74.77.

BrightSpring Health Services (NASDAQ:BTSG) last issued its quarterly earnings results on Friday, November 1st. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.07). BrightSpring Health Services had a negative net margin of 0.38% and a positive return on equity of 4.16%. The company had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.72 billion. The business’s revenue was up 28.8% compared to the same quarter last year. As a group, equities analysts expect that BrightSpring Health Services, Inc. will post 0.59 EPS for the current fiscal 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.