Kohlberg Kravis Roberts & Co. L.P. Has $1.78 Billion Stake in BrightSpring Health Services, Inc. $BTSG

Kohlberg Kravis Roberts & Co. L.P. trimmed its position in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 32.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,824,259 shares of the company’s stock after selling 20,117,773 shares during the quarter. BrightSpring Health Services accounts for approximately 33.3% of Kohlberg Kravis Roberts & Co. L.P.’s investment portfolio, making the stock its largest position. Kohlberg Kravis Roberts & Co. L.P. owned 21.57% of BrightSpring Health Services worth $1,782,132,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of BTSG. Vanguard Group Inc. lifted its holdings in shares of BrightSpring Health Services by 30.5% in the 4th quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company’s stock worth $469,385,000 after acquiring an additional 2,928,953 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in BrightSpring Health Services by 936.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,276,583 shares of the company’s stock worth $53,705,000 after purchasing an additional 2,056,920 shares during the period. State Street Corp raised its position in BrightSpring Health Services by 99.5% in the 4th quarter. State Street Corp now owns 4,033,149 shares of the company’s stock worth $151,041,000 after purchasing an additional 2,011,095 shares during the period. Jane Street Group LLC lifted its stake in 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 worth $48,990,000 after purchasing an additional 1,859,369 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in BrightSpring Health Services by 13.4% in the fourth quarter. Invesco Ltd. now owns 10,595,232 shares of the company’s stock worth $396,791,000 after purchasing an additional 1,248,107 shares during the last quarter.

Insider Buying and Selling at BrightSpring Health Services

In other news, insider Jon B. Rousseau sold 130,000 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $58.75, for a total transaction of $7,637,500.00. Following the transaction, the insider owned 1,194,503 shares in the company, valued at approximately $70,177,051.25. This trade represents a 9.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Lisa A. Nalley sold 35,000 shares of BrightSpring Health Services stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $58.75, for a total value of $2,056,250.00. Following the completion of the sale, the insider owned 131,948 shares of the company’s stock, valued at $7,751,945. The trade was a 20.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.80% of the stock is currently owned by corporate insiders.

BrightSpring Health Services Stock Performance

BrightSpring Health Services stock opened at $72.91 on Monday. The company has a 50 day moving average price of $65.20 and a 200-day moving average price of $50.89. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.38 and a current ratio of 1.74. BrightSpring Health Services, Inc. has a fifty-two week low of $19.01 and a fifty-two week high of $73.40. The company has a market capitalization of $14.38 billion, a PE ratio of 51.71, a P/E/G ratio of 0.92 and a beta of 1.79.

BrightSpring Health Services (NASDAQ:BTSG) last announced its quarterly earnings data on Friday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.10. The company had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.39 billion. BrightSpring Health Services had a return on equity of 14.63% and a net margin of 2.27%.BrightSpring Health Services’s revenue was up 25.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.14 earnings per share. As a group, equities analysts forecast that BrightSpring Health Services, Inc. will post 1.7 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. TD Cowen upped their target price on BrightSpring Health Services from $65.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. KeyCorp raised their price target on BrightSpring Health Services from $60.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Bank of America upped their price objective on BrightSpring Health Services from $66.00 to $77.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. BTIG Research increased their target price on BrightSpring Health Services from $65.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Finally, Stephens lifted their target price on BrightSpring Health Services from $53.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, BrightSpring Health Services presently has a consensus rating of “Buy” and a consensus target price of $70.12.

About BrightSpring Health Services

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.