Kornitzer Capital Management Inc. KS Purchases 16,490 Shares of BrightSpring Health Services, Inc. $BTSG

Kornitzer Capital Management Inc. KS raised its holdings in BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 16.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 115,460 shares of the company’s stock after buying an additional 16,490 shares during the period. Kornitzer Capital Management Inc. KS owned about 0.06% of BrightSpring Health Services worth $6,552,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. The Manufacturers Life Insurance Company bought a new stake in shares of BrightSpring Health Services during the second quarter worth approximately $239,377,000. Bank of America Corp DE bought a new position in BrightSpring Health Services during the second quarter worth about $127,475,000. Bank of New York Mellon Corp bought a new position in BrightSpring Health Services during the second quarter worth about $118,162,000. Arrowstreet Capital Limited Partnership raised its stake in 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 worth $58,394,000 after purchasing an additional 716,949 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in 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 worth $36,151,000 after purchasing an additional 604,232 shares in the last quarter.

Analyst Ratings Changes

A number of research firms have issued reports on BTSG. KeyCorp reissued an “overweight” rating on shares of BrightSpring Health Services in a report on Monday, August 3rd. Weiss Ratings raised shares of BrightSpring Health Services from a “hold (c+)” rating to a “buy (b)” rating in a report on Monday, November 2nd. Guggenheim lifted their price target on shares of BrightSpring Health Services from $81.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, November 3rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $70.00 price target on shares of BrightSpring Health Services in a research report on Monday, August 3rd. Finally, Wells Fargo & Company increased their price target on BrightSpring Health Services from $78.00 to $82.00 and gave the stock an “overweight” rating in a research report on Monday, November 2nd. Two investment analysts have rated the stock with a Strong Buy rating and seventeen have issued a Buy rating to the stock. Based on data from MarketBeat, BrightSpring Health Services presently has a consensus rating of “Buy” and an average target price of $77.81.

BrightSpring Health Services Stock Performance

Shares of BrightSpring Health Services stock opened at $67.15 on Monday. The company has a market capitalization of $13.36 billion, a price-to-earnings ratio of 36.30, a PEG ratio of 0.73 and a beta of 1.77. The company has a quick ratio of 1.22, a current ratio of 1.62 and a debt-to-equity ratio of 0.99. BrightSpring Health Services, Inc. has a 12-month low of $30.64 and a 12-month high of $73.75. The firm’s 50-day moving average price is $60.76 and its two-hundred day moving average price is $55.26.

BrightSpring Health Services (NASDAQ:BTSG) last issued its earnings results on Friday, October 30th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.47 by $0.07. BrightSpring Health Services had a net margin of 2.69% and a return on equity of 18.56%. The company had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $3.88 billion. The firm’s revenue was up 26.4% compared to the same quarter last year. On average, analysts forecast that BrightSpring Health Services, Inc. will post 1.70 earnings per share for the current fiscal year.

BrightSpring Health Services Profile

BrightSpring Health Services is a provider of home- and community-based health services in the United States. The company supports people with complex health needs, including individuals with intellectual and developmental disabilities, behavioral health conditions, and chronic or age-related illnesses.

Its services include home health and hospice care, behavioral health and rehabilitation, residential and community-based support, and pharmacy services. BrightSpring’s pharmacy operations provide prescription dispensing and related services to people receiving care in homes, community settings, and long-term care facilities.

Headquartered in Louisville, Kentucky, BrightSpring operates across the United States.