BrightSpring Health Services, Inc. $BTSG Shares Acquired by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. increased its stake in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 28.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 406,715 shares of the company’s stock after purchasing an additional 91,252 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in BrightSpring Health Services were worth $23,337,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its holdings in shares of BrightSpring Health Services by 48.7% during the first quarter. Bank of America Corp DE now owns 1,534,154 shares of the company’s stock worth $65,370,000 after purchasing an additional 502,786 shares during the last quarter. Ausbil Investment Management Ltd acquired a new position in shares of BrightSpring Health Services during the 2nd quarter valued at about $2,005,000. Wealthstar Advisors LLC purchased a new position in BrightSpring Health Services during the first quarter worth approximately $1,525,000. Bellars Harris Wealth Management LLC purchased a new stake in BrightSpring Health Services during the second quarter valued at about $4,394,000. Finally, OP Asset Management Ltd acquired a new stake in BrightSpring Health Services during the first quarter worth about $753,000.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Wall Street Zen downgraded BrightSpring Health Services from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 23rd. Morgan Stanley boosted their target price on BrightSpring Health Services from $71.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. KeyCorp reissued an “overweight” rating on shares of BrightSpring Health Services in a research note on Monday, August 3rd. Bank of America raised their target price on shares of BrightSpring Health Services from $66.00 to $77.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $70.00 target price on shares of BrightSpring Health Services in a report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $70.71.

BrightSpring Health Services Stock Down 2.4%

Shares of NASDAQ BTSG opened at $60.87 on Friday. BrightSpring Health Services, Inc. has a 1 year low of $29.01 and a 1 year high of $73.75. The firm has a market cap of $12.04 billion, a price-to-earnings ratio of 36.67, a PEG ratio of 0.79 and a beta of 1.87. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.22 and a current ratio of 1.59. The stock’s 50-day simple moving average is $59.73 and its 200-day simple moving average is $59.40.

BrightSpring Health Services (NASDAQ:BTSG) last issued its quarterly earnings results on Friday, July 31st. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05. BrightSpring Health Services had a return on equity of 16.73% and a net margin of 2.55%. The firm 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 business posted $0.22 earnings per share. BrightSpring Health Services’s revenue for the quarter was up 23.0% on a year-over-year basis. As a group, equities analysts anticipate that BrightSpring Health Services, Inc. will post 1.64 earnings per share for the current fiscal year.

BrightSpring Health Services Profile

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.