The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. BrightSpring Health Services Inc shares valued at $129,330,578 were sold by Walgreens Boots Alliance, Inc. on Sep 11 ’24. At $11.13 per share, Walgreens Boots Alliance, Inc. sold 11,619,998 shares. The insider’s holdings dropped to 23,239,996 shares worth approximately $345.58 million following the completion of this transaction.
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Also, KKR Group Partnership L.P. purchased 11,619,998 shares, netting a total of over 129,330,578 in proceeds. Following the buying of shares at $11.13 each, the insider now holds 92,959,984 shares.
Before that, KKR Phoenix Aggregator L.P. had added 11,619,998 shares to its account. In a trade valued at $129,330,578, the 10% Owner bought BrightSpring Health Services Inc shares for $11.13 each. Upon closing the transaction, the insider’s holdings increased to 11,619,998 shares, worth approximately $1.38 billion.
As published in their initiating research note from BTIG Research on June 21, 2024, BrightSpring Health Services Inc [BTSG] has been a Buy and the price target has been revised to $15. Analysts at HSBC Securities started covering the stock with ‘”a Buy”‘ outlook in a report released in early March. As of February 27, 2024, Deutsche Bank has increased its “Hold” rating to a “Buy” for BTSG. Earlier on February 20, 2024, Wells Fargo initiated its rating. Their recommendation was “an Overweight” for BTSG stock.
Analyzing BTSG Stock Performance
During the last five days, there has been a surge of approximately 9.99%. Over the course of the year, BrightSpring Health Services Inc shares have jumped approximately 35.18%.
Support And Resistance Levels for BrightSpring Health Services Inc (BTSG)
According to the 24-hour chart, there is a support level at 14.52, which, if violated, would cause prices to drop to 14.17. In the upper region, resistance lies at 15.30. The next price resistance is at 15.73. RSI (Relative Strength Index) is 79.78 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.03, which suggests the price will increase in the coming days. Percent R is at 16.83%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
