BrightSpring Health Services Inc’s recent filing unveils that its 10% Owner Walgreens Boots Alliance, Inc. unloaded Company’s shares for reported $129.33 million on Sep 11 ’24. In the deal valued at $11.13 per share,11,619,998 shares were sold. As a result of this transaction, Walgreens Boots Alliance, Inc. now holds 23,239,996 shares worth roughly $342.33 million.
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Then, KKR Group Partnership L.P. bought 11,619,998 shares, generating $129,330,578 in total proceeds. Upon buying the shares at $11.13, the 10% Owner now owns 92,959,984 shares.
Before that, KKR Phoenix Aggregator L.P. bought 11,619,998 shares. BrightSpring Health Services Inc shares valued at $129,330,578 were divested by the 10% Owner at a price of $11.13 per share. As a result of the transaction, KKR Phoenix Aggregator L.P. now holds 92,959,984 shares, worth roughly $1.37 billion.
BTIG Research initiated its BrightSpring Health Services Inc [BTSG] rating to a Buy in a research note published on June 21, 2024; the price target was $15. A number of analysts have revised their coverage, including HSBC Securities’s analysts, who began to cover the stock in early March with a ‘”a Buy”‘ rating. Deutsche Bank also remained covering BTSG and has increased its forecast on February 27, 2024 with a “Buy” recommendation from previously “Hold” rating. Wells Fargo started covering the stock on February 20, 2024. It rated BTSG as “an Overweight”.
Price Performance Review of BTSG
On Friday, BrightSpring Health Services Inc [NASDAQ:BTSG] saw its stock fall -2.00% to $14.73. Over the last five days, the stock has gained 6.35%. BrightSpring Health Services Inc shares have risen nearly 33.91% since the year began.
Levels Of Support And Resistance For BTSG Stock
The 24-hour chart illustrates a support level at 14.53, which if violated will result in even more drops to 14.32. On the upside, there is a resistance level at 15.11. A further resistance level may holdings at 15.48. The Relative Strength Index (RSI) on the 14-day chart is 73.36, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.12, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 21.45%. Stochastics %K at 83.39% indicates the stock is a selling.
How much short interest is there in BrightSpring Health Services Inc?
A steep rise in short interest was recorded in BrightSpring Health Services Inc stocks on 2024-08-30, dropping by -0.73 million shares to a total of 8.51 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-31 was 9.24 million shares. There was a decline of -8.6%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on February 20, 2024 when UBS began covering the stock and recommended ‘”a Buy”‘ rating along with a $15 price target.
