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 $435.75 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 $1.74 billion.
KeyBanc Capital Markets initiated its BrightSpring Health Services Inc [BTSG] rating to a Sector weight in a research note published recently. A number of analysts have revised their coverage, including BTIG Research’s analysts, who began to cover the stock in late June with a ‘”a Buy”‘ rating. HSBC Securities began covering BTSG with “Buy” recommendation on March 06, 2024. Deutsche Bank revised its rating on February 27, 2024. It rated BTSG as “a Buy” which previously was an “a Hold”.
Price Performance Review of BTSG
On Friday, BrightSpring Health Services Inc [NASDAQ:BTSG] saw its stock unchanged to $18.75. Over the last five days, the stock has lost -4.48%. BrightSpring Health Services Inc shares have risen nearly 70.45% since the year began. SMA at 50 days reached $16.33, while 200 days put it at $12.36.
Levels Of Support And Resistance For BTSG Stock
The 24-hour chart illustrates a support level at 18.56, which if violated will result in even more drops to 18.36. On the upside, there is a resistance level at 18.99. A further resistance level may holdings at 19.22. The Relative Strength Index (RSI) on the 14-day chart is 60.55, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.25, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 42.43%. Stochastics %K at 61.63% indicates the stock is a holding.
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 2024-10-31, dropping by -0.44 million shares to a total of 6.21 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 6.65 million shares. There was a decline of -7.12%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on February 20, 2024 when Wells Fargo began covering the stock and recommended ‘”an Overweight”‘ rating along with a $15 price target.
