BrightSpring is undervalued, according to Wolfteam Ltd.'s estimates and projections.
Here is an excerpt from a Morningstar write up on the BrightSpring Health Services IPO:
'BrightSpring reported a net loss of $149.63 million and revenue of $6.45 billion in the nine months ended Sept. 30, versus net income of $2.46 million and revenue of $5.75 billion in the year-ago period.
BrightSpring withdrew its IPO on November 23, 2022 after an earlier IPO filing in October of 2021.
The company is backed by private-equity firm KKR & Co. Inc. (KKR) as well as drug-store giant Walgreen Boost Alliance Inc. (WBA), according to its IPO prospectus.
KKR owns 69% of the company and Walgreen has about 34.9%.
The two shareholders will continue to own about 67.9% of the company after it goes public.
The company traces its roots back to 1974. In 2017, it was incorporated as Phoenix Parent Holdings Inc. as part of an acquisition of PharMerica Corp. in 2017 by Walgreen and KKR. In 2021, the company changed its name to BrightSpring Health Services.
The IPO comes after the successful liftoff of Smith Douglas Homes Corp. (SDHC) on Jan. 11 at a price of $21 a share. The stock closed at $23.94 on Wednesday, down 0.9%'
BrightSpring Health Services' intrinsic worth is 8.2 billion USD, compared to BrightSpring Health Services's IPO valuation of 2.2, according to Wolfteam Ltd.'s estimates.
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