BrightSpring Health Services, Inc. (NASDAQ:BTSG) Sees Large Decrease in Short Interest

BrightSpring Health Services, Inc. (NASDAQ:BTSG) was the target of a significant decrease in short interest in September. As of September 15th, there was short interest totalling 7,360,000 shares, a decrease of 13.5% from the August 31st total of 8,510,000 shares. Based on an average daily trading volume, of 1,160,000 shares, the days-to-cover ratio is presently 6.3 days. Approximately 13.9% of the shares of the stock are sold short.

BrightSpring Health Services Stock Performance

BTSG traded down $0.31 during midday trading on Monday, hitting $14.68. 1,163,157 shares of the company were exchanged, compared to its average volume of 1,497,006. The firm’s 50 day moving average price is $12.89 and its 200-day moving average price is $11.56. BrightSpring Health Services has a 1-year low of $7.85 and a 1-year high of $15.47. The company has a quick ratio of 1.00, a current ratio of 1.33 and a debt-to-equity ratio of 1.62.

BrightSpring Health Services (NASDAQ:BTSG) last announced its earnings results on Friday, August 2nd. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.08). The company had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.61 billion. The company’s revenue was up 26.0% compared to the same quarter last year. On average, research analysts predict that BrightSpring Health Services will post 0.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Kkr Group Partnership L.P. bought 11,619,998 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was purchased at an average cost of $11.13 per share, for a total transaction of $129,330,577.74. Following the transaction, the insider now owns 92,959,984 shares in the company, valued at approximately $1,034,644,621.92. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Institutional Trading of BrightSpring Health Services

A number of large investors have recently bought and sold shares of BTSG. Kohlberg Kravis Roberts & Co. L.P. acquired a new stake in BrightSpring Health Services during the first quarter worth approximately $884,166,000. 8 Knots Management LLC acquired a new stake in shares of BrightSpring Health Services during the 1st quarter worth approximately $67,678,000. Vanguard Group Inc. bought a new stake in shares of BrightSpring Health Services in the 1st quarter valued at $54,638,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of BrightSpring Health Services during the 1st quarter valued at $35,328,000. Finally, Price T Rowe Associates Inc. MD bought a new position in BrightSpring Health Services during the first quarter worth $16,260,000.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. BTIG Research started coverage on shares of BrightSpring Health Services in a report on Friday, June 21st. They set a “buy” rating and a $15.00 price target for the company. The Goldman Sachs Group lowered their price objective on shares of BrightSpring Health Services from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, BrightSpring Health Services has an average rating of “Buy” and a consensus target price of $15.32.

About BrightSpring Health Services

BrightSpring Health Services, Inc operates a home and community-based healthcare services platform in the United States. The company's platform focuses on delivering pharmacy and provider services, including clinical and supportive care in home and community settings to Medicare, Medicaid, and insured populations.