BrightSpring Health Services, Inc. (NASDAQ:BTSG) Short Interest Down 9.6% in September

BrightSpring Health Services, Inc. (NASDAQ:BTSG) was the recipient of a large decline in short interest in September. As of September 30th, there was short interest totalling 6,650,000 shares, a decline of 9.6% from the September 15th total of 7,360,000 shares. Currently, 12.5% of the shares of the stock are short sold. Based on an average trading volume of 1,190,000 shares, the short-interest ratio is presently 5.6 days.

Insider Buying and Selling at BrightSpring Health Services

In related news, major shareholder Kkr Group Partnership L.P. bought 11,619,998 shares of BrightSpring Health Services stock in a transaction dated Wednesday, September 11th. The shares were bought at an average cost of $11.13 per share, with a total value of $129,330,577.74. Following the acquisition, the insider now owns 92,959,984 shares in the company, valued at $1,034,644,621.92. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Institutional Investors Weigh In On BrightSpring Health Services

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Silvercrest Asset Management Group LLC bought a new stake in BrightSpring Health Services in the first quarter valued at approximately $14,179,000. Price T Rowe Associates Inc. MD bought a new stake in shares of BrightSpring Health Services in the 1st quarter valued at $16,260,000. Capstone Investment Advisors LLC acquired a new stake in shares of BrightSpring Health Services during the first quarter worth $9,722,000. TD Asset Management Inc bought a new position in BrightSpring Health Services during the second quarter worth $2,308,000. Finally, Magnetar Financial LLC raised its stake in BrightSpring Health Services by 46.9% during the second quarter. Magnetar Financial LLC now owns 1,188,302 shares of the company’s stock worth $13,499,000 after buying an additional 379,149 shares during the last quarter.

BrightSpring Health Services Trading Up 4.3 %

BTSG traded up $0.65 during trading on Wednesday, reaching $15.86. 1,681,881 shares of the company’s stock were exchanged, compared to its average volume of 1,492,986. The company has a current ratio of 1.33, a quick ratio of 1.00 and a debt-to-equity ratio of 1.62. BrightSpring Health Services has a one year low of $7.85 and a one year high of $15.91. The firm has a fifty day moving average price of $13.55 and a two-hundred day moving average price of $11.97.

BrightSpring Health Services (NASDAQ:BTSG) last issued its quarterly earnings data on Friday, August 2nd. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.08). The company had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.61 billion. The company’s revenue was up 26.0% on a year-over-year basis. Equities research analysts expect that BrightSpring Health Services will post 0.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BTSG has been the topic of several analyst reports. BTIG Research increased their price target on shares of BrightSpring Health Services from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. The Goldman Sachs Group reduced their target price on BrightSpring Health Services from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, August 9th. KeyCorp initiated coverage on BrightSpring Health Services in a report on Friday, October 11th. They set a “sector weight” rating for the company. Finally, Guggenheim raised their price objective on BrightSpring Health Services from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, BrightSpring Health Services has an average rating of “Moderate Buy” and a consensus price target of $16.05.

BrightSpring Health Services Company Profile

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.