BrightSpring Health Services, Inc. (NASDAQ:BTSG – Get Free Report) was the recipient of a significant growth in short interest in October. As of October 15th, there was short interest totalling 7,080,000 shares, a growth of 6.5% from the September 30th total of 6,650,000 shares. Approximately 13.4% of the shares of the company are sold short. Based on an average daily volume of 1,270,000 shares, the short-interest ratio is currently 5.6 days.
Wall Street Analysts Forecast Growth
BTSG has been the subject of several recent analyst reports. KeyCorp began coverage on shares of BrightSpring Health Services in a research note on Friday, October 11th. They issued a “sector weight” rating for the company. The Goldman Sachs Group dropped their price objective on BrightSpring Health Services from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, August 9th. UBS Group raised their price target on BrightSpring Health Services from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday. Guggenheim boosted their price objective on shares of BrightSpring Health Services from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Finally, BTIG Research raised their target price on shares of BrightSpring Health Services from $15.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $16.50.
Check Out Our Latest Stock Report on BTSG
BrightSpring Health Services Trading Up 0.1 %
BrightSpring Health Services (NASDAQ:BTSG – Get Free Report) last announced 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 firm had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.61 billion. The business’s revenue for the quarter was up 26.0% compared to the same quarter last year. As a group, analysts predict that BrightSpring Health Services will post 0.57 earnings per share for the current fiscal year.
Insider Buying and Selling
In other BrightSpring Health Services news, major shareholder Kkr Group Partnership L.P. acquired 11,619,998 shares of the stock in a transaction on Wednesday, September 11th. The shares were bought at an average price 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 of the company’s stock, valued at $1,034,644,621.92. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Hedge Funds Weigh In On BrightSpring Health Services
A number of hedge funds have recently made changes to their positions in the stock. nVerses Capital LLC purchased a new position in shares of BrightSpring Health Services in the 2nd quarter worth $55,000. Ameritas Investment Partners Inc. purchased a new position in shares of BrightSpring Health Services in the 1st quarter worth about $58,000. California State Teachers Retirement System acquired a new position in shares of BrightSpring Health Services in the 1st quarter valued at about $59,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of BrightSpring Health Services during the 2nd quarter worth about $126,000. Finally, Arizona State Retirement System acquired a new stake in BrightSpring Health Services during the 2nd quarter worth approximately $163,000.
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.
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