Short Interest in BrightSpring Health Services, Inc. (NASDAQ:BTSG) Declines By 12.3%

BrightSpring Health Services, Inc. (NASDAQ:BTSG) was the target of a significant drop in short interest in October. As of October 31st, there was short interest totalling 6,210,000 shares, a drop of 12.3% from the October 15th total of 7,080,000 shares. Based on an average trading volume of 1,410,000 shares, the days-to-cover ratio is presently 4.4 days. Approximately 11.7% of the shares of the stock are short sold.

Analysts Set New Price Targets

Several brokerages recently weighed in on BTSG. KeyCorp assumed coverage on BrightSpring Health Services in a research report on Friday, October 11th. They issued a “sector weight” rating for the company. UBS Group lifted their target price on BrightSpring Health Services from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Mizuho lifted their target price on BrightSpring Health Services from $17.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Guggenheim lifted their target price on BrightSpring Health Services from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Finally, 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 research report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, BrightSpring Health Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.79.

BrightSpring Health Services Stock Up 2.3 %

Shares of NASDAQ:BTSG traded up $0.44 on Friday, hitting $19.63. 951,849 shares of the company’s stock were exchanged, compared to its average volume of 1,490,061. The firm’s 50-day moving average is $15.82 and its 200 day moving average is $13.02. The company has a market capitalization of $3.42 billion and a PE ratio of -75.50. BrightSpring Health Services has a 1-year low of $7.85 and a 1-year high of $20.25. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.97 and a current ratio of 1.35.

BrightSpring Health Services (NASDAQ:BTSG) last released its quarterly earnings data on Friday, November 1st. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.07). The business had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.72 billion. BrightSpring Health Services had a positive return on equity of 4.16% and a negative net margin of 0.38%. The firm’s quarterly revenue was up 28.8% on a year-over-year basis. Sell-side analysts predict that BrightSpring Health Services will post 0.59 EPS for the current year.

Insider Activity

In other news, major shareholder Kkr Group Partnership L.P. bought 11,619,998 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were acquired at an average price of $11.13 per share, for a total transaction of $129,330,577.74. Following the completion of the transaction, the insider now directly owns 92,959,984 shares in the company, valued at $1,034,644,621.92. The trade was a 14.29 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Institutional Trading of BrightSpring Health Services

A number of large investors have recently made changes to their positions in BTSG. BNP Paribas Financial Markets acquired a new stake in shares of BrightSpring Health Services in the 1st quarter valued at about $280,000. Vanguard Group Inc. acquired a new stake in shares of BrightSpring Health Services in the 1st quarter valued at about $54,638,000. Ameritas Investment Partners Inc. acquired a new stake in BrightSpring Health Services during the 1st quarter worth approximately $58,000. American International Group Inc. acquired a new stake in BrightSpring Health Services during the 1st quarter worth approximately $289,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in BrightSpring Health Services during the 1st quarter worth approximately $35,328,000.

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.