BrightSpring Health Services (NASDAQ:BTSG) Shares Down 5.4% – Time to Sell?

BrightSpring Health Services, Inc. (NASDAQ:BTSG)’s stock price traded down 5.4% on Wednesday . The stock traded as low as $14.73 and last traded at $15.05. 609,495 shares were traded during trading, a decline of 58% from the average session volume of 1,462,410 shares. The stock had previously closed at $15.91.

Analysts Set New Price Targets

Several research firms have recently issued reports on BTSG. UBS Group increased their target price on shares of BrightSpring Health Services from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday. BTIG Research upped their price objective 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 cut 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 report on Friday, August 9th. Guggenheim upped their target price on shares of 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, KeyCorp initiated coverage on shares of BrightSpring Health Services in a research note on Friday, October 11th. They set a “sector weight” rating on the stock. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, BrightSpring Health Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.50.

BrightSpring Health Services Trading Up 3.5 %

The stock’s 50 day simple moving average is $14.42 and its two-hundred day simple moving average is $12.38. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.00 and a current ratio of 1.33.

BrightSpring Health Services (NASDAQ:BTSG) last posted its quarterly earnings results on Friday, August 2nd. The company reported $0.10 earnings per share (EPS) 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 analysts’ expectations of $2.61 billion. The business’s revenue was up 26.0% compared to the same quarter last year. On average, equities analysts predict that BrightSpring Health Services, Inc. will post 0.57 earnings per share for the current fiscal year.

Insider Activity at BrightSpring Health Services

In related news, major shareholder Kkr Group Partnership L.P. purchased 11,619,998 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were acquired 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 in the company, valued at approximately $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 accessible through this hyperlink.

Hedge Funds Weigh In On BrightSpring Health Services

Large investors have recently made changes to their positions in the business. nVerses Capital LLC purchased a new stake in BrightSpring Health Services in the 2nd quarter worth about $55,000. Ameritas Investment Partners Inc. purchased a new position in BrightSpring Health Services in the first quarter valued at about $58,000. California State Teachers Retirement System acquired a new position in BrightSpring Health Services in the 1st quarter worth 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 shares of BrightSpring Health Services during the 2nd quarter valued at about $163,000.

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.