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

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

Insider Buying and Selling at BrightSpring Health Services

In other news, major shareholder Kkr Group Partnership L.P. purchased 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 completion of the transaction, the insider now directly 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. nVerses Capital LLC acquired a new position in shares of BrightSpring Health Services in the second quarter valued at approximately $55,000. Ameritas Investment Partners Inc. acquired a new position in BrightSpring Health Services in the 1st quarter valued at $58,000. California State Teachers Retirement System bought a new position in BrightSpring Health Services during the 1st quarter worth $59,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in BrightSpring Health Services during the 2nd quarter worth $126,000. Finally, Arizona State Retirement System acquired a new stake in shares of BrightSpring Health Services during the second quarter worth $163,000.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BTSG. KeyCorp started coverage on BrightSpring Health Services in a report on Friday, October 11th. They set a “sector weight” rating on the stock. Guggenheim boosted their price target on BrightSpring Health Services from $15.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. The Goldman Sachs Group decreased their price objective on BrightSpring Health Services from $21.00 to $18.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, BTIG Research upped their price target on BrightSpring Health Services from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $16.05.

BrightSpring Health Services Stock Up 4.3 %

Shares of NASDAQ BTSG traded up $0.65 during midday trading on Wednesday, hitting $15.86. 1,681,881 shares of the company’s stock were exchanged, compared to its average volume of 1,492,986. BrightSpring Health Services has a 12 month low of $7.85 and a 12 month high of $15.91. The company’s 50 day moving average price is $13.55 and its 200 day moving average price is $11.97. 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 released its quarterly earnings data on Friday, August 2nd. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.08). The business had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.61 billion. BrightSpring Health Services’s revenue was up 26.0% compared to the same quarter last year. Equities research analysts predict that BrightSpring Health Services will post 0.57 earnings per share for the current year.

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.