BrightSpring Health Services, Inc. (NASDAQ:BTSG) Sees Large Drop in Short Interest

BrightSpring Health Services, Inc. (NASDAQ:BTSG) was the recipient of a large decline in short interest in October. As of October 31st, there was short interest totalling 6,210,000 shares, a decline 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 short-interest ratio is currently 4.4 days. Approximately 11.7% of the shares of the company are sold short.

Insider Buying and Selling at BrightSpring Health Services

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

Institutional Trading of BrightSpring Health Services

Large investors have recently bought and sold shares of the stock. Kohlberg Kravis Roberts & Co. L.P. acquired a new position in BrightSpring Health Services during the 1st quarter worth about $884,166,000. FMR LLC grew its stake in shares of BrightSpring Health Services by 17.2% during the third quarter. FMR LLC now owns 18,169,187 shares of the company’s stock valued at $266,724,000 after purchasing an additional 2,664,582 shares during the last quarter. 8 Knots Management LLC acquired a new stake in shares of BrightSpring Health Services in the first quarter valued at approximately $67,678,000. Vanguard Group Inc. bought a new position in BrightSpring Health Services in the 1st quarter worth approximately $54,638,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in BrightSpring Health Services during the 1st quarter worth $35,328,000.

BrightSpring Health Services Price Performance

Shares of BTSG traded up $0.44 on Friday, reaching $19.63. 951,849 shares of the stock traded hands, compared to its average volume of 1,484,669. The stock’s 50-day moving average price is $15.82 and its 200-day moving average price is $13.04. 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 has a 12 month low of $7.85 and a 12 month high of $20.25.

BrightSpring Health Services (NASDAQ:BTSG) last issued its earnings results on Friday, November 1st. The company reported $0.11 earnings per share 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 negative net margin of 0.38% and a positive return on equity of 4.16%. The company’s quarterly revenue was up 28.8% on a year-over-year basis. On average, research analysts anticipate that BrightSpring Health Services will post 0.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BTSG has been the subject of several recent research reports. Guggenheim increased 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 note on Tuesday, October 1st. BTIG Research increased their price objective on BrightSpring Health Services from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Mizuho lifted their target price on BrightSpring Health Services from $17.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. UBS Group boosted their target price on BrightSpring Health Services from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, KeyCorp initiated coverage on shares of BrightSpring Health Services in a research note on Friday, October 11th. They set a “sector weight” rating for the company. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $16.79.

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.