BrightSpring Health Services, Inc. (NASDAQ:BTSG) Short Interest Update

BrightSpring Health Services, Inc. (NASDAQ:BTSG) was the recipient of a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 6,790,000 shares, an increase of 9.3% from the October 31st total of 6,210,000 shares. Currently, 12.2% of the company’s stock are short sold. Based on an average daily volume of 1,480,000 shares, the short-interest ratio is currently 4.6 days.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. FMR LLC increased 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 acquiring an additional 2,664,582 shares during the period. Vanguard Group Inc. acquired a new position in shares of BrightSpring Health Services during the first quarter valued at approximately $54,638,000. Geode Capital Management LLC increased its stake in shares of BrightSpring Health Services by 0.6% during the third quarter. Geode Capital Management LLC now owns 1,304,214 shares of the company’s stock valued at $19,150,000 after acquiring an additional 7,750 shares during the period. State Street Corp boosted its holdings in BrightSpring Health Services by 7.4% during the third quarter. State Street Corp now owns 1,239,628 shares of the company’s stock worth $18,198,000 after buying an additional 85,464 shares in the last quarter. Finally, Magnetar Financial LLC boosted its holdings in BrightSpring Health Services by 46.9% during the second quarter. Magnetar Financial LLC now owns 1,188,302 shares of the company’s stock worth $13,499,000 after buying an additional 379,149 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BTSG shares. Mizuho upped their price objective on shares of BrightSpring Health Services from $17.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Wells Fargo & Company increased their price target on shares of BrightSpring Health Services from $17.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. BTIG Research increased their price target 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. UBS Group increased their price target on shares of 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, Guggenheim increased their price target 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. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.21.

BrightSpring Health Services Stock Performance

Shares of NASDAQ:BTSG traded down $0.35 during trading hours on Wednesday, hitting $18.63. The stock had a trading volume of 99,059 shares, compared to its average volume of 1,460,310. The stock’s fifty day simple moving average is $16.92 and its 200 day simple moving average is $13.69. BrightSpring Health Services has a 1-year low of $7.85 and a 1-year high of $20.25. The firm has a market capitalization of $3.24 billion and a price-to-earnings ratio of -73.00. 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 posted its quarterly earnings data on Friday, November 1st. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). BrightSpring Health Services had a negative net margin of 0.38% and a positive return on equity of 4.16%. The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.72 billion. The company’s revenue was up 28.8% compared to the same quarter last year. Sell-side analysts anticipate that BrightSpring Health Services will post 0.59 earnings per share for the current fiscal year.

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.