Short Interest in BrightSpring Health Services, Inc. (NASDAQ:BTSG) Rises By 23.0%

BrightSpring Health Services, Inc. (NASDAQ:BTSG) was the recipient of a large growth in short interest in January. As of January 15th, there was short interest totalling 9,030,000 shares, a growth of 23.0% from the December 31st total of 7,340,000 shares. Approximately 16.2% of the shares of the stock are sold short. Based on an average daily volume of 1,380,000 shares, the short-interest ratio is currently 6.5 days.

Hedge Funds Weigh In On BrightSpring Health Services

Hedge funds have recently made changes to their positions in the stock. FMR LLC increased its holdings in shares of BrightSpring Health Services by 17.2% during the 3rd quarter. FMR LLC now owns 18,169,187 shares of the company’s stock worth $266,724,000 after buying an additional 2,664,582 shares during the last quarter. Lisanti Capital Growth LLC purchased a new position in shares of BrightSpring Health Services in the 3rd quarter worth about $4,659,000. Walleye Capital LLC lifted its stake in shares of BrightSpring Health Services by 388.0% in the 3rd quarter. Walleye Capital LLC now owns 167,112 shares of the company’s stock valued at $2,453,000 after purchasing an additional 132,869 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of BrightSpring Health Services in the 3rd quarter valued at about $1,822,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of BrightSpring Health Services by 275.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 163,618 shares of the company’s stock worth $2,402,000 after purchasing an additional 120,005 shares during the period.

Analyst Ratings Changes

Several analysts have weighed in on the company. KeyCorp started coverage on BrightSpring Health Services in a report on Friday, October 11th. They issued a “sector weight” rating on the stock. Bank of America raised their target price on shares of BrightSpring Health Services from $19.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Morgan Stanley increased their price target on shares of BrightSpring Health Services from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Wells Fargo & Company upped their target price on BrightSpring Health Services from $17.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Finally, Mizuho raised their price target on BrightSpring Health Services from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.42.

BrightSpring Health Services Stock Performance

NASDAQ BTSG opened at $24.24 on Friday. The company has a current ratio of 1.35, a quick ratio of 0.97 and a debt-to-equity ratio of 1.63. The company has a market capitalization of $4.22 billion and a PE ratio of -93.23. The business’s 50-day moving average price is $18.72 and its 200 day moving average price is $15.87. BrightSpring Health Services has a twelve month low of $7.85 and a twelve month high of $24.82.

BrightSpring Health Services (NASDAQ:BTSG) last released its earnings results 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). BrightSpring Health Services had a positive return on equity of 4.16% and a negative net margin of 0.38%. The company had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.72 billion. BrightSpring Health Services’s revenue was up 28.8% compared to the same quarter last year. On average, research analysts predict that BrightSpring Health Services will post 0.59 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.