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

BrightSpring Health Services, Inc. (NASDAQ:BTSG) saw a significant decline in short interest in September. As of September 15th, there was short interest totalling 7,360,000 shares, a decline of 13.5% from the August 31st total of 8,510,000 shares. Approximately 13.9% of the company’s stock are sold short. Based on an average trading volume of 1,160,000 shares, the short-interest ratio is currently 6.3 days.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BTSG. BTIG Research started coverage on shares of BrightSpring Health Services in a report on Friday, June 21st. They issued a “buy” rating and a $15.00 target price for the company. The Goldman Sachs Group reduced 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 research report on Friday, August 9th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $15.32.

Insider Transactions 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 on 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 purchase, the insider now owns 92,959,984 shares of the company’s stock, valued at $1,034,644,621.92. The transaction was disclosed in a filing with the SEC, which is available at this link.

Hedge Funds Weigh In On BrightSpring Health Services

Large investors have recently modified their holdings of the business. Silvercrest Asset Management Group LLC bought a new position in shares of BrightSpring Health Services in the first quarter worth $14,179,000. Price T Rowe Associates Inc. MD bought a new position in BrightSpring Health Services in the 1st quarter worth about $16,260,000. Capstone Investment Advisors LLC bought a new position in BrightSpring Health Services in the 1st quarter worth about $9,722,000. TD Asset Management Inc purchased a new position in BrightSpring Health Services during the 2nd quarter valued at about $2,308,000. Finally, Magnetar Financial LLC increased its position in shares of BrightSpring Health Services by 46.9% during the second quarter. Magnetar Financial LLC now owns 1,188,302 shares of the company’s stock valued at $13,499,000 after buying an additional 379,149 shares during the period.

BrightSpring Health Services Price Performance

NASDAQ BTSG traded down $0.31 on Monday, hitting $14.68. 1,163,157 shares of the stock traded hands, compared to its average volume of 1,497,006. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.33 and a quick ratio of 1.00. The business’s fifty day moving average is $12.89 and its two-hundred day moving average is $11.56. BrightSpring Health Services has a 12 month low of $7.85 and a 12 month high of $15.47.

BrightSpring Health Services (NASDAQ:BTSG) last announced its quarterly earnings data on Friday, August 2nd. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.08). The company had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.61 billion. The firm’s revenue for the quarter was up 26.0% on a year-over-year basis. As a group, research analysts forecast 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.