BrightSpring Health Services (NASDAQ:BTSG) Trading Down 5.4% – Here’s What Happened

BrightSpring Health Services, Inc. (NASDAQ:BTSG) fell 5.4% on Wednesday . The company traded as low as $14.73 and last traded at $15.05. 609,495 shares were traded during trading, a decline of 58% from the average session volume of 1,462,410 shares. The stock had previously closed at $15.91.

Analyst Ratings Changes

A number of research firms recently weighed in on BTSG. KeyCorp initiated coverage on BrightSpring Health Services in a research report on Friday, October 11th. They set a “sector weight” rating for the company. UBS Group increased their price target on shares of BrightSpring Health Services from $16.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday. The Goldman Sachs Group decreased 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 report on Friday, August 9th. BTIG Research lifted their target price on BrightSpring Health Services from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, Guggenheim lifted their price objective on BrightSpring Health Services from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

BrightSpring Health Services Price Performance

The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.00 and a current ratio of 1.33. The firm has a fifty day simple moving average of $14.42 and a two-hundred day simple moving average of $12.38.

BrightSpring Health Services (NASDAQ:BTSG) last announced its earnings results on Friday, August 2nd. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.08). The firm had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.61 billion. BrightSpring Health Services’s revenue was up 26.0% on a year-over-year basis. As a group, research analysts forecast that BrightSpring Health Services, Inc. will post 0.57 EPS for the current fiscal year.

Insider Transactions at BrightSpring Health Services

In related news, major shareholder Kkr Group Partnership L.P. acquired 11,619,998 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was bought at an average price of $11.13 per share, for a total transaction of $129,330,577.74. Following the acquisition, the insider now directly owns 92,959,984 shares of the company’s stock, valued at $1,034,644,621.92. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

Hedge Funds Weigh In On BrightSpring Health Services

A number of hedge funds and other institutional investors have recently modified their holdings of BTSG. Assenagon Asset Management S.A. purchased a new position in shares of BrightSpring Health Services in the 3rd quarter worth approximately $1,822,000. nVerses Capital LLC increased its holdings in shares of BrightSpring Health Services by 195.8% during the third quarter. nVerses Capital LLC now owns 14,200 shares of the company’s stock valued at $208,000 after acquiring an additional 9,400 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of BrightSpring Health Services in the 3rd quarter valued at approximately $360,000. The Manufacturers Life Insurance Company increased its stake in BrightSpring Health Services by 10.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 117,026 shares of the company’s stock valued at $1,329,000 after purchasing an additional 10,854 shares in the last quarter. Finally, Magnetar Financial LLC raised its holdings in shares of BrightSpring Health Services by 46.9% in 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 during the last quarter.

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.