Short Interest in BrightSpring Health Services, Inc. (NASDAQ:BTSG) Rises By 6.5%

BrightSpring Health Services, Inc. (NASDAQ:BTSG) was the target of a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 7,080,000 shares, an increase of 6.5% from the September 30th total of 6,650,000 shares. Currently, 13.4% of the company’s shares are sold short. Based on an average daily volume of 1,270,000 shares, the days-to-cover ratio is presently 5.6 days.

Insider Transactions at BrightSpring Health Services

In related news, major shareholder Kkr Group Partnership L.P. bought 11,619,998 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were bought at an average price of $11.13 per share, with a total value of $129,330,577.74. Following the completion of the transaction, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new position in BrightSpring Health Services during the 1st quarter worth $280,000. Capstone Investment Advisors LLC purchased a new position in shares of BrightSpring Health Services during the first quarter worth about $9,722,000. Vanguard Group Inc. acquired a new position in BrightSpring Health Services in the 1st quarter valued at about $54,638,000. Ameritas Investment Partners Inc. acquired a new stake in BrightSpring Health Services during the 1st quarter worth approximately $58,000. Finally, American International Group Inc. purchased a new position in shares of BrightSpring Health Services in the 1st quarter valued at approximately $289,000.

BrightSpring Health Services Stock Performance

Shares of BTSG traded up $0.01 during mid-day trading on Thursday, reaching $14.97. The company’s stock had a trading volume of 1,096,942 shares, compared to its average volume of 1,476,758. The company’s 50 day moving average is $14.42 and its 200 day moving average is $12.38. BrightSpring Health Services has a 12-month low of $7.85 and a 12-month high of $16.49. The company has a current ratio of 1.33, a quick ratio of 1.00 and a debt-to-equity ratio of 1.62.

BrightSpring Health Services (NASDAQ:BTSG) last issued 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 firm had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.61 billion. The firm’s quarterly revenue was up 26.0% on a year-over-year basis. Equities analysts anticipate that BrightSpring Health Services will post 0.57 EPS for the current year.

Analyst Ratings Changes

A number of research firms have commented on BTSG. Guggenheim upped their price target on BrightSpring Health Services from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. BTIG Research increased their target price on BrightSpring Health Services from $15.00 to $20.00 and gave the stock a “buy” rating in a research note 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. KeyCorp started coverage on shares of BrightSpring Health Services in a research note on Friday, October 11th. They issued a “sector weight” rating for the company. Finally, The Goldman Sachs Group cut their target price on shares of BrightSpring Health Services from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $16.50.

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.