Short Interest in BrightSpring Health Services, Inc. (NASDAQ:BTSG) Drops By 12.3%

BrightSpring Health Services, Inc. (NASDAQ:BTSG) was the recipient of a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 6,210,000 shares, a decrease of 12.3% from the October 15th total of 7,080,000 shares. Based on an average daily trading volume, of 1,410,000 shares, the days-to-cover ratio is currently 4.4 days. Currently, 11.7% of the company’s shares are sold short.

Insider Transactions at BrightSpring Health Services

In related news, major shareholder Kkr Group Partnership L.P. bought 11,619,998 shares of the stock in a transaction dated Wednesday, September 11th. The stock was purchased at an average cost of $11.13 per share, with a total value of $129,330,577.74. Following the completion of the purchase, the insider now owns 92,959,984 shares of the company’s stock, valued at $1,034,644,621.92. This trade represents a 14.29 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Institutional Trading of BrightSpring Health Services

Institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets purchased a new stake in BrightSpring Health Services in the first quarter valued at about $280,000. Vanguard Group Inc. acquired a new position in shares of BrightSpring Health Services during the first quarter valued at about $54,638,000. Ameritas Investment Partners Inc. purchased a new position in shares of BrightSpring Health Services in the 1st quarter valued at approximately $58,000. American International Group Inc. acquired a new stake in BrightSpring Health Services in the 1st quarter worth approximately $289,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in BrightSpring Health Services during the 1st quarter worth approximately $35,328,000.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BTSG. Guggenheim boosted their price objective on shares of BrightSpring Health Services from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. UBS Group boosted their price target on BrightSpring Health Services from $16.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Mizuho raised their price objective on BrightSpring Health Services from $17.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. BTIG Research upped 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, KeyCorp began coverage on BrightSpring Health Services in a research report on Friday, October 11th. They set a “sector weight” rating on the stock. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $16.79.

BrightSpring Health Services Stock Down 3.0 %

Shares of BTSG stock traded down $0.58 during mid-day trading on Monday, hitting $19.05. 631,702 shares of the stock traded hands, compared to its average volume of 1,485,874. BrightSpring Health Services has a 52-week low of $7.85 and a 52-week high of $20.25. The stock has a market cap of $3.32 billion and a P/E ratio of -75.50. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 0.97. The stock’s fifty day moving average is $15.82 and its two-hundred day moving average is $13.06.

BrightSpring Health Services (NASDAQ:BTSG) last posted its earnings results 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 firm had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.72 billion. BrightSpring Health Services’s revenue for the quarter was up 28.8% compared to the same quarter last year. Equities analysts predict that BrightSpring Health Services will post 0.59 EPS 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.