BrightSpring Health Services, Inc. (NASDAQ:BTSG) Sees Large Drop in Short Interest

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

Insider Activity

In other news, major shareholder Kkr Group Partnership L.P. bought 11,619,998 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were acquired at an average price of $11.13 per share, with a total value of $129,330,577.74. Following the transaction, the insider now owns 92,959,984 shares in the company, valued at $1,034,644,621.92. This represents a 14.29 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Investors Weigh In On BrightSpring Health Services

Several institutional investors have recently made changes to their positions in the stock. Silvercrest Asset Management Group LLC acquired a new stake in BrightSpring Health Services during the first quarter worth about $14,179,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of BrightSpring Health Services during the 1st quarter worth approximately $16,260,000. TD Asset Management Inc bought a new position in BrightSpring Health Services in the second quarter valued at approximately $2,308,000. Magnetar Financial LLC raised its position in 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 purchasing an additional 379,149 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in BrightSpring Health Services during the third quarter worth $1,822,000.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BTSG. Guggenheim lifted their price target on shares of BrightSpring Health Services from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. UBS Group boosted their price target on BrightSpring Health Services from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. BTIG Research raised their target price on shares of BrightSpring Health Services from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Mizuho boosted 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. Finally, KeyCorp initiated coverage on BrightSpring Health Services in a research note on Friday, October 11th. They issued a “sector weight” rating on the stock. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $16.79.

BrightSpring Health Services Trading Up 2.3 %

Shares of BTSG traded up $0.44 during midday trading on Friday, reaching $19.63. 951,849 shares of the stock were exchanged, compared to its average volume of 1,484,669. The company has a quick ratio of 0.97, a current ratio of 1.35 and a debt-to-equity ratio of 1.63. The stock’s 50 day simple moving average is $15.82 and its 200 day simple moving average is $13.04. BrightSpring Health Services has a twelve month low of $7.85 and a twelve month high of $20.25.

BrightSpring Health Services (NASDAQ:BTSG) last issued its quarterly earnings data on Friday, November 1st. The company reported $0.11 earnings per share 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 business had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.72 billion. The company’s revenue for the quarter was up 28.8% on a year-over-year basis. As a group, equities 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.