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

BrightSpring Health Services, Inc. (NASDAQ:BTSG) was the target of a significant drop in short interest in August. As of August 31st, there was short interest totalling 8,510,000 shares, a drop of 5.1% from the August 15th total of 8,970,000 shares. Based on an average daily volume of 924,000 shares, the short-interest ratio is presently 9.2 days. Currently, 16.0% of the shares of the stock are sold short.

BrightSpring Health Services Trading Up 5.2 %

Shares of BTSG opened at $14.64 on Wednesday. BrightSpring Health Services has a 12-month low of $7.85 and a 12-month high of $14.89. The firm has a 50-day moving average price of $12.20 and a 200 day moving average price of $11.14. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.33 and a quick ratio of 1.00.

BrightSpring Health Services (NASDAQ:BTSG) last posted its quarterly earnings results 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. BrightSpring Health Services’s revenue was up 26.0% on a year-over-year basis. On average, sell-side analysts expect that BrightSpring Health Services will post 0.57 earnings per share for the current fiscal year.

Insider Buying and Selling at BrightSpring Health Services

In related news, major shareholder Kkr Group Partnership L.P. purchased 11,619,998 shares of BrightSpring Health Services stock in a transaction that occurred on Wednesday, September 11th. The stock was purchased at an average price of $11.13 per share, for a total transaction of $129,330,577.74. Following the transaction, the insider now directly owns 92,959,984 shares in the company, valued at $1,034,644,621.92. The acquisition was disclosed in a document filed with the SEC, which is available at this link.

Institutional Investors Weigh In On BrightSpring Health Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. nVerses Capital LLC purchased a new position in shares of BrightSpring Health Services during the 2nd quarter worth $55,000. Ameritas Investment Partners Inc. purchased a new position in BrightSpring Health Services during the first quarter worth about $58,000. California State Teachers Retirement System acquired a new stake in shares of BrightSpring Health Services during the first quarter valued at about $59,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of BrightSpring Health Services in the 2nd quarter valued at approximately $126,000. Finally, Arizona State Retirement System acquired a new position in shares of BrightSpring Health Services in the 2nd quarter worth approximately $163,000.

Analysts Set New Price Targets

A number of brokerages have weighed in on BTSG. The Goldman Sachs Group decreased their price objective on BrightSpring Health Services from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, August 9th. BTIG Research assumed coverage on shares of BrightSpring Health Services in a research note on Friday, June 21st. They issued a “buy” rating and a $15.00 price target on the stock. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat.com, BrightSpring Health Services has an average rating of “Buy” and an average price target of $15.32.

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.