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

BrightSpring Health Services, Inc. (NASDAQ:BTSG) was the target of 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. Currently, 11.7% of the shares of the company are sold short. Based on an average daily trading volume, of 1,410,000 shares, the short-interest ratio is currently 4.4 days.

Insider Buying and Selling at BrightSpring Health Services

In related news, major shareholder Kkr Group Partnership L.P. acquired 11,619,998 shares of the stock in a transaction on Wednesday, September 11th. The shares were acquired at an average price of $11.13 per share, for a total transaction of $129,330,577.74. Following the transaction, the insider now owns 92,959,984 shares in the company, valued at approximately $1,034,644,621.92. This trade represents a 14.29 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Hedge Funds Weigh In On BrightSpring Health Services

A number of institutional investors have recently added to or reduced their stakes in BTSG. nVerses Capital LLC purchased a new position in shares of BrightSpring Health Services during the 2nd quarter worth $55,000. Ameritas Investment Partners Inc. acquired a new position in BrightSpring Health Services in the 1st quarter valued at about $58,000. California State Teachers Retirement System purchased a new stake in shares of BrightSpring Health Services in the 1st quarter valued at approximately $59,000. Intech Investment Management LLC purchased a new stake in shares of BrightSpring Health Services in the 3rd quarter valued at approximately $159,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of BrightSpring Health Services during the 2nd quarter worth approximately $126,000.

BrightSpring Health Services Price Performance

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

BrightSpring Health Services (NASDAQ:BTSG) last announced its quarterly earnings data on Friday, November 1st. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.72 billion. The firm’s revenue was up 28.8% on a year-over-year basis. As a group, research analysts predict that BrightSpring Health Services will post 0.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on BTSG. The Goldman Sachs Group dropped their price target on shares of BrightSpring Health Services from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. UBS Group upped their price target on BrightSpring Health Services from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. KeyCorp started coverage on BrightSpring Health Services in a report on Friday, October 11th. They issued a “sector weight” rating on the stock. Guggenheim upped their target price 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. Finally, BTIG Research increased their target price on BrightSpring Health Services from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $16.79.

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.