BrightSpring Health Services (NASDAQ:BTSG) Shares Gap Down – Should You Sell?

BrightSpring Health Services, Inc. (NASDAQ:BTSG)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $22.15, but opened at $20.88. BrightSpring Health Services shares last traded at $21.07, with a volume of 613,588 shares traded.

Analysts Set New Price Targets

BTSG has been the subject of a number of analyst reports. CJS Securities assumed coverage on BrightSpring Health Services in a research report on Thursday, December 12th. They issued an “outperform” rating and a $27.00 price target for the company. Morgan Stanley raised their price objective on BrightSpring Health Services from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. UBS Group upped their target price on BrightSpring Health Services from $22.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Wells Fargo & Company increased their price target on BrightSpring Health Services from $17.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Finally, Mizuho boosted their price objective on shares of BrightSpring Health Services from $17.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.42.

BrightSpring Health Services Trading Down 3.9 %

The business’s fifty day simple moving average is $19.63 and its two-hundred day simple moving average is $16.82. The company has a current ratio of 1.35, a quick ratio of 0.97 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $3.71 billion and a P/E ratio of -81.56.

Institutional Investors Weigh In On BrightSpring Health Services

A number of institutional investors have recently added to or reduced their stakes in BTSG. BNP Paribas Financial Markets lifted its position in shares of BrightSpring Health Services by 5.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 21,329 shares of the company’s stock worth $313,000 after acquiring an additional 1,011 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of BrightSpring Health Services by 3.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,649 shares of the company’s stock valued at $522,000 after purchasing an additional 1,032 shares in the last quarter. Rhumbline Advisers lifted its position in BrightSpring Health Services by 1.5% in the fourth quarter. Rhumbline Advisers now owns 73,583 shares of the company’s stock worth $1,253,000 after purchasing an additional 1,118 shares during the period. MetLife Investment Management LLC boosted its stake in BrightSpring Health Services by 4.9% during the fourth quarter. MetLife Investment Management LLC now owns 33,117 shares of the company’s stock worth $564,000 after buying an additional 1,548 shares in the last quarter. Finally, Quarry LP bought a new stake in BrightSpring Health Services in the 4th quarter valued at $29,000.

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.