Short Interest in BrightSpring Health Services, Inc. (NASDAQ:BTSG) Rises By 9.3%

BrightSpring Health Services, Inc. (NASDAQ:BTSG) saw a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 6,790,000 shares, a growth of 9.3% from the October 31st total of 6,210,000 shares. Currently, 12.2% of the company’s shares are short sold. Based on an average daily trading volume, of 1,480,000 shares, the days-to-cover ratio is presently 4.6 days.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. KeyCorp started coverage on shares of BrightSpring Health Services in a research report on Friday, October 11th. They issued a “sector weight” rating on the stock. BTIG Research lifted their price objective on BrightSpring Health Services from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Wells Fargo & Company upped their target price on BrightSpring Health Services from $17.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. UBS Group lifted their target price on BrightSpring Health Services from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Mizuho boosted their price target on BrightSpring Health Services from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.21.

Insider Activity

In related news, major shareholder Kkr Group Partnership L.P. acquired 11,619,998 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were bought 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 directly owns 92,959,984 shares in the company, valued at $1,034,644,621.92. The trade was a 14.29 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. purchased a new stake in shares of BrightSpring Health Services in the first quarter worth $54,638,000. FMR LLC lifted its holdings in shares of BrightSpring Health Services by 17.2% during the third quarter. FMR LLC now owns 18,169,187 shares of the company’s stock valued at $266,724,000 after purchasing an additional 2,664,582 shares during the last quarter. Magnetar Financial LLC boosted its stake in BrightSpring Health Services by 46.9% during the 2nd 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 during the last quarter. Lisanti Capital Growth LLC bought a new position in BrightSpring Health Services during the third quarter valued at approximately $4,659,000. Finally, TD Asset Management Inc bought a new stake in shares of BrightSpring Health Services during the 2nd quarter valued at about $2,308,000.

BrightSpring Health Services Stock Down 1.8 %

NASDAQ BTSG traded down $0.34 during trading hours on Wednesday, hitting $18.64. The company’s stock had a trading volume of 170,568 shares, compared to its average volume of 1,460,628. The company has a market capitalization of $3.25 billion and a PE ratio of -73.00. The company has a current ratio of 1.35, a quick ratio of 0.97 and a debt-to-equity ratio of 1.63. BrightSpring Health Services has a 52 week low of $7.85 and a 52 week high of $20.25. The company’s 50-day simple moving average is $16.92 and its two-hundred day simple moving average is $13.69.

BrightSpring Health Services (NASDAQ:BTSG) last issued its quarterly earnings data on Friday, November 1st. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.07). The company had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.72 billion. BrightSpring Health Services had a positive return on equity of 4.16% and a negative net margin of 0.38%. BrightSpring Health Services’s revenue was up 28.8% compared to the same quarter last year. Research analysts anticipate that BrightSpring Health Services will post 0.59 EPS for the current fiscal 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.