BrightSpring Health Services (NASDAQ:BTSG) Shares Gap Down – Here’s Why

BrightSpring Health Services, Inc. (NASDAQ:BTSG)’s stock price gapped down prior to trading 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.

Wall Street Analyst Weigh In

BTSG has been the topic of several recent research reports. Morgan Stanley increased their price objective on shares of BrightSpring Health Services from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. CJS Securities assumed coverage on shares of BrightSpring Health Services in a report on Thursday, December 12th. They issued an “outperform” rating and a $27.00 target price for the company. Bank of America increased their target price on shares of BrightSpring Health Services from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. UBS Group increased their target price on shares of BrightSpring Health Services from $22.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company increased their target price on shares of BrightSpring Health Services from $17.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.95.

BrightSpring Health Services Stock Performance

The business’s fifty day moving average is $19.81 and its two-hundred day moving average is $16.95. 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 has a market capitalization of $3.39 billion and a PE ratio of -74.96.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BTSG. Quarry LP purchased a new position in shares of BrightSpring Health Services in the fourth quarter valued at $29,000. R Squared Ltd purchased a new position in shares of BrightSpring Health Services in the fourth quarter valued at $74,000. Intech Investment Management LLC purchased a new position in shares of BrightSpring Health Services in the third quarter valued at $159,000. Envestnet Asset Management Inc. purchased a new position in shares of BrightSpring Health Services in the fourth quarter valued at $188,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of BrightSpring Health Services in the fourth quarter valued at $206,000.

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.