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

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

Analyst Ratings Changes

BTSG has been the topic of several analyst reports. BTIG Research initiated coverage on BrightSpring Health Services in a research note on Friday, June 21st. They set a “buy” rating and a $15.00 price objective on the stock. The Goldman Sachs Group cut their target price on 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. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, BrightSpring Health Services has an average rating of “Buy” and an average target price of $15.32.

Insider Transactions at BrightSpring Health Services

In other BrightSpring Health Services news, major shareholder Kkr Group Partnership L.P. bought 11,619,998 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was purchased at an average cost of $11.13 per share, with a total value of $129,330,577.74. Following the completion of the acquisition, the insider now owns 92,959,984 shares in the company, valued at approximately $1,034,644,621.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Hedge Funds Weigh In On BrightSpring Health Services

A number of hedge funds have recently added to or reduced their stakes in the stock. Silvercrest Asset Management Group LLC purchased a new stake in shares of BrightSpring Health Services in the first quarter valued at approximately $14,179,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of BrightSpring Health Services in the 1st quarter worth $16,260,000. Capstone Investment Advisors LLC purchased a new position in shares of BrightSpring Health Services during the first quarter valued at $9,722,000. TD Asset Management Inc purchased a new position in shares of BrightSpring Health Services during the second quarter valued at $2,308,000. Finally, Vanguard Group Inc. bought a new stake in shares of BrightSpring Health Services in the first quarter valued at about $54,638,000.

BrightSpring Health Services Trading Up 1.6 %

BTSG opened at $14.87 on Thursday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.00 and a current ratio of 1.33. The business has a fifty day moving average of $12.36 and a 200 day moving average of $11.21. BrightSpring Health Services has a 52-week low of $7.85 and a 52-week high of $15.38.

BrightSpring Health Services (NASDAQ:BTSG) last posted its quarterly earnings results on Friday, August 2nd. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.08). The firm had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.61 billion. The company’s revenue was up 26.0% compared to the same quarter last year. As a group, equities analysts predict that BrightSpring Health Services will post 0.57 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.