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

BrightSpring Health Services, Inc. (NASDAQ:BTSG) was the target of a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 7,360,000 shares, a decline of 13.5% from the August 31st total of 8,510,000 shares. Based on an average daily volume of 1,160,000 shares, the days-to-cover ratio is currently 6.3 days. Currently, 13.9% of the company’s shares are sold short.

Insider Transactions at BrightSpring Health Services

In other BrightSpring Health Services news, major shareholder Kkr Group Partnership L.P. acquired 11,619,998 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was bought at an average price of $11.13 per share, with a total value of $129,330,577.74. Following the completion of the transaction, the insider now directly owns 92,959,984 shares of the company’s stock, valued at $1,034,644,621.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Hedge Funds Weigh In On BrightSpring Health Services

A number of hedge funds have recently added to or reduced their stakes in BTSG. The Manufacturers Life Insurance Company raised its holdings in shares of BrightSpring Health Services by 10.2% during the second quarter. The Manufacturers Life Insurance Company now owns 117,026 shares of the company’s stock worth $1,329,000 after purchasing an additional 10,854 shares during the period. Magnetar Financial LLC raised its stake in BrightSpring Health Services by 46.9% during the second quarter. Magnetar Financial LLC now owns 1,188,302 shares of the company’s stock worth $13,499,000 after acquiring an additional 379,149 shares during the period. Renaissance Technologies LLC raised its stake in BrightSpring Health Services by 12.3% during the second quarter. Renaissance Technologies LLC now owns 175,500 shares of the company’s stock worth $1,994,000 after acquiring an additional 19,200 shares during the period. American Century Companies Inc. bought a new position in BrightSpring Health Services in the second quarter worth about $216,000. Finally, ClariVest Asset Management LLC acquired a new position in BrightSpring Health Services in the second quarter valued at approximately $1,725,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BTSG shares. The Goldman Sachs Group decreased their target price on shares of BrightSpring Health Services from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, August 9th. BTIG Research initiated coverage on shares of BrightSpring Health Services in a research report on Friday, June 21st. They issued a “buy” rating and a $15.00 price objective for the company. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, BrightSpring Health Services has a consensus rating of “Buy” and a consensus price target of $15.32.

BrightSpring Health Services Trading Up 1.8 %

Shares of BrightSpring Health Services stock traded up $0.27 during trading on Friday, reaching $14.99. The company had a trading volume of 1,246,639 shares, compared to its average volume of 1,498,480. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.00 and a current ratio of 1.33. BrightSpring Health Services has a fifty-two week low of $7.85 and a fifty-two week high of $15.47. The firm’s fifty day moving average is $12.84 and its 200-day moving average is $11.49.

BrightSpring Health Services (NASDAQ:BTSG) last announced its quarterly earnings data on Friday, August 2nd. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.08). The business had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.61 billion. The business’s revenue was up 26.0% on a year-over-year basis. Sell-side analysts forecast that BrightSpring Health Services will post 0.57 EPS for the current year.

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.