Short Interest in BrightSpring Health Services, Inc. (NASDAQ:BTSG) Rises By 6.2%

BrightSpring Health Services, Inc. (NASDAQ:BTSG) was the recipient of a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 7,340,000 shares, an increase of 6.2% from the November 30th total of 6,910,000 shares. Approximately 13.2% of the company’s shares are sold short. Based on an average daily trading volume, of 1,430,000 shares, the days-to-cover ratio is presently 5.1 days.

BrightSpring Health Services Price Performance

Shares of NASDAQ BTSG opened at $17.03 on Thursday. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 0.97. The company has a market cap of $2.97 billion and a price-to-earnings ratio of -65.50. The stock’s 50-day moving average is $17.99 and its two-hundred day moving average is $14.64. BrightSpring Health Services has a 1-year low of $7.85 and a 1-year high of $20.25.

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

Analyst Ratings Changes

Several research firms have issued reports on BTSG. Bank of America raised their target price on BrightSpring Health Services from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Wells Fargo & Company boosted their price objective on shares of BrightSpring Health Services from $17.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. KeyCorp assumed coverage on shares of BrightSpring Health Services in a research report on Friday, October 11th. They issued a “sector weight” rating on the stock. Mizuho lifted their price target on shares of BrightSpring Health Services from $17.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Finally, UBS Group increased their price objective on shares of BrightSpring Health Services from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $18.65.

Institutional Investors Weigh In On BrightSpring Health Services

A number of hedge funds and other institutional investors have recently modified their holdings of BTSG. JPMorgan Chase & Co. grew its stake in shares of BrightSpring Health Services by 275.2% during the third quarter. JPMorgan Chase & Co. now owns 163,618 shares of the company’s stock worth $2,402,000 after purchasing an additional 120,005 shares in the last quarter. Virtu Financial LLC purchased a new stake in BrightSpring Health Services during the 3rd quarter worth about $522,000. Geode Capital Management LLC boosted its position in shares of BrightSpring Health Services by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,304,214 shares of the company’s stock worth $19,150,000 after acquiring an additional 7,750 shares in the last quarter. Barclays PLC increased its holdings in shares of BrightSpring Health Services by 22.2% in the 3rd quarter. Barclays PLC now owns 393,725 shares of the company’s stock valued at $5,780,000 after acquiring an additional 71,633 shares during the last quarter. Finally, State Street Corp raised its position in shares of BrightSpring Health Services by 7.4% during the 3rd quarter. State Street Corp now owns 1,239,628 shares of the company’s stock worth $18,198,000 after acquiring an additional 85,464 shares in the last quarter.

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.