BrightSpring Health Services, Inc. (NASDAQ:BTSG) Short Interest Up 23.0% in January

BrightSpring Health Services, Inc. (NASDAQ:BTSG - Get Free Report) was the target of a significant increase in short interest in January. As of January 15th, there was short interest totalling 9,030,000 shares, an increase of 23.0% from the December 31st total of 7,340,000 shares. Based on an average daily trading volume, of 1,380,000 shares, the days-to-cover ratio is currently 6.5 days. Approximately 16.2% of the company's stock are sold short.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. CJS Securities assumed coverage on BrightSpring Health Services in a research report on Thursday, December 12th. They set an "outperform" rating and a $27.00 price objective for the company. UBS Group boosted their price objective on BrightSpring Health Services from $22.00 to $30.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. Mizuho boosted their price objective on BrightSpring Health Services from $17.00 to $20.00 and gave the stock an "outperform" rating in a research report on Monday, November 4th. Bank of America boosted 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. Finally, Morgan Stanley boosted their target price on BrightSpring Health Services from $19.00 to $20.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 17th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $19.42.

Institutional Investors Weigh In On BrightSpring Health Services

Several large investors have recently modified their holdings of the stock. Rhumbline Advisers raised its stake in shares of BrightSpring Health Services by 1.5% during the fourth quarter. Rhumbline Advisers now owns 73,583 shares of the company's stock worth $1,253,000 after purchasing an additional 1,118 shares during the last quarter. Legato Capital Management LLC raised its stake in shares of BrightSpring Health Services by 40.0% during the fourth quarter. Legato Capital Management LLC now owns 66,910 shares of the company's stock worth $1,139,000 after purchasing an additional 19,120 shares during the last quarter. R Squared Ltd purchased a new stake in shares of BrightSpring Health Services during the fourth quarter worth approximately $74,000. SG Americas Securities LLC raised its stake in shares of BrightSpring Health Services by 50.9% during the fourth quarter. SG Americas Securities LLC now owns 37,000 shares of the company's stock worth $630,000 after purchasing an additional 12,486 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in 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 acquiring an additional 120,005 shares during the period.

BrightSpring Health Services Stock Performance

NASDAQ BTSG traded up $0.12 on Monday, reaching $23.72. The stock had a trading volume of 1,418,628 shares, compared to its average volume of 1,674,525. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.97 and a current ratio of 1.35. BrightSpring Health Services has a 12-month low of $7.85 and a 12-month high of $24.82. The business's 50-day moving average price is $18.82 and its 200 day moving average price is $16.02. The stock has a market cap of $4.13 billion and a P/E ratio of -91.23.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The company reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.07). BrightSpring Health Services had a negative net margin of 0.38% and a positive return on equity of 4.16%. The firm had revenue of $2.91 billion during the quarter, compared to analysts' expectations of $2.72 billion. The company's quarterly revenue was up 28.8% compared to the same quarter last year. As a group, equities analysts expect that BrightSpring Health Services will post 0.59 earnings per share for the current 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.