BrightSpring Health Services (NASDAQ:BTSG) Shares Gap Down - Here's Why

Shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Get Free Report) 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.

Analyst Ratings Changes

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

BrightSpring Health Services Trading Down 4.5 %

The company has a current ratio of 1.35, a quick ratio of 0.97 and a debt-to-equity ratio of 1.63. The business's 50-day moving average is $19.81 and its two-hundred day moving average is $16.95. The firm has a market cap of $3.39 billion and a P/E ratio of -74.96.

Institutional Investors Weigh In On BrightSpring Health Services

A number of institutional investors have recently modified their holdings of BTSG. FMR LLC boosted its stake in BrightSpring Health Services by 21.6% during the 4th quarter. FMR LLC now owns 22,102,490 shares of the company's stock valued at $376,405,000 after purchasing an additional 3,933,303 shares during the period. Vanguard Group Inc. boosted its stake in BrightSpring Health Services by 5.3% during the 4th quarter. Vanguard Group Inc. now owns 5,325,093 shares of the company's stock valued at $90,686,000 after purchasing an additional 268,132 shares during the period. Invesco Ltd. boosted its stake in BrightSpring Health Services by 1.0% during the 4th quarter. Invesco Ltd. now owns 4,378,562 shares of the company's stock valued at $74,567,000 after purchasing an additional 41,991 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in BrightSpring Health Services by 13.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,698,629 shares of the company's stock valued at $45,959,000 after purchasing an additional 328,977 shares during the period. Finally, Sea Cliff Partners Management LP boosted its stake in BrightSpring Health Services by 49.1% during the 4th quarter. Sea Cliff Partners Management LP now owns 1,735,150 shares of the company's stock valued at $29,550,000 after purchasing an additional 571,437 shares during the period.

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.