Short Interest in BrightSpring Health Services, Inc. (NASDAQ:BTSG) Rises By 6.5%

BrightSpring Health Services, Inc. (NASDAQ:BTSG - Get Free Report) was the target of a significant increase in short interest in October. As of October 15th, there was short interest totalling 7,080,000 shares, an increase of 6.5% from the September 30th total of 6,650,000 shares. Currently, 13.4% of the company's stock are sold short. Based on an average daily trading volume, of 1,270,000 shares, the days-to-cover ratio is presently 5.6 days.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Guggenheim lifted their price target on shares of BrightSpring Health Services from $15.00 to $18.00 and gave the stock a "buy" rating in a research report on Tuesday, October 1st. UBS Group boosted their target price 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. The Goldman Sachs Group lowered their target price on shares of BrightSpring Health Services from $21.00 to $18.00 and set a "buy" rating on the stock in a report on Friday, August 9th. BTIG Research upped their price objective on BrightSpring Health Services from $15.00 to $20.00 and gave the stock a "buy" rating in a report on Thursday, October 3rd. Finally, KeyCorp assumed coverage on BrightSpring Health Services in a research note on Friday, October 11th. They issued a "sector weight" rating for the company. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $16.50.

Insider Activity

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 on Wednesday, September 11th. The shares were bought at an average cost of $11.13 per share, with a total value of $129,330,577.74. Following the transaction, the insider now directly owns 92,959,984 shares in the company, valued at approximately $1,034,644,621.92. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Institutional Trading of BrightSpring Health Services

Large investors have recently made changes to their positions in the business. nVerses Capital LLC purchased a new stake in shares of BrightSpring Health Services during the second quarter valued at about $55,000. Ameritas Investment Partners Inc. acquired a new position in shares of BrightSpring Health Services during the 1st quarter worth about $58,000. California State Teachers Retirement System acquired a new position in BrightSpring Health Services during the first quarter worth about $59,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in BrightSpring Health Services during the second quarter worth $126,000. Finally, Arizona State Retirement System acquired a new position in BrightSpring Health Services in the 2nd quarter valued at about $163,000.

BrightSpring Health Services Stock Performance

NASDAQ BTSG traded down $0.95 on Wednesday, hitting $14.96. The company's stock had a trading volume of 3,744,053 shares, compared to its average volume of 1,478,736. BrightSpring Health Services has a 52-week low of $7.85 and a 52-week high of $16.49. The company has a current ratio of 1.33, a quick ratio of 1.00 and a debt-to-equity ratio of 1.62. The company's 50-day simple moving average is $14.37 and its 200 day simple moving average is $12.36.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last released 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 company had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.61 billion. The company's revenue was up 26.0% compared to the same quarter last year. As a group, analysts expect that BrightSpring Health Services will post 0.57 earnings per share for the current fiscal 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.