BrightSpring Health Services, Inc. (NASDAQ:BTSG) Sees Large Decline in Short Interest

BrightSpring Health Services, Inc. (NASDAQ:BTSG - Get Free Report) was the recipient of a significant drop in short interest in October. As of October 31st, there was short interest totalling 6,210,000 shares, a drop of 12.3% from the October 15th total of 7,080,000 shares. Based on an average trading volume of 1,410,000 shares, the days-to-cover ratio is presently 4.4 days. Currently, 11.7% of the company's stock are short sold.

BrightSpring Health Services Trading Up 2.3 %

BTSG traded up $0.44 on Friday, reaching $19.63. 951,849 shares of the company's stock were exchanged, compared to its average volume of 1,490,061. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.97 and a current ratio of 1.35. The company has a market cap of $3.42 billion and a price-to-earnings ratio of -75.50. The company's 50 day moving average is $15.82 and its 200-day moving average is $13.04. BrightSpring Health Services has a twelve month low of $7.85 and a twelve month high of $20.25.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last released its quarterly earnings results 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). The firm had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.72 billion. BrightSpring Health Services had a negative net margin of 0.38% and a positive return on equity of 4.16%. The firm's revenue for the quarter was up 28.8% on a year-over-year basis. Equities analysts predict that BrightSpring Health Services will post 0.59 earnings per share for the current year.

Insider Activity at BrightSpring Health Services

In other BrightSpring Health Services news, major shareholder Kkr Group Partnership L.P. bought 11,619,998 shares of the firm's stock in a transaction that occurred on Wednesday, September 11th. The stock was purchased at an average price of $11.13 per share, for a total transaction of $129,330,577.74. Following the completion of the purchase, the insider now directly owns 92,959,984 shares in the company, valued at $1,034,644,621.92. This trade represents a 14.29 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Investors Weigh In On BrightSpring Health Services

A number of institutional investors have recently modified their holdings of the business. Geode Capital Management LLC increased its holdings in shares of BrightSpring Health Services by 0.6% in 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 during the period. Barclays PLC raised 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 worth $5,780,000 after purchasing an additional 71,633 shares in the last quarter. State Street Corp grew its holdings in shares of BrightSpring Health Services by 7.4% in 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 during the last quarter. Verition Fund Management LLC lifted its stake in BrightSpring Health Services by 34.2% during the third quarter. Verition Fund Management LLC now owns 132,918 shares of the company's stock valued at $1,951,000 after buying an additional 33,890 shares in the last quarter. Finally, HBK Investments L P grew its holdings in shares of BrightSpring Health Services by 7.1% during the third quarter. HBK Investments L P now owns 750,000 shares of the company's stock valued at $11,010,000 after buying an additional 50,000 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. The Goldman Sachs Group dropped their price target on BrightSpring Health Services from $21.00 to $18.00 and set a "buy" rating on the stock in a research note on Friday, August 9th. Guggenheim lifted their target price on shares of BrightSpring Health Services from $15.00 to $18.00 and gave the company a "buy" rating in a report on Tuesday, October 1st. Mizuho upped their price objective on BrightSpring Health Services from $17.00 to $20.00 and gave the stock an "outperform" rating in a report on Monday, November 4th. UBS Group increased their target price on shares of BrightSpring Health Services from $16.00 to $20.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Finally, BTIG Research upped their price target on shares of BrightSpring Health Services from $15.00 to $20.00 and gave the company a "buy" rating in a report on Thursday, October 3rd. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $16.79.

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.