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

BrightSpring Health Services, Inc. (NASDAQ:BTSG) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totalling 8,510,000 shares, a decline of 5.1% from the August 15th total of 8,970,000 shares. Based on an average daily volume of 924,000 shares, the days-to-cover ratio is currently 9.2 days. Approximately 16.0% of the company’s stock are short sold.

BrightSpring Health Services Stock Up 5.2 %

BTSG opened at $14.64 on Wednesday. The firm has a 50 day moving average of $12.20 and a two-hundred day moving average of $11.14. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.33 and a quick ratio of 1.00. BrightSpring Health Services has a 12-month low of $7.85 and a 12-month high of $14.89.

BrightSpring Health Services (NASDAQ:BTSG) last posted its earnings results on Friday, August 2nd. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.08). The company had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.61 billion. BrightSpring Health Services’s quarterly revenue was up 26.0% compared to the same quarter last year. On average, equities research analysts expect that BrightSpring Health Services will post 0.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on BTSG shares. The Goldman Sachs Group reduced their target price on BrightSpring Health Services from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. BTIG Research initiated coverage on shares of BrightSpring Health Services in a report on Friday, June 21st. They set a “buy” rating and a $15.00 price objective on the stock. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $15.32.

Insiders Place Their Bets

In other news, major shareholder Kkr Group Partnership L.P. purchased 11,619,998 shares of the stock in a transaction dated Wednesday, September 11th. The shares were acquired at an average cost of $11.13 per share, for a total transaction of $129,330,577.74. Following the acquisition, the insider now owns 92,959,984 shares of the company’s stock, valued at $1,034,644,621.92. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Institutional Trading of BrightSpring Health Services

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Kohlberg Kravis Roberts & Co. L.P. acquired a new position in BrightSpring Health Services in the first quarter valued at approximately $884,166,000. 8 Knots Management LLC purchased a new stake in BrightSpring Health Services during the first quarter worth $67,678,000. Vanguard Group Inc. acquired a new stake in BrightSpring Health Services during the first quarter valued at $54,638,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in BrightSpring Health Services during the first quarter valued at $35,328,000. Finally, Price T Rowe Associates Inc. MD purchased a new position in BrightSpring Health Services in the first quarter valued at $16,260,000.

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.