Short Interest in BrightSpring Health Services, Inc. (NASDAQ:BTSG) Decreases By 13.5%

BrightSpring Health Services, Inc. (NASDAQ:BTSG) was the recipient of a large decrease in short interest during the month of September. As of September 15th, there was short interest totalling 7,360,000 shares, a decrease of 13.5% from the August 31st total of 8,510,000 shares. Approximately 13.9% of the shares of the company are short sold. Based on an average daily volume of 1,160,000 shares, the short-interest ratio is currently 6.3 days.

BrightSpring Health Services Stock Up 1.8 %

NASDAQ:BTSG traded up $0.27 during trading hours on Friday, reaching $14.99. 1,246,639 shares of the company’s stock were exchanged, compared to its average volume of 1,498,480. BrightSpring Health Services has a 12 month low of $7.85 and a 12 month high of $15.47. 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 business’s 50-day simple moving average is $12.84 and its two-hundred day simple moving average is $11.49.

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

Insiders Place Their Bets

In other BrightSpring Health Services news, major shareholder Kkr Group Partnership L.P. purchased 11,619,998 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were bought at an average price of $11.13 per share, with a total value of $129,330,577.74. Following the completion of the acquisition, the insider now owns 92,959,984 shares in the company, valued at approximately $1,034,644,621.92. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Institutional Investors Weigh In On BrightSpring Health Services

Large investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its position in BrightSpring Health Services by 10.2% during the second quarter. The Manufacturers Life Insurance Company now owns 117,026 shares of the company’s stock valued at $1,329,000 after acquiring an additional 10,854 shares in the last quarter. Magnetar Financial LLC raised its holdings in shares of BrightSpring Health Services by 46.9% during the 2nd quarter. Magnetar Financial LLC now owns 1,188,302 shares of the company’s stock valued at $13,499,000 after purchasing an additional 379,149 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of BrightSpring Health Services by 12.3% in the 2nd quarter. Renaissance Technologies LLC now owns 175,500 shares of the company’s stock valued at $1,994,000 after purchasing an additional 19,200 shares during the last quarter. American Century Companies Inc. bought a new stake in BrightSpring Health Services in the second quarter worth $216,000. Finally, ClariVest Asset Management LLC acquired a new position in BrightSpring Health Services during the second quarter worth $1,725,000.

Wall Street Analysts Forecast Growth

BTSG has been the topic of a number of research analyst reports. BTIG Research initiated coverage on BrightSpring Health Services in a report on Friday, June 21st. They set a “buy” rating and a $15.00 price target on the stock. 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 research note on Friday, August 9th. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $15.32.

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.