BrightSpring Health Services (NASDAQ:BTSG) Shares Gap Down – What’s Next?

BrightSpring Health Services, Inc. (NASDAQ:BTSG) shares 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.

Analysts Set New Price Targets

Several brokerages have recently commented on BTSG. CJS Securities began coverage on shares of BrightSpring Health Services in a research report on Thursday, December 12th. They set an “outperform” rating and a $27.00 price target on the stock. Mizuho upped their price objective on BrightSpring Health Services from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Morgan Stanley lifted their target price on BrightSpring Health Services from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. UBS Group raised their price objective on BrightSpring Health Services from $22.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Finally, Bank of America boosted their target price on shares of BrightSpring Health Services from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, BrightSpring Health Services currently has an average rating of “Moderate Buy” and an average price target of $19.42.

BrightSpring Health Services Stock Down 3.9 %

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 stock’s fifty day simple moving average is $19.63 and its two-hundred day simple moving average is $16.82. The company has a market capitalization of $3.71 billion and a price-to-earnings ratio of -81.56.

Institutional Investors Weigh In On BrightSpring Health Services

A number of institutional investors and hedge funds have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in BrightSpring Health Services by 104.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 132,694 shares of the company’s stock valued at $2,260,000 after acquiring an additional 67,634 shares in the last quarter. Voloridge Investment Management LLC increased its stake in BrightSpring Health Services by 202.4% in the 4th quarter. Voloridge Investment Management LLC now owns 516,520 shares of the company’s stock valued at $8,796,000 after buying an additional 345,693 shares during the period. Two Sigma Advisers LP lifted its position in BrightSpring Health Services by 12.0% in the 4th quarter. Two Sigma Advisers LP now owns 143,100 shares of the company’s stock worth $2,437,000 after buying an additional 15,300 shares in the last quarter. Sea Cliff Partners Management LP grew its holdings in shares of 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 acquiring an additional 571,437 shares in the last quarter. Finally, ProShare Advisors LLC increased its stake in shares of BrightSpring Health Services by 48.9% in the fourth quarter. ProShare Advisors LLC now owns 15,165 shares of the company’s stock worth $258,000 after acquiring an additional 4,980 shares during the last quarter.

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.