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

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

BrightSpring Health Services Price Performance

NASDAQ:BTSG traded up $0.27 on Friday, hitting $14.99. The stock had a trading volume of 1,246,639 shares, compared to its average volume of 1,498,480. The company has a fifty day moving average price of $12.84 and a two-hundred day moving average price of $11.51. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.00 and a current ratio of 1.33. BrightSpring Health Services has a 1-year low of $7.85 and a 1-year high of $15.47.

BrightSpring Health Services (NASDAQ:BTSG) last released its quarterly earnings data on Friday, August 2nd. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.08). The company had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.61 billion. The business’s revenue was up 26.0% compared to the same quarter last year. As a group, equities research analysts predict that BrightSpring Health Services will post 0.57 earnings per share for the current year.

Analyst Ratings Changes

BTSG has been the topic of several research reports. BTIG Research started coverage on shares of BrightSpring Health Services in a research note on Friday, June 21st. They issued a “buy” rating and a $15.00 price target on the stock. The Goldman Sachs Group decreased 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 analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $15.32.

Insiders Place Their Bets

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

Institutional Trading of BrightSpring Health Services

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Kohlberg Kravis Roberts & Co. L.P. acquired a new position in BrightSpring Health Services in the first quarter valued at about $884,166,000. 8 Knots Management LLC purchased a new position in shares of BrightSpring Health Services during the 1st quarter worth approximately $67,678,000. Vanguard Group Inc. purchased a new position in shares of BrightSpring Health Services during the 1st quarter worth approximately $54,638,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in BrightSpring Health Services in the 1st quarter valued at approximately $35,328,000. Finally, Price T Rowe Associates Inc. MD purchased a new stake in BrightSpring Health Services in the first quarter valued at approximately $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.