BrightSpring Health Services, Inc. (NASDAQ:BTSG) Short Interest Up 6.5% in October

BrightSpring Health Services, Inc. (NASDAQ:BTSG) saw a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 7,080,000 shares, an increase of 6.5% from the September 30th total of 6,650,000 shares. Approximately 13.4% of the company’s shares are short sold. Based on an average daily volume of 1,270,000 shares, the days-to-cover ratio is currently 5.6 days.

Wall Street Analyst Weigh In

BTSG has been the subject of a number of recent analyst reports. BTIG Research upped their price objective on shares of BrightSpring Health Services from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Guggenheim increased their price target on BrightSpring Health Services from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. KeyCorp initiated coverage on BrightSpring Health Services in a report on Friday, October 11th. They set a “sector weight” rating on the stock. UBS Group boosted their price objective on BrightSpring Health Services from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, The Goldman Sachs Group dropped 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 report on Friday, August 9th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, BrightSpring Health Services currently has an average rating of “Moderate Buy” and an average target price of $16.50.

Insider Activity

In related news, major shareholder Kkr Group Partnership L.P. acquired 11,619,998 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was acquired at an average cost of $11.13 per share, with a total value 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 approximately $1,034,644,621.92. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Investors Weigh In On BrightSpring Health Services

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. acquired a new stake in BrightSpring Health Services in the third quarter valued at $1,822,000. nVerses Capital LLC lifted its stake in BrightSpring Health Services by 195.8% in the 3rd quarter. nVerses Capital LLC now owns 14,200 shares of the company’s stock valued at $208,000 after purchasing an additional 9,400 shares during the last quarter. SG Americas Securities LLC bought a new position in BrightSpring Health Services during the third quarter worth about $360,000. The Manufacturers Life Insurance Company raised its stake in BrightSpring Health Services by 10.2% in the second quarter. The Manufacturers Life Insurance Company now owns 117,026 shares of the company’s stock valued at $1,329,000 after buying an additional 10,854 shares during the period. Finally, Magnetar Financial LLC raised its stake in BrightSpring Health Services by 46.9% in the second quarter. Magnetar Financial LLC now owns 1,188,302 shares of the company’s stock valued at $13,499,000 after buying an additional 379,149 shares during the period.

BrightSpring Health Services Trading Down 6.4 %

NASDAQ:BTSG traded down $1.02 on Wednesday, hitting $14.89. 1,689,187 shares of the company’s stock were exchanged, compared to its average volume of 1,467,424. The firm has a 50-day moving average price of $14.37 and a 200-day moving average price of $12.36. BrightSpring Health Services has a 52 week low of $7.85 and a 52 week high of $16.49. The company has a current ratio of 1.33, a quick ratio of 1.00 and a debt-to-equity ratio of 1.62.

BrightSpring Health Services (NASDAQ:BTSG) last released its earnings results on Friday, August 2nd. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.08). The company had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.61 billion. The business’s revenue for the quarter was up 26.0% on a year-over-year basis. Equities research analysts anticipate that BrightSpring Health Services will post 0.57 EPS for the current fiscal year.

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.