Short Interest in BrightSpring Health Services, Inc. (NASDAQ:BTSG) Expands By 6.2%

BrightSpring Health Services, Inc. (NASDAQ:BTSG) saw a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 7,340,000 shares, a growth of 6.2% from the November 30th total of 6,910,000 shares. Based on an average daily volume of 1,430,000 shares, the short-interest ratio is currently 5.1 days. Approximately 13.2% of the company’s stock are short sold.

BrightSpring Health Services Stock Performance

BrightSpring Health Services stock traded up $0.02 during mid-day trading on Tuesday, reaching $17.03. The company’s stock had a trading volume of 1,038,904 shares, compared to its average volume of 1,461,618. The firm has a market cap of $2.97 billion and a price-to-earnings ratio of -65.50. BrightSpring Health Services has a twelve month low of $7.85 and a twelve month high of $20.25. The business has a 50 day moving average price of $17.97 and a 200-day moving average price of $14.62. The company has a current ratio of 1.35, a quick ratio of 0.97 and a debt-to-equity ratio of 1.63.

BrightSpring Health Services (NASDAQ:BTSG) last posted its quarterly earnings results on Friday, November 1st. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.07). The business had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.72 billion. BrightSpring Health Services had a negative net margin of 0.38% and a positive return on equity of 4.16%. The firm’s revenue was up 28.8% on a year-over-year basis. Sell-side analysts predict that BrightSpring Health Services will post 0.59 EPS for the current fiscal year.

Hedge Funds Weigh In On BrightSpring Health Services

Several institutional investors have recently modified their holdings of BTSG. FMR LLC lifted its position in BrightSpring Health Services by 17.2% in the 3rd quarter. FMR LLC now owns 18,169,187 shares of the company’s stock valued at $266,724,000 after purchasing an additional 2,664,582 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of BrightSpring Health Services by 0.6% during the third quarter. Geode Capital Management LLC now owns 1,304,214 shares of the company’s stock valued at $19,150,000 after buying an additional 7,750 shares during the last quarter. State Street Corp boosted its position in shares of BrightSpring Health Services by 7.4% during the third quarter. State Street Corp now owns 1,239,628 shares of the company’s stock worth $18,198,000 after buying an additional 85,464 shares during the period. Magnetar Financial LLC grew its holdings in BrightSpring Health Services by 46.9% in the 2nd quarter. Magnetar Financial LLC now owns 1,188,302 shares of the company’s stock worth $13,499,000 after buying an additional 379,149 shares in the last quarter. Finally, HBK Investments L P increased its position in BrightSpring Health Services by 7.1% in the 3rd quarter. HBK Investments L P now owns 750,000 shares of the company’s stock valued at $11,010,000 after acquiring an additional 50,000 shares during the period.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Guggenheim upped their target price on shares of BrightSpring Health Services from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Bank of America upped their price objective on shares of BrightSpring Health Services from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Mizuho lifted their target price on BrightSpring Health Services from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. KeyCorp initiated coverage on BrightSpring Health Services in a report on Friday, October 11th. They issued a “sector weight” rating for the company. Finally, Morgan Stanley lifted their price objective on BrightSpring Health Services from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, BrightSpring Health Services has an average rating of “Moderate Buy” and an average target price of $18.65.

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.