Short Interest in BrightSpring Health Services, Inc. (NASDAQ:BTSG) Declines By 5.1%

BrightSpring Health Services, Inc. (NASDAQ:BTSG) was the target of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 8,510,000 shares, a decrease of 5.1% from the August 15th total of 8,970,000 shares. Currently, 16.0% of the shares of the company are short sold. Based on an average trading volume of 924,000 shares, the short-interest ratio is presently 9.2 days.

BrightSpring Health Services Price Performance

Shares of BTSG opened at $15.03 on Friday. The stock’s 50-day moving average price is $12.43 and its two-hundred day moving average price is $11.24. BrightSpring Health Services has a 12 month low of $7.85 and a 12 month high of $15.38. The company has a quick ratio of 1.00, a current ratio of 1.33 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 for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.08). The business had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.61 billion. BrightSpring Health Services’s quarterly revenue was up 26.0% on a year-over-year basis. As a group, research analysts expect that BrightSpring Health Services will post 0.57 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BTSG shares. The Goldman Sachs Group cut their price objective on shares of BrightSpring Health Services from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, August 9th. BTIG Research started coverage on shares of BrightSpring Health Services in a research report on Friday, June 21st. They set a “buy” rating and a $15.00 price target on the stock. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $15.32.

Insider Activity at BrightSpring Health Services

In other BrightSpring Health Services news, major shareholder Kkr Group Partnership L.P. bought 11,619,998 shares of the stock in a transaction dated Wednesday, September 11th. The shares were bought at an average cost 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 of the company’s stock, valued at $1,034,644,621.92. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Institutional Trading of BrightSpring Health Services

A number of institutional investors have recently bought and sold shares of the company. Silvercrest Asset Management Group LLC bought a new stake in shares of BrightSpring Health Services during the 1st quarter valued at about $14,179,000. Price T Rowe Associates Inc. MD bought a new position in shares of BrightSpring Health Services during the 1st quarter worth approximately $16,260,000. Capstone Investment Advisors LLC bought a new position in shares of BrightSpring Health Services during the 1st quarter worth approximately $9,722,000. TD Asset Management Inc acquired a new stake in shares of BrightSpring Health Services during the 2nd quarter worth approximately $2,308,000. Finally, Vanguard Group Inc. bought a new stake in shares of BrightSpring Health Services in the 1st quarter valued at $54,638,000.

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.