BrightSpring Health Services, Inc. (NASDAQ:BTSG) Sees Large Growth in Short Interest

BrightSpring Health Services, Inc. (NASDAQ:BTSG) was the target of a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 6,790,000 shares, an increase of 9.3% from the October 31st total of 6,210,000 shares. Currently, 12.2% of the company’s stock are short sold. Based on an average daily volume of 1,480,000 shares, the days-to-cover ratio is presently 4.6 days.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. KeyCorp initiated coverage on shares of BrightSpring Health Services in a report on Friday, October 11th. They set a “sector weight” rating on the stock. Mizuho lifted their target price on BrightSpring Health Services from $17.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. BTIG Research upped their price target on BrightSpring Health Services from $15.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. UBS Group lifted their price objective on BrightSpring Health Services from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company upped their target price on shares of BrightSpring Health Services from $17.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, BrightSpring Health Services presently has an average rating of “Moderate Buy” and a consensus price target of $17.21.

Insiders Place Their Bets

In related news, major shareholder Kkr Group Partnership L.P. purchased 11,619,998 shares of BrightSpring Health Services stock in a transaction dated Wednesday, September 11th. The stock was purchased at an average cost of $11.13 per share, for a total transaction of $129,330,577.74. Following the completion of the acquisition, the insider now directly owns 92,959,984 shares of the company’s stock, valued at $1,034,644,621.92. The trade was a 14.29 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets grew its position in shares of BrightSpring Health Services by 5.0% during the third quarter. BNP Paribas Financial Markets now owns 21,329 shares of the company’s stock worth $313,000 after purchasing an additional 1,011 shares in the last quarter. nVerses Capital LLC purchased a new stake in BrightSpring Health Services during the 2nd quarter valued at approximately $55,000. California State Teachers Retirement System bought a new stake in shares of BrightSpring Health Services during the first quarter valued at approximately $59,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of BrightSpring Health Services by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 440,335 shares of the company’s stock worth $6,464,000 after buying an additional 6,326 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in 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 acquiring an additional 7,750 shares in the last quarter.

BrightSpring Health Services Stock Performance

Shares of BTSG stock traded down $0.28 during mid-day trading on Wednesday, reaching $18.70. 110,880 shares of the company’s stock traded hands, compared to its average volume of 1,460,384. 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 firm has a market capitalization of $3.26 billion and a PE ratio of -73.00. BrightSpring Health Services has a 12 month low of $7.85 and a 12 month high of $20.25. The firm has a 50 day moving average price of $16.92 and a two-hundred day moving average price of $13.69.

BrightSpring Health Services (NASDAQ:BTSG) last issued its quarterly earnings results on Friday, November 1st. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). BrightSpring Health Services had a positive return on equity of 4.16% and a negative net margin of 0.38%. The company had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.72 billion. The business’s revenue for the quarter was up 28.8% compared to the same quarter last year. On average, research analysts forecast that BrightSpring Health Services will post 0.59 EPS for the current 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.