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

BrightSpring Health Services, Inc. (NASDAQ:BTSG) saw a large 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. Approximately 13.2% of the company’s shares are short sold. Based on an average daily trading volume, of 1,430,000 shares, the short-interest ratio is presently 5.1 days.

Hedge Funds Weigh In On BrightSpring Health Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of BrightSpring Health Services by 17.2% in the third 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 period. Geode Capital Management LLC increased its holdings in BrightSpring Health Services by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,304,214 shares of the company’s stock worth $19,150,000 after buying an additional 7,750 shares during the period. State Street Corp raised its position in BrightSpring Health Services by 7.4% during the 3rd 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 last quarter. Magnetar Financial LLC raised its position in BrightSpring Health Services by 46.9% during 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 during the last quarter. Finally, HBK Investments L P boosted its holdings in shares of 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 last quarter.

Analyst Ratings Changes

Several research firms have issued reports on BTSG. Guggenheim boosted their price objective on shares of BrightSpring Health Services from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. BTIG Research increased their price objective on BrightSpring Health Services from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Bank of America lifted their target price on BrightSpring Health Services from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. CJS Securities assumed coverage on BrightSpring Health Services in a research report on Thursday, December 12th. They set an “outperform” rating and a $27.00 price target on the stock. Finally, Mizuho raised their price target on BrightSpring Health Services from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, BrightSpring Health Services currently has an average rating of “Moderate Buy” and a consensus target price of $18.65.

BrightSpring Health Services Stock Up 0.1 %

BTSG stock traded up $0.02 on Wednesday, hitting $17.03. 1,038,904 shares of the company’s stock were exchanged, compared to its average volume of 1,461,618. The firm has a 50 day moving average price of $17.99 and a two-hundred day moving average price of $14.64. BrightSpring Health Services has a 12-month low of $7.85 and a 12-month high of $20.25. The stock has a market cap of $2.97 billion and a P/E ratio of -65.50. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.97 and a current ratio of 1.35.

BrightSpring Health Services (NASDAQ:BTSG) last posted its quarterly earnings data on Friday, November 1st. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.07). The company had revenue of $2.91 billion for 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 business’s quarterly revenue was up 28.8% compared to the same quarter last year. As a group, equities research analysts expect that BrightSpring Health Services will post 0.59 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.