Short Interest in BrightSpring Health Services, Inc. (NASDAQ:BTSG) Increases By 40.0%

BrightSpring Health Services, Inc. (NASDAQ:BTSG) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totaling 10,239,287 shares, an increase of 40.0% from the March 15th total of 7,315,241 shares. Approximately 5.5% of the shares of the company are short sold. Based on an average daily volume of 3,400,414 shares, the short-interest ratio is currently 3.0 days.

Wall Street Analyst Weigh In

Several analysts recently issued reports on BTSG shares. BMO Capital Markets reissued an “outperform” rating and issued a $46.00 price target on shares of BrightSpring Health Services in a report on Friday, January 23rd. Zacks Research raised BrightSpring Health Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 3rd. BTIG Research reissued a “buy” rating and issued a $55.00 price target on shares of BrightSpring Health Services in a report on Thursday, March 19th. TD Cowen restated a “buy” rating on shares of BrightSpring Health Services in a research report on Monday, March 2nd. Finally, UBS Group raised their target price on BrightSpring Health Services from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, March 18th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, BrightSpring Health Services presently has an average rating of “Buy” and a consensus target price of $45.50.

Insider Buying and Selling

In related news, CFO Jennifer A. Phipps sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total value of $1,440,250.00. Following the sale, the chief financial officer owned 196,840 shares of the company’s stock, valued at approximately $8,099,966. This trade represents a 15.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jon B. Rousseau sold 220,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total value of $9,053,000.00. Following the completion of the sale, the insider directly owned 1,023,880 shares in the company, valued at approximately $42,132,662. This trade represents a 17.69% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 285,000 shares of company stock valued at $11,727,750. Insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On BrightSpring Health Services

Several hedge funds have recently modified their holdings of BTSG. Vanguard Group Inc. increased its position in shares of BrightSpring Health Services by 30.5% during the 4th quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company’s stock valued at $469,385,000 after purchasing an additional 2,928,953 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of BrightSpring Health Services by 936.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,276,583 shares of the company’s stock valued at $53,705,000 after purchasing an additional 2,056,920 shares during the period. State Street Corp increased its position in shares of BrightSpring Health Services by 99.5% during the 4th quarter. State Street Corp now owns 4,033,149 shares of the company’s stock valued at $151,041,000 after purchasing an additional 2,011,095 shares during the period. Jane Street Group LLC increased its position in shares of BrightSpring Health Services by 855.4% during the 2nd quarter. Jane Street Group LLC now owns 2,076,730 shares of the company’s stock valued at $48,990,000 after purchasing an additional 1,859,369 shares during the period. Finally, 8 Knots Management LLC acquired a new position in shares of BrightSpring Health Services during the 3rd quarter valued at $51,244,000.

BrightSpring Health Services Stock Down 0.5%

BTSG opened at $45.80 on Friday. BrightSpring Health Services has a 12 month low of $15.48 and a 12 month high of $46.72. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.57 and a quick ratio of 1.12. The stock has a market cap of $8.85 billion, a P/E ratio of 52.05, a P/E/G ratio of 0.61 and a beta of 2.03. The stock’s 50 day moving average price is $41.88 and its 200 day moving average price is $37.42.

BrightSpring Health Services (NASDAQ:BTSG) last posted its earnings results on Friday, February 27th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.01). BrightSpring Health Services had a net margin of 1.48% and a return on equity of 12.66%. The business had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same quarter in the prior year, the business earned $0.11 earnings per share. The firm’s revenue was up 29.3% compared to the same quarter last year. As a group, research analysts predict that BrightSpring Health Services will post 0.59 earnings per share for the current year.

About BrightSpring Health Services

BrightSpring Health Services (NASDAQ: BTSG) is a leading provider of home and community-based care and workforce solutions aimed at seniors, individuals with disabilities and those facing behavioral health challenges. The company’s operations encompass a broad spectrum of services, including personal care, skilled nursing, therapy, habilitation and supported living, as well as specialized behavioral health programs delivered through both clinical and non-clinical channels.

Through its network of subsidiary brands, BrightSpring offers integrated care in the patient’s home environment, fostering independence and improving quality of life.