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

Key Points

• Short interest surged 40% in March to 10,239,287 shares as of March 31, representing about 5.5% of shares short and a short-interest ratio of 3.0 trading days.
• Analysts remain broadly positive with an average rating of "Buy" and an average target of $45.50; recent price targets from firms range roughly $48–$55, and ratings include 2 Strong Buy, 14 Buy and 1 Hold.
• Insiders have been net sellers recently, offloading 285,000 shares worth about $11.73 million over the past 90 days (including large March 4 sales), with insiders owning 3.40% of the company.

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

Analysts Set New Price Targets

A number of research firms have commented on BTSG. Cantor Fitzgerald set a $49.00 target price on BrightSpring Health Services in a report on Monday, March 2nd. BTIG Research reaffirmed a "buy" rating and set a $55.00 target price on shares of BrightSpring Health Services in a report on Thursday, March 19th. Weiss Ratings reiterated a "hold (c)" rating on shares of BrightSpring Health Services in a research note on Monday, December 29th. Wells Fargo & Company upped their price objective on BrightSpring Health Services from $43.00 to $50.00 and gave the stock an "overweight" rating in a research note on Monday, March 2nd. Finally, Morgan Stanley lifted their target price on BrightSpring Health Services from $40.00 to $48.00 and gave the company an "overweight" rating in a research report on Wednesday, March 4th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $45.50.

BrightSpring Health Services Stock Down 1.0%

NASDAQ BTSG opened at $45.57 on Wednesday. The stock has a 50 day moving average price of $41.55 and a 200-day moving average price of $37.30. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.12 and a current ratio of 1.57. BrightSpring Health Services has a one year low of $15.48 and a one year high of $46.72. The company has a market capitalization of $8.80 billion, a P/E ratio of 51.78, a P/E/G ratio of 0.61 and a beta of 2.03.

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

Insider Buying and Selling at BrightSpring Health Services

In other BrightSpring Health Services news, CFO Jennifer A. Phipps sold 35,000 shares of the business's stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $41.15, for a total transaction of $1,440,250.00. Following the transaction, the chief financial officer directly owned 196,840 shares of the company's stock, valued at approximately $8,099,966. The trade was a 15.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jon B. Rousseau sold 220,000 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total transaction of $9,053,000.00. Following the completion of the transaction, the insider owned 1,023,880 shares of the company's stock, valued at approximately $42,132,662. The trade was a 17.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 285,000 shares of company stock worth $11,727,750 over the last ninety days. Insiders own 3.40% of the company's stock.

Institutional Trading of BrightSpring Health Services

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in BrightSpring Health Services by 30.5% during the fourth quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company's stock valued at $469,385,000 after buying an additional 2,928,953 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in BrightSpring Health Services by 4.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,662,236 shares of the company's stock valued at $399,302,000 after purchasing an additional 478,436 shares in the last quarter. Invesco Ltd. raised its position in shares of BrightSpring Health Services by 13.4% during the 4th quarter. Invesco Ltd. now owns 10,595,232 shares of the company's stock worth $396,791,000 after purchasing an additional 1,248,107 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in BrightSpring Health Services by 21.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,123,865 shares of the company's stock valued at $229,339,000 after buying an additional 1,091,757 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in BrightSpring Health Services by 12.1% in the 2nd quarter. Alliancebernstein L.P. now owns 5,450,085 shares of the company's stock worth $128,568,000 after buying an additional 588,642 shares during the last quarter.

BrightSpring Health Services Company Profile

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.

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