Short Interest in BrightSpring Health Services, Inc. (NASDAQ:BTSG) Declines By 15.4%

BrightSpring Health Services, Inc. (NASDAQ:BTSG) saw a large decline in short interest in the month of January. As of January 15th, there was short interest totaling 7,863,073 shares, a decline of 15.4% from the December 31st total of 9,293,617 shares. Based on an average daily volume of 1,817,357 shares, the days-to-cover ratio is presently 4.3 days. Approximately 4.5% of the shares of the company are short sold. Approximately 4.5% of the shares of the company are short sold. Based on an average daily volume of 1,817,357 shares, the days-to-cover ratio is presently 4.3 days.

BrightSpring Health Services Price Performance

Shares of NASDAQ BTSG traded down $0.40 during mid-day trading on Wednesday, reaching $38.62. 54,558 shares of the company were exchanged, compared to its average volume of 1,606,005. BrightSpring Health Services has a 52 week low of $15.48 and a 52 week high of $41.26. The company has a quick ratio of 1.38, a current ratio of 1.79 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $6.97 billion, a PE ratio of 63.60, a PEG ratio of 0.54 and a beta of 2.36. The company’s 50 day moving average price is $37.77 and its 200 day moving average price is $30.98.

Analyst Ratings Changes

A number of research analysts have weighed in on BTSG shares. Mizuho set a $45.00 target price on BrightSpring Health Services in a report on Friday, January 9th. Bank of America boosted their price objective on shares of BrightSpring Health Services from $38.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. Morgan Stanley upped their target price on shares of BrightSpring Health Services from $25.00 to $32.00 and gave the stock an “overweight” rating in a report on Tuesday, October 14th. KeyCorp raised shares of BrightSpring Health Services from a “sector weight” rating to an “overweight” rating and set a $45.00 price target for the company in a report on Friday, December 12th. Finally, CJS Securities upgraded shares of BrightSpring Health Services to a “strong-buy” rating in a research report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, BrightSpring Health Services has a consensus rating of “Moderate Buy” and an average target price of $41.33.

Hedge Funds Weigh In On BrightSpring Health Services

Several institutional investors have recently modified their holdings of BTSG. Truist Financial Corp purchased a new stake in BrightSpring Health Services in the fourth quarter worth approximately $306,000. Strs Ohio bought a new stake in shares of BrightSpring Health Services in the 4th quarter worth approximately $202,000. New York State Teachers Retirement System purchased a new stake in shares of BrightSpring Health Services in the 4th quarter valued at $1,311,000. State of New Jersey Common Pension Fund D bought a new position in shares of BrightSpring Health Services during the 4th quarter valued at $2,560,000. Finally, Mitsubishi UFJ Trust & Banking Corp raised its position in BrightSpring Health Services by 29.8% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 13,240 shares of the company’s stock worth $496,000 after purchasing an additional 3,036 shares during the period.

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.