BrightSpring Health Services (NASDAQ:BTSG) Sees Large Volume Increase – Here’s What Happened

Shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) saw unusually-high trading volume on Tuesday . Approximately 3,711,785 shares changed hands during mid-day trading, an increase of 150% from the previous session’s volume of 1,485,309 shares.The stock last traded at $15.64 and had previously closed at $15.29.

Analyst Ratings Changes

A number of equities research analysts recently commented on BTSG shares. The Goldman Sachs Group decreased their target price on BrightSpring Health Services from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. BTIG Research raised their target price on shares of BrightSpring Health Services from $15.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. KeyCorp began coverage on shares of BrightSpring Health Services in a research note on Friday, October 11th. They set a “sector weight” rating on the stock. Finally, Guggenheim boosted their target price on shares of BrightSpring Health Services from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, BrightSpring Health Services has a consensus rating of “Moderate Buy” and a consensus target price of $16.05.

BrightSpring Health Services Price Performance

The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.00 and a current ratio of 1.33. The firm has a 50 day moving average of $13.64 and a two-hundred day moving average of $12.00.

BrightSpring Health Services (NASDAQ:BTSG) last posted its quarterly earnings data on Friday, August 2nd. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.08). The business had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.61 billion. The company’s revenue for the quarter was up 26.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that BrightSpring Health Services, Inc. will post 0.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other BrightSpring Health Services news, major shareholder Kkr Group Partnership L.P. acquired 11,619,998 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was acquired at an average cost of $11.13 per share, with a total value of $129,330,577.74. Following the purchase, the insider now directly owns 92,959,984 shares in the company, valued at approximately $1,034,644,621.92. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link.

Hedge Funds Weigh In On BrightSpring Health Services

A number of hedge funds have recently made changes to their positions in the stock. nVerses Capital LLC grew its stake in shares of BrightSpring Health Services by 195.8% during the third quarter. nVerses Capital LLC now owns 14,200 shares of the company’s stock valued at $208,000 after acquiring an additional 9,400 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of BrightSpring Health Services during the third quarter worth about $360,000. The Manufacturers Life Insurance Company raised its stake in BrightSpring Health Services by 10.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 117,026 shares of the company’s stock valued at $1,329,000 after acquiring an additional 10,854 shares in the last quarter. Magnetar Financial LLC lifted its stake in shares of BrightSpring Health Services by 46.9% in the 2nd quarter. Magnetar Financial LLC now owns 1,188,302 shares of the company’s stock worth $13,499,000 after acquiring an additional 379,149 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in shares of BrightSpring Health Services by 12.3% in the second quarter. Renaissance Technologies LLC now owns 175,500 shares of the company’s stock valued at $1,994,000 after acquiring an additional 19,200 shares in the last quarter.

BrightSpring Health Services Company Profile

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.