BrightSpring Health Services (NASDAQ:BTSG) Sees Strong Trading Volume – Time to Buy?

BrightSpring Health Services, Inc. (NASDAQ:BTSG) saw unusually-strong trading volume on Tuesday . Approximately 3,711,785 shares traded hands during 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 Upgrades and Downgrades

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

BrightSpring Health Services Trading Down 0.5 %

The company has a fifty day moving average price of $13.47 and a 200-day moving average price of $11.94. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.33 and a quick ratio of 1.00.

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

Insider Activity

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. nVerses Capital LLC purchased a new position in shares of BrightSpring Health Services during the 2nd quarter worth about $55,000. Ameritas Investment Partners Inc. purchased a new position in shares of BrightSpring Health Services during the first quarter valued at approximately $58,000. California State Teachers Retirement System purchased a new position in shares of BrightSpring Health Services during the first quarter valued at approximately $59,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of BrightSpring Health Services during the second quarter valued at approximately $126,000. Finally, Arizona State Retirement System purchased a new stake in shares of BrightSpring Health Services in the second quarter worth approximately $163,000.

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.