BrightSpring Health Services (NASDAQ:BTSG) Shares Gap Down – Here’s Why

Shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) gapped down prior to trading on Wednesday . The stock had previously closed at $22.15, but opened at $20.88. BrightSpring Health Services shares last traded at $21.07, with a volume of 613,588 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. UBS Group boosted their price target on shares of BrightSpring Health Services from $22.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Bank of America boosted their price objective on shares of BrightSpring Health Services from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Wells Fargo & Company boosted their price objective on shares of BrightSpring Health Services from $17.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Morgan Stanley boosted their price objective on shares of BrightSpring Health Services from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, CJS Securities assumed coverage on shares of BrightSpring Health Services in a report on Thursday, December 12th. They issued an “outperform” rating and a $27.00 price objective for the company. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $19.95.

BrightSpring Health Services Stock Down 4.5 %

The stock’s fifty day moving average is $19.81 and its 200 day moving average is $16.95. The company has a current ratio of 1.35, a quick ratio of 0.97 and a debt-to-equity ratio of 1.63. The company has a market capitalization of $3.39 billion and a P/E ratio of -74.96.

Institutional Investors Weigh In On BrightSpring Health Services

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BTSG. FMR LLC increased its position in BrightSpring Health Services by 21.6% during the 4th quarter. FMR LLC now owns 22,102,490 shares of the company’s stock valued at $376,405,000 after purchasing an additional 3,933,303 shares during the period. T. Rowe Price Investment Management Inc. bought a new position in BrightSpring Health Services during the 4th quarter valued at about $26,958,000. Norges Bank bought a new position in BrightSpring Health Services during the 4th quarter valued at about $26,065,000. Raymond James Financial Inc. bought a new position in shares of BrightSpring Health Services in the 4th quarter worth approximately $18,257,000. Finally, Sea Cliff Partners Management LP lifted its stake in shares of BrightSpring Health Services by 49.1% in the 4th quarter. Sea Cliff Partners Management LP now owns 1,735,150 shares of the company’s stock worth $29,550,000 after purchasing an additional 571,437 shares during the period.

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.