Chase Investment Counsel Corp Invests $13.71 Million in BrightSpring Health Services, Inc. $BTSG

Chase Investment Counsel Corp bought a new stake in BrightSpring Health Services, Inc. (NASDAQ:BTSG) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 196,648 shares of the company’s stock, valued at approximately $13,714,000. BrightSpring Health Services comprises 2.9% of Chase Investment Counsel Corp’s investment portfolio, making the stock its 8th largest position. Chase Investment Counsel Corp owned 0.10% of BrightSpring Health Services at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Global Retirement Partners LLC purchased a new position in BrightSpring Health Services during the 2nd quarter worth approximately $1,988,000. Bank of New York Mellon Corp purchased a new stake in BrightSpring Health Services in the second quarter valued at approximately $118,162,000. Bellars Harris Wealth Management LLC acquired a new stake in shares of BrightSpring Health Services in the second quarter valued at approximately $4,394,000. Ausbil Investment Management Ltd acquired a new stake in shares of BrightSpring Health Services in the second quarter valued at approximately $2,005,000. Finally, Handelsbanken Fonder AB boosted its holdings in shares of BrightSpring Health Services by 40.8% in the second quarter. Handelsbanken Fonder AB now owns 36,900 shares of the company’s stock valued at $2,573,000 after acquiring an additional 10,700 shares during the period.

Analyst Ratings Changes

BTSG has been the topic of a number of recent research reports. BMO Capital Markets set a $70.00 target price on shares of BrightSpring Health Services in a report on Thursday, May 21st. Raymond James Financial initiated coverage on shares of BrightSpring Health Services in a research note on Thursday, July 9th. They set an “outperform” rating and a $80.00 price target for the company. UBS Group raised their price objective on shares of BrightSpring Health Services from $63.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Wells Fargo & Company lifted their price objective on shares of BrightSpring Health Services from $61.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Finally, The Goldman Sachs Group started coverage on shares of BrightSpring Health Services in a report on Monday, June 8th. They issued a “buy” rating and a $71.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating and eighteen have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, BrightSpring Health Services presently has an average rating of “Buy” and an average price target of $70.71.

Insider Transactions at BrightSpring Health Services

In related news, insider Lisa A. Nalley sold 35,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $58.75, for a total value of $2,056,250.00. Following the completion of the sale, the insider owned 131,948 shares in the company, valued at $7,751,945. This trade represents a 20.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jon B. Rousseau sold 130,000 shares of BrightSpring Health Services stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $58.75, for a total value of $7,637,500.00. Following the completion of the sale, the insider directly owned 1,194,503 shares in the company, valued at $70,177,051.25. This represents a 9.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 2.80% of the company’s stock.

BrightSpring Health Services Stock Performance

NASDAQ:BTSG opened at $61.71 on Monday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.59 and a quick ratio of 1.22. The firm has a market cap of $12.21 billion, a price-to-earnings ratio of 37.17, a price-to-earnings-growth ratio of 0.75 and a beta of 1.88. The firm’s fifty day moving average price is $66.64 and its 200 day moving average price is $53.48. BrightSpring Health Services, Inc. has a 1-year low of $22.36 and a 1-year high of $73.75.

BrightSpring Health Services (NASDAQ:BTSG) last announced its quarterly earnings data on Friday, July 31st. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.05. BrightSpring Health Services had a net margin of 2.55% and a return on equity of 16.73%. The company had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the prior year, the firm earned $0.22 EPS. BrightSpring Health Services’s quarterly revenue was up 23.0% on a year-over-year basis. On average, sell-side analysts expect that BrightSpring Health Services, Inc. will post 1.78 EPS for the current year.

About BrightSpring Health Services

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.