Chase Investment Counsel Corp Buys New Shares in BrightSpring Health Services, Inc. $BTSG

Chase Investment Counsel Corp purchased a new stake in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 193,760 shares of the company’s stock, valued at approximately $8,256,000. BrightSpring Health Services accounts for approximately 2.2% of Chase Investment Counsel Corp’s investment portfolio, making the stock its 14th largest position. Chase Investment Counsel Corp owned 0.10% of BrightSpring Health Services as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of BTSG. CWM LLC raised its stake in shares of BrightSpring Health Services by 17.5% in the fourth quarter. CWM LLC now owns 1,874 shares of the company’s stock worth $70,000 after buying an additional 279 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of BrightSpring Health Services by 17.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,826 shares of the company’s stock valued at $143,000 after acquiring an additional 565 shares during the period. Moran Wealth Management LLC increased its holdings in BrightSpring Health Services by 9.0% in the 1st quarter. Moran Wealth Management LLC now owns 6,925 shares of the company’s stock worth $295,000 after acquiring an additional 572 shares in the last quarter. GHP Investment Advisors Inc. purchased a new stake in BrightSpring Health Services in the 1st quarter worth approximately $31,000. Finally, NBC Securities Inc. bought a new stake in BrightSpring Health Services during the 4th quarter worth approximately $29,000.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on BTSG shares. Bank of America lifted their price target on shares of BrightSpring Health Services from $66.00 to $77.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. The Goldman Sachs Group started coverage on shares of BrightSpring Health Services in a research report on Monday, June 8th. They set a “buy” rating and a $71.00 price objective on the stock. Zacks Research cut shares of BrightSpring Health Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Guggenheim assumed coverage on shares of BrightSpring Health Services in a research note on Monday, July 13th. They set a “buy” rating and a $81.00 target price on the stock. Finally, UBS Group upped their target price on shares of BrightSpring Health Services from $63.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, BrightSpring Health Services presently has a consensus rating of “Buy” and a consensus price target of $70.12.

BrightSpring Health Services Stock Up 2.9%

NASDAQ BTSG opened at $72.56 on Wednesday. The stock’s 50 day moving average is $64.41 and its 200 day moving average is $50.20. The company has a current ratio of 1.74, a quick ratio of 1.38 and a debt-to-equity ratio of 1.24. BrightSpring Health Services, Inc. has a 12 month low of $19.01 and a 12 month high of $73.40. The stock has a market cap of $14.32 billion, a PE ratio of 51.46, a P/E/G ratio of 0.89 and a beta of 1.79.

BrightSpring Health Services (NASDAQ:BTSG) last announced its quarterly earnings data on Friday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.10. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.39 billion. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The company’s revenue was up 25.6% on a year-over-year basis. During the same period last year, the firm posted $0.14 EPS. Research analysts predict that BrightSpring Health Services, Inc. will post 1.7 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Lisa A. Nalley sold 35,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $58.75, for a total transaction of $2,056,250.00. Following the completion of the transaction, the insider owned 131,948 shares in the company, valued at approximately $7,751,945. This represents a 20.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jon B. Rousseau sold 130,000 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $58.75, for a total transaction of $7,637,500.00. Following the transaction, the insider directly owned 1,194,503 shares of the company’s stock, valued at $70,177,051.25. The trade was a 9.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.80% of the stock is currently owned by corporate insiders.

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.