Chase Investment Counsel Corp Purchases New Position 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, Holdings Channel.com reports. The firm purchased 193,760 shares of the company’s stock, valued at approximately $8,256,000. BrightSpring Health Services makes up approximately 2.2% of Chase Investment Counsel Corp’s investment portfolio, making the stock its 14th biggest holding.

A number of other large investors have also added to or reduced their stakes in the company. NBC Securities Inc. purchased a new stake in shares of BrightSpring Health Services during the 4th quarter worth approximately $29,000. Salomon & Ludwin LLC purchased a new position in shares of BrightSpring Health Services in the fourth quarter valued at $30,000. GHP Investment Advisors Inc. purchased a new position in shares of BrightSpring Health Services in the first quarter valued at $31,000. EverSource Wealth Advisors LLC bought a new stake in BrightSpring Health Services in the second quarter worth $43,000. Finally, Meeder Asset Management Inc. bought a new stake in BrightSpring Health Services in the first quarter worth $52,000.

BrightSpring Health Services Price Performance

Shares of BrightSpring Health Services stock opened at $72.56 on Wednesday. The stock has a market cap of $14.32 billion, a price-to-earnings ratio of 51.46, a price-to-earnings-growth ratio of 0.89 and a beta of 1.79. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.38 and a current ratio of 1.74. The stock has a 50 day moving average price of $64.41 and a 200-day moving average price of $50.20. BrightSpring Health Services, Inc. has a one year low of $19.01 and a one year high of $73.40.

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

Insiders Place Their Bets

In other BrightSpring Health Services news, insider Lisa A. Nalley sold 35,000 shares of the business’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 transaction, the insider owned 131,948 shares in the company, valued at $7,751,945. The trade was a 20.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jon B. Rousseau sold 130,000 shares of the 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 completion of the sale, the insider directly owned 1,194,503 shares in the company, valued at approximately $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.

Analyst Upgrades and Downgrades

Several research firms have commented on BTSG. BTIG Research increased their price objective on shares of BrightSpring Health Services from $65.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. Raymond James Financial began coverage on shares of BrightSpring Health Services in a research note on Thursday, July 9th. They issued an “outperform” rating and a $80.00 price objective for the company. Stephens boosted their target price on shares of BrightSpring Health Services from $53.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. TD Cowen upped their target price on shares of BrightSpring Health Services from $65.00 to $81.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Finally, BMO Capital Markets set a $70.00 price target on shares of BrightSpring Health Services in a report on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $70.12.

BrightSpring Health Services Profile

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.