Bright Health Group (NYSE: BHG – Get an Assessment) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday, Zacks.com reports.
According to Zacks, “Bright Health Group is a healthcare company that is building an integrated system of care, in close partnership with our care partners. The company’s differentiated approach is: built on alignment, centered consumer-driven and technology-powered. It faces the market of NeueHealth and Bright HealthCare companies. Bright Health Group is based in MINNEAPOLIS.”
Several other research companies have also recently weighed in on BHG. Barclays cut its price target on shares of Bright Health Group from $5.50 to $4.00 and set an “overweight” rating for the company in a Thursday, March 3 report. Cowen cut his price target on shares of Bright Health Group from $6.00 to $3.00 in a Thursday, March 3, report. Morgan Stanley cut its price target on shares of Bright Health Group from $4.00 to $2.00 and set an “underweight” rating for the company in a Thursday, March 3 report. Bank of America downgraded shares of Bright Health Group from a “buy” rating to an “underperform” rating in a Wednesday, March 2, research report. Finally, Royal Bank of Canada downgraded shares of Bright Health Group from an “outperform” rating to an “sector performer” rating and reduced its price target for the stock from $9.00 to 3 $.00 in a Friday, March 4, research report. Two investment analysts have assigned the stock a sell rating, seven have issued a hold rating and two have assigned the company’s stock a buy rating. According to data from MarketBeat.com, Bright Health Group has an average rating of “Hold” and an average target price of $7.32.
NYSE BHG was down $0.16 during Monday’s trading, hitting $2.13. 3,786,444 shares of shares traded in hands, compared to its average volume of 4,696,272. The company has a market capitalization of $1.34 billion and a price-earnings ratio of -0.90. The company’s 50-day moving average is $2.02. Bright Health Group has a fifty-two week minimum of $1.61 and a fifty-two week maximum of $17.93.
Bright Health Group (NYSE:BHG – Get Rating) last released quarterly earnings data on Wednesday, May 4. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analyst consensus estimates of ($0.24) by ($0.08). The company posted revenue of $1.84 billion for the quarter, compared to analysts’ estimates of $1.75 billion. Bright Health Group had a negative net margin of 27.15% and a negative return on equity of 77.69%. The company’s revenue for the quarter increased by 109.9% compared to the same quarter last year. In the same quarter of the previous year, the company posted EPS of ($0.18). On average, research analysts expect Bright Health Group to post -1.6 EPS for the current fiscal year.
In addition, director Manuel Kadre acquired 100,000 shares of the company in a transaction dated Friday March 4. The shares were purchased at an average cost of $2.09 per share, with a total value of $209,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website.
Several institutional investors and hedge funds have recently changed their holdings in the company. CM Management LLC increased its stake in shares of Bright Health Group by 66.7% in the first quarter. CM Management LLC now owns 500,000 shares of the company valued at $965,000 after acquiring an additional 200,000 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Bright Health Group by 118.6% in the first quarter. Principal Financial Group Inc. now owns 73,654 shares of the company valued at $142,000 after acquiring 39,954 additional shares last quarter. Brown Advisory Inc. increased its stake in shares of Bright Health Group to 96.7% in the first quarter. Brown Advisory Inc. now owns 432,760 shares of the company valued at $1,017,000 after acquiring an additional 212,760 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in shares of Bright Health Group in the first quarter worth approximately $221,000. Finally, Accredited Investors Inc. increased its stake in shares of Bright Health Group by 21.8% in the first quarter. Accredited Investors Inc. now owns 132,263 shares of the company valued at $255,000 after acquiring 23,713 additional shares in the last quarter.
About Bright Health Group (Get an assessment)
Bright Health Group, Inc, a health care company, offers health insurance policies in the United States. It operates in two segments, NeueHealth and Bright HealthCare. The NeueHealth segment provides virtual and in-person clinical care services to contracted patients through its owned and affiliated primary care clinics.
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