Bright Health Group, Inc. (NYSE:BHG) Receives $5.28 Average PT from Brokerages

Bright Health Group, Inc. (NYSE:BHGGet Rating) has earned a consensus rating of “Hold” from the eleven brokerages that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $5.28.

A number of equities analysts have weighed in on BHG shares. Cowen cut their price target on shares of Bright Health Group from $6.00 to $3.00 in a research note on Thursday, March 3rd. Morgan Stanley cut their target price on shares of Bright Health Group from $4.00 to $2.00 and set an “underweight” rating on the stock in a research note on Thursday, March 3rd. Royal Bank of Canada downgraded shares of Bright Health Group from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $9.00 to $3.00 in a research note on Friday, March 4th. Barclays cut their target price on shares of Bright Health Group from $5.50 to $4.00 and set an “overweight” rating on the stock in a research note on Thursday, March 3rd. Finally, The Goldman Sachs Group dropped their price target on shares of Bright Health Group from $5.00 to $3.50 and set a “neutral” rating on the stock in a research note on Thursday, March 3rd.

In other Bright Health Group news, Director Manuel Kadre purchased 100,000 shares of the firm’s stock in a transaction dated Friday, March 4th. The stock was acquired at an average cost of $2.09 per share, with a total value of $209,000.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Psagot Value Holdings Ltd. Israel boosted its stake in Bright Health Group by 601.5% during the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 7,261 shares of the company’s stock valued at $25,000 after purchasing an additional 6,226 shares during the period. Ropes Wealth Advisors LLC acquired a new position in Bright Health Group during the 4th quarter valued at about $34,000. Modus Advisors LLC acquired a new position in Bright Health Group during the 1st quarter valued at about $34,000. Magnolia Capital Advisors LLC bought a new stake in shares of Bright Health Group during the 4th quarter worth about $38,000. Finally, ProShare Advisors LLC bought a new stake in shares of Bright Health Group during the 4th quarter worth about $40,000.

Shares of NYSE BHG opened at $1.80 on Wednesday. Bright Health Group has a 1 year low of $1.71 and a 1 year high of $17.93. The firm’s 50 day moving average price is $2.15 and its 200 day moving average price is $3.59.

Bright Health Group (NYSE:BHGGet Rating) last posted its quarterly earnings results on Wednesday, March 2nd. The company reported ($1.29) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.50) by ($0.79). The business had revenue of $962.30 million for the quarter, compared to the consensus estimate of $1.08 billion. The company’s quarterly revenue was up 167.5% on a year-over-year basis. Sell-side analysts anticipate that Bright Health Group will post -1.35 earnings per share for the current year.

About Bright Health Group (Get Rating)

Bright Health Group, Inc, a healthcare company, provides health insurance policies in the United States. It operates in two segments, NeueHealth and Bright HealthCare. The NeueHealth segment delivers virtual and in-person clinical care services to patients under contracts through its owned and affiliated primary care clinics.

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