Bright Health Group (NYSE:BHG) Trading Down 11.3%

Bright Health Group, Inc. (NYSE:BHGGet Rating) fell 11.3% during trading on Tuesday . The stock traded as low as $1.89 and last traded at $1.89. 61,799 shares changed hands during trading, a decline of 99% from the average session volume of 4,696,272 shares. The stock had previously closed at $2.13.

Several brokerages have commented on BHG. Barclays lowered their target price on Bright Health Group from $5.50 to $4.00 and set an “overweight” rating for the company in a research note on Thursday, March 3rd. Piper Sandler reduced their target price on Bright Health Group from $10.00 to $5.00 and set an “overweight” rating on the stock in a report on Thursday, March 3rd. Zacks Investment Research upgraded Bright Health Group from a “sell” rating to a “hold” rating in a report on Monday. The Goldman Sachs Group reduced their target price on Bright Health Group from $5.00 to $3.50 and set a “neutral” rating on the stock in a report on Thursday, March 3rd. Finally, Morgan Stanley reduced their target price on Bright Health Group from $4.00 to $2.00 and set an “underweight” rating on the stock in a report on Thursday, March 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $7.32.

The stock has a market cap of $1.20 billion and a P/E ratio of -0.90. The company has a 50 day simple moving average of $2.00.

Bright Health Group (NYSE:BHGGet Rating) last posted its quarterly earnings results on Wednesday, May 4th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.08). The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.75 billion. Bright Health Group had a negative return on equity of 77.69% and a negative net margin of 27.15%. The firm’s revenue was up 109.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.18) EPS. Analysts anticipate that Bright Health Group, Inc. will post -1.6 earnings per share for the current fiscal year.

In other news, Director Manuel Kadre purchased 100,000 shares of the business’s stock in a transaction dated Friday, March 4th. The stock was bought at an average price of $2.09 per share, for a total transaction of $209,000.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

A number of hedge funds have recently bought and sold shares of BHG. Deer Management Co. LLC purchased a new position in Bright Health Group during the 4th quarter valued at about $74,986,000. StepStone Group LP purchased a new position in shares of Bright Health Group during the third quarter worth about $364,352,000. Redpoint Management LLC purchased a new position in shares of Bright Health Group during the fourth quarter worth about $52,185,000. Greycroft LP purchased a new position in shares of Bright Health Group during the fourth quarter worth about $38,075,000. Finally, Legacy Wealth Asset Management LLC purchased a new position in shares of Bright Health Group during the fourth quarter worth about $21,836,000.

Bright Health Group Company Profile (NYSE:BHG)

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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