Bright Health Group (BHG) Set to Announce Quarterly Earnings on Wednesday

Bright Health Group (NYSE:BHGGet Rating) is set to release its earnings data before the market opens on Wednesday, May 4th. Analysts expect Bright Health Group to post earnings of ($0.25) per share for the quarter. Bright Health Group has set its FY 2022 guidance at EPS.Individual interested in participating in the company’s earnings conference call can do so using this link.

Bright Health Group (NYSE:BHGGet Rating) last issued its quarterly earnings data on Wednesday, March 2nd. The company reported ($1.29) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.45) by ($0.84). The business had revenue of $962.30 million for the quarter, compared to analyst estimates of $1.08 billion. The firm’s quarterly revenue was up 167.5% compared to the same quarter last year. On average, analysts expect Bright Health Group to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Shares of BHG stock opened at $1.81 on Wednesday. Bright Health Group has a 52-week low of $1.71 and a 52-week high of $17.93. The company has a 50-day simple moving average of $2.25 and a two-hundred day simple moving average of $3.70.

In other Bright Health Group news, Director Manuel Kadre purchased 100,000 shares of the company’s stock in a transaction that occurred on Friday, March 4th. The shares were bought at an average cost of $2.09 per share, for a total transaction of $209,000.00. The purchase was disclosed in a filing with the SEC, which is available at this link.

Hedge funds have recently made changes to their positions in the stock. Alliancebernstein L.P. purchased a new stake in shares of Bright Health Group during the 4th quarter valued at approximately $40,000. LPL Financial LLC purchased a new stake in shares of Bright Health Group during the 4th quarter valued at approximately $46,000. Parametric Portfolio Associates LLC purchased a new stake in shares of Bright Health Group during the 4th quarter valued at approximately $50,000. Wells Fargo & Company MN purchased a new stake in Bright Health Group in the 2nd quarter worth approximately $94,000. Finally, The Manufacturers Life Insurance Company lifted its stake in Bright Health Group by 30.2% in the 4th quarter. The Manufacturers Life Insurance Company now owns 38,321 shares of the company’s stock worth $132,000 after purchasing an additional 8,879 shares in the last quarter.

A number of equities research analysts have issued reports on the stock. Bank of America downgraded shares of Bright Health Group from a “buy” rating to an “underperform” rating in a research report on Wednesday, March 2nd. The Goldman Sachs Group reduced their price objective on shares of Bright Health Group from $5.00 to $3.50 and set a “neutral” rating for the company in a research report on Thursday, March 3rd. Zacks Investment Research downgraded shares of Bright Health Group from a “hold” rating to a “sell” rating in a research report on Friday, April 22nd. Cowen reduced their target price on shares of Bright Health Group from $6.00 to $3.00 in a research report on Thursday, March 3rd. Finally, Morgan Stanley reduced their target price on shares of Bright Health Group from $4.00 to $2.00 and set an “underweight” rating for the company in a research report on Thursday, March 3rd. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Bright Health Group presently has a consensus rating of “Hold” and an average price target of $7.32.

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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