On May 23, 2023, Morgan Stanley reiterated its Underweight recommendation for Bright Health Group (NYSE:BHG), according to Fintel reports. BHG’s average one-year price target is 1.53 as of May 11, 2023, representing an 89.36% decrease from its latest reported closing price of 14.38.
According to the company’s projections, Bright Health Group’s annual revenue is expected to increase by 22.50% to reach 3,130MM. The anticipated annual non-GAAP EPS is -0.31.
213 funds or institutions reported owning BHG shares, which is a decrease of 7 owners or 3.18% in the last quarter. The average portfolio weight of all funds dedicated to BHG is 0.06%, a decrease of 29.54%. The total shares owned by institutions decreased by 0.23% to reach 460,010K shares over the last three months. The put/call ratio of BHG is 0.02, indicating a bullish outlook.
NEA Management Company, Deer Management Co., StepStone Group, Redpoint Management, and Greycroft are some of the major shareholders of Bright Health Group.
Bright Health Group aims to provide a superior consumer experience, optimize clinical outcomes, reduce systemic waste, and lower costs. The company has two market-facing businesses, namely, NeueHealth and Bright HealthCare. Through NeueHealth, it provides virtual and in-person clinical care to approximately 75,000 unique patients through its 61 affiliated risk-bearing primary care clinics. Through Bright HealthCare, the company offers Medicare and Commercial health plan products to nearly 623,000 consumers in 14 states and 99 markets.
Fintel provides key filings for Bright Health Group.
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