Bright Health Group, Inc. (BHG) is the leading and foremost tech-enabled care platform built for healthcare’s customer retail market. Its differentiated methodology aligns delivery of care with the care financing to approach improved results, lesser costs, and improve the client’s experience.
The price of BHG stock during regular trading on March 1, 2022, was $3.12 with a decline of 6.02%. At last check in the current market on March 2, 2022, the stock was further down by 23.48%.
BHG: Key Financials
On March 2, 2022, BHG released its unaudited financial statement of Q4 2021 ended December 31, 2021. Some of the prominent features are discussed below.
Revenue
Total revenue during Q4 2021 was recorded to be $0.96 billion versus $0.35 billion in the same period of 2020. The company observed a $0.6 billion gain in its revenue over the year. The company missed the revenue estimates of $1.08 billion.
EPS
Basic and diluted net loss per share in Q4 2021 was $0.81 billion or $1.29 against $0.16 billion or $1.20 in the same period of the previous year. The company observed a significant increase in its net loss over the year. Also, the company missed the estimates of the analysts of -$0.49.
BHG: Events and Happenings
On January 10, 2022, BHG reported its 2022 Bright HealthCare AEP/OEP Membership guidance across its Commercial and Medicare business lines. The augmented membership estimate reflects better retention and development in central markets during open enrollment. On January 5, 2022, BHG updated on its Executive management’s presentation at the 40th Annual J.P. Morgan Healthcare Conference held on January 11, 2022.
On January 3, 2022, BHG announced the completion of the offering of 750,000 shares of its convertible preferred stock. The shares were sold to Cigna Corporation subsidiaries and New Enterprise Associates affiliates. The gross proceeds from the offering were approximately $750 million.
Conclusion
BHG stock is on a declining verge for the past year as its stock position was 81% down the period. This downfall is the result of the pandemic as most other companies are facing. The recent current market stock decline was observed after the company reported its financial statement and missed the expectations of the company and analysts in revenue and EPS.
