Fintel reports that BlackRock has filed a 13G/A form with the SEC disclosing ownership of 10.45MM shares of Butterfly Network Inc (BFLY). This represents 6.0% of the company.
In their previous filing dated February 4, 2022 they reported 8.80MM shares and 5.20% of the company, an increase in shares of 18.71% and an increase in total ownership of 0.80% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 122.55% Upside
As of February 1, 2023, the average one-year price target for Butterfly Network is $6.12. The forecasts range from a low of $4.54 to a high of $7.88. The average price target represents an increase of 122.55% from its latest reported closing price of $2.75.
The projected annual revenue for Butterfly Network is $93MM, an increase of 27.23%. The projected annual EPS is $-0.85.
Fund Sentiment
There are 320 funds or institutions reporting positions in Butterfly Network. This is a decrease of 5 owner(s) or 1.54%.
Average portfolio weight of all funds dedicated to US:BFLY is 0.0835%, an increase of 15.6224%. Total shares owned by institutions decreased in the last three months by 2.58% to 101,145K shares.
What are large shareholders doing?
Fosun International holds 10,716,630 shares representing 5.34% ownership of the company. No change in the last quarter.
ARKG - ARK Genomic Revolution ETF holds 10,380,379 shares representing 5.18% ownership of the company. In it's prior filing, the firm reported owning 8,513,595 shares, representing an increase of 17.98%. The firm increased its portfolio allocation in BFLY by 62.33% over the last quarter.
ARK Investment Management holds 10,000,460 shares representing 4.99% ownership of the company. In it's prior filing, the firm reported owning 10,840,899 shares, representing a decrease of 8.40%. The firm decreased its portfolio allocation in BFLY by 39.97% over the last quarter.
FMCSX - Fidelity Mid-Cap Stock Fund holds 7,883,098 shares representing 3.93% ownership of the company. In it's prior filing, the firm reported owning 6,295,975 shares, representing an increase of 20.13%. The firm increased its portfolio allocation in BFLY by 33.91% over the last quarter.
Glenview Capital Management holds 5,464,751 shares representing 2.72% ownership of the company. No change in the last quarter.
Butterfly Network Background Information
(This description is provided by the company.)
Founded by Dr. Jonathan Rothberg in 2011, Butterfly has created the world's first handheld, single-probe whole-body ultrasound system using its patented Ultrasound-on-Chip™ semiconductor technology. Butterfly's mission is to democratize medical imaging and contribute to the aspiration of global health equity, including for the 4.7 billion people around the world lacking access to ultrasound. Butterfly is paving the way for earlier detection and remote management of health conditions around the world. The Butterfly iQ can be purchased today by healthcare practitioners in the United States, Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Italy, the Netherlands, New Zealand, Norway, Poland, Portugal, Spain, Sweden, Switzerland, and the United Kingdom. Butterfly iQ is a prescription device intended for trained and qualified healthcare professionals only.
This story originally appeared on Fintel.
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