Latest news with #ElevanceHealth
Yahoo
2 hours ago
- Business
- Yahoo
Centene (CNC) Reports Earnings Tomorrow: What To Expect
Health coverage company Centene (NYSE:CNC) will be reporting earnings this Friday before market open. Here's what you need to know. Centene beat analysts' revenue expectations by 8.3% last quarter, reporting revenues of $46.62 billion, up 15.4% year on year. It was a strong quarter for the company, with full-year revenue guidance exceeding analysts' expectations and a solid beat of analysts' EPS estimates. It lost -656,600 customers and ended up with a total of 27.94 million. Is Centene a buy or sell going into earnings? Read our full analysis here, it's free. This quarter, analysts are expecting Centene's revenue to grow 9.6% year on year to $43.67 billion, improving from the 5.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.23 per share. The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Centene has only missed Wall Street's revenue estimates once over the last two years, exceeding top-line expectations by 7.1% on average. Looking at Centene's peers in the healthcare providers & services segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Molina Healthcare delivered year-on-year revenue growth of 15.7%, beating analysts' expectations by 4.4%, and Elevance Health reported revenues up 13.4%, topping estimates by 3%. Elevance Health traded down 19.7% following the results. Read our full analysis of Molina Healthcare's results here and Elevance Health's results here. Investors in the healthcare providers & services segment have had steady hands going into earnings, with share prices flat over the last month. Centene is down 46.1% during the same time and is heading into earnings with an average analyst price target of $52.38 (compared to the current share price of $29.14). When a company has more cash than it knows what to do with, buying back its own shares can make a lot of sense–as long as the price is right. Luckily, we've found one, a low-priced stock that is gushing free cash flow AND buying back shares. Click here to claim your Special Free Report on a fallen angel growth story that is already recovering from a setback. StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here. Sign in to access your portfolio
Reuters
5 hours ago
- Business
- Reuters
Molina Healthcare lowers annual profit forecast again on rising medical costs
July 23 (Reuters) - Molina Healthcare (MOH.N), opens new tab on Wednesday cut annual profit forecast for the second time this month, anticipating higher medical care costs to weigh on its results, sending the health insurer's shares down more than 4% in extended trading. Health insurers offering government-backed health plans, including Medicare for older adults and Medicaid for the low-income population, have faced higher-than-expected medical claims over the past two years, increasing their costs. The elevated costs were driven by increased demand for healthcare among older adults covered under Medicare, as well as changes in Medicaid eligibility, which have resulted in insurers handling a higher number of sick patients requiring more medical services. The latest forecast cut is "disproportionately attributed" to Molina's health insurance plans under the federal Obamacare marketplace and reflects medical cost trend assumptions for the second half of the year, the company said. Earlier this month, Molina and larger peer Elevance Health (ELV.N), opens new tab cut their annual profit forecasts due to persistently high medical costs, while Centene (CNC.N), opens new tab withdrew its 2025 forecast following a significant decline in expected revenue from marketplace health insurance plans. Shares of Elevance Health and Centene dropped over 1% in after-hours trading. Molina now expects adjusted full-year profit to be at least $19.00 per share, compared to its previous range of $21.50 to $22.50 per share. The health insurer projected a full-year medical cost ratio, the percentage of premiums spent on medical services, of 90.2%, higher than analysts' expectations of 88.83%. For the second quarter, Molina reported a medical cost ratio of 90.4%, exceeding estimates of 88.65%. Adjusted earnings for the quarter stood at $5.48 per share, falling short of analysts' average estimate of $5.79 per share, according to data compiled by LSEG.
Globe and Mail
20 hours ago
- Business
- Globe and Mail
Analysts Offer Insights on Healthcare Companies: Sarepta Therapeutics (SRPT), Veeva Systems (VEEV) and Elevance Health (ELV)
Companies in the Healthcare sector have received a lot of coverage today as analysts weigh in on Sarepta Therapeutics (SRPT – Research Report), Veeva Systems (VEEV – Research Report) and Elevance Health (ELV – Research Report). Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Sarepta Therapeutics (SRPT) Sarepta Therapeutics received a Hold rating and a $18.00 price target from Barclays analyst Gena Wang today. The company's shares closed last Monday at $13.32. According to Wang is a 3-star analyst with an average return of 2.8% and a 42.4% success rate. Wang covers the Healthcare sector, focusing on stocks such as Ultragenyx Pharmaceutical, 4D Molecular Therapeutics, and BioMarin Pharmaceutical. ;'> The word on The Street in general, suggests a Hold analyst consensus rating for Sarepta Therapeutics with a $30.82 average price target, which is a 140.5% upside from current levels. In a report issued on July 18, Needham also downgraded the stock to Hold with a $50.00 price target. Veeva Systems (VEEV) In a report released today, Saket Kalia from Barclays maintained a Buy rating on Veeva Systems, with a price target of $300.00. The company's shares closed last Monday at $281.00. According to Kalia is a 5-star analyst with an average return of 16.5% and a 64.2% success rate. Kalia covers the Technology sector, focusing on stocks such as CCC Intelligent Solutions Holdings, Procore Technologies, and CrowdStrike Holdings. ;'> The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Veeva Systems with a $295.52 average price target, which is a 4.5% upside from current levels. In a report issued on July 14, Wells Fargo also maintained a Buy rating on the stock with a $300.00 price target. Elevance Health (ELV) Barclays analyst Andrew Mok CFA maintained a Buy rating on Elevance Health today and set a price target of $327.00. The company's shares closed last Monday at $276.45. According to CFA is ranked 0 out of 5 stars with an average return of -8.4% and a 41.1% success rate. CFA covers the Healthcare sector, focusing on stocks such as Aveanna Healthcare Holdings, Brookdale Senior Living, and Alignment Healthcare. ;'> Currently, the analyst consensus on Elevance Health is a Strong Buy with an average price target of $380.47, a 36.7% upside from current levels. In a report issued on July 8, Bernstein also maintained a Buy rating on the stock with a $585.00 price target.
Business Insider
2 days ago
- Business
- Business Insider
RBC Capital Reaffirms Their Buy Rating on Elevance Health (ELV)
RBC Capital analyst Ben Hendrix maintained a Buy rating on Elevance Health yesterday and set a price target of $311.00. The company's shares closed yesterday at $276.45. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Hendrix covers the Healthcare sector, focusing on stocks such as Cigna, Elevance Health, and HCA Healthcare. According to TipRanks, Hendrix has an average return of 1.6% and a 46.08% success rate on recommended stocks. In addition to RBC Capital, Elevance Health also received a Buy from Bernstein's Lance Wilkes in a report issued yesterday. However, on the same day, Argus Research downgraded Elevance Health (NYSE: ELV) to a Hold. Based on Elevance Health's latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $60.04 billion and a net profit of $2.28 billion. In comparison, last year the company earned a revenue of $43.65 billion and had a net profit of $2.3 billion Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is neutral on the stock. Most recently, in April 2025, Mark Kaye, the EVP & CFO of ELV sold 4,588.00 shares for a total of $1,949,074.16.
Yahoo
2 days ago
- Business
- Yahoo
Molina Healthcare (MOH) Reports Q2: Everything You Need To Know Ahead Of Earnings
Healthcare insurance company Molina Healthcare (NYSE:MOH) will be reporting earnings this Wednesday afternoon. Here's what investors should know. Molina Healthcare beat analysts' revenue expectations by 2.6% last quarter, reporting revenues of $11.15 billion, up 12.2% year on year. It was a satisfactory quarter for the company, with a decent beat of analysts' EPS estimates but customer base in line with analysts' estimates. It added 217,000 customers to reach a total of 5.75 million. Is Molina Healthcare a buy or sell going into earnings? Read our full analysis here, it's free. This quarter, analysts are expecting Molina Healthcare's revenue to grow 10.8% year on year to $10.95 billion, slowing from the 18.7% increase it recorded in the same quarter last year. The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Molina Healthcare has a history of exceeding Wall Street's expectations, beating revenue estimates every single time over the past two years by 3.2% on average. Looking at Molina Healthcare's peers in the healthcare providers & services segment, only Elevance Health has reported results so far. It beat analysts' revenue estimates by 3%, delivering year-on-year sales growth of 13.4%. The stock was down 19.7% on the results. Read our full analysis of Elevance Health's earnings results here. Debates over possible tariffs and corporate tax adjustments have raised questions about economic stability in 2025. While some of the healthcare providers & services stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 2.1% on average over the last month. Molina Healthcare is down 39.5% during the same time. Unless you've been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story. StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.
