Health insurance providers reported a strong second quarter, with revenues beating analysts' consensus estimates by 2.8% while next quarter's revenue guidance came in 1.7% below expectations. Clover Health reported revenues of $743.2 million, up 55.6% year on year, exceeding analysts' expectations by 2%, and its stock is up 1.9% since reporting. CVS Health posted revenues of $106.1 billion, up 7.3% year on year, outperforming analysts' expectations by 6.7%, but its stock is down 10.2% since reporting. Progyny delivered the weakest guidance update among its peers, with revenues of $350.5 million, up 5.3% year on year, and its stock is down 15.3% since the results. On average, share prices of the 12 health insurance providers stocks tracked are down 6.2% since the latest earnings results.
CVS Health CorpCVS Health beat revenue expectations but stock fell 10.2%.
Progyny IncProgyny gave weakest guidance and stock fell 15.3%.
Cencora Inc.
Clover Health Investments CorpClover Health beat revenue expectations and stock rose 1.9%.
UnitedHealth Group Incorporated