US health insurers fall after UnitedHealth posts higher-than-expected medical costs

Humana AB

12/01/2024 12:26

** Shares of U.S. health insurers fall between ~2% and ~5%
premarket after UnitedHealth posts higher-than-expected medical
costs
    ** UnitedHealth  UNH.N  shares down 4.76% premarket; co
posts Q4 medical cost ratio of 85% which was higher than
analysts' average estimate of 83.88% - LSEG data
    ** Shares of CVS health  CVS.N  down 1.49%, Humana  HUM.N 
down 2.81%, Cigna  CI.N  down 2.41%
     ** Centene  CNC.N  shares down 3.74%, Elevance health
 ELV.N  fell 3.20%
    ** UNH again cited elevated outpatient care utilization,
primarily in Medicare, continuing the trend observed since Q2 23
- Brokerage Stephens
    ** In 2023, UNH shares were marginally down, CVS fell ~16%,
HUM fell ~11%, CI fell ~10%, CNC fell 9.5% and ELV fell ~8%

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))