Humana stock plunges on dismal 2024 forecast, as insurers face soaring medical costs
Publishing timestamp: 2024-01-25 11:21:19
Summary
Humana's shares plunged after the health insurer issued full-year earnings guidance that was much lower than expected due to soaring medical costs. The company cited an increase in older adults returning to hospitals for delayed procedures, such as joint and hip replacements, as the cause of the higher expenses. This news also affected other health insurance stocks, with UnitedHealth, CVS Health, Cigna, Centene, and Elevance Health all experiencing declines.
Sentiment: NEGATIVE
Tickers: CNC, CVS, HUM, UNH, CI, ELV,
Keywords: humana inc, business, cigna corp, elevance health inc, earnings, biotech and pharmaceuticals, health care industry, social issues, unitedhealth group inc, cvs health corp, breaking news, business news, pharmaceuticals, biotechnology, centene corp,
Source: https://www.cnbc.com/2024/01/25/humana-reports-grim-2024-forecast-due-to-soaring-medical-costs.html