On average health plan stock prices gained 0.9% for the month. Seven of the thirteen health plans had increases in stock prices. The market as a whole increased by 4.3%. Valuation indicators declined for the month of April.
Nine of the thirteen publicly-traded health plans announced earnings last month. Humana saw net income increase 40.4% to $71.2 million, while UnitedHealth Group experienced a 16.6% increase in net income to $1.0 billion. HealthNet reported increased earnings per share of 19.3% while AMERIGROUP Corporation reported a 42.9% decline in net income for the first quarter. Other firms that reported were Aetna, Centene, Coventry Health Care, Sierra Health Services, and WellPoint.
CIGNA declared a threefor- one stock spilt, in the form of a stock dividend for shareholders on record on May 21, 2007.
Coventry Health Care completed its $388 million acquisition of Concentra’s worker’s compensation managed care business. Centene Corporation announced Total Carolina Care, its wholly-owned subsidiary, has entered into an agreement to purchase PhyTrust of South Carolina, a firm assisting in the medical management of Medicaid beneficiaries. Coventry Health Care has entered into a definitive agreement to acquire certain group health insurance businesses from Mutual of Omaha.
Centene announced that Edmund E. Kroll, Managing Director and Senior Health Care Services Analyst for Cowen & Company, will be the next Senior Vice President, Finance and Investor Relations, replacing Lisa Wilson, Senior Vice President, Investor Relations, who will be returning to her investor relations company, In-Site Communications, Inc. UnitedHealth Group has appointed Thomas L. Strickland as Executive Vice President and Chief Legal Officer beginning May 28, 2007.
This is our look at the cost to shareholders of stock-based incentives granted to company management. We estimate the impact of the exercise of options and vesting of Restricted Stock Units on historical net earnings and shareholder dilution.
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