Barclays Chops Estimates on Coventry Health Care (CVH); Kentucky Medicaid Contract Adds Pressure
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Rating Summary:
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Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
1 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Barclays maintains an 'Equalweight' on Coventry Health Care (NYSE: CVH) price target lowered from $38 to $35.
Analyst, Joshua R. Raskin, said, "CVH reported in-line quarterly results despite significant pressure from the new Kentucky Medicaid contract. However, core guidance is being significantly reduced with an offset from a one-time benefit from the release of RADV reserves. While Coventry is confirming its GAAP 2012 guidance for EPS, the actual range is down more than 18% excluding the one-time benefit."
Raskin slashes 2012 EPS estimate from $3.20 to $2.60 and FY13 from $3.40 to $3.10
For an analyst ratings summary and ratings history on Coventry Health Care click here. For more ratings news on Coventry Health Care click here.
Shares of Coventry Health Care closed at $30.08 yesterday.
Analyst, Joshua R. Raskin, said, "CVH reported in-line quarterly results despite significant pressure from the new Kentucky Medicaid contract. However, core guidance is being significantly reduced with an offset from a one-time benefit from the release of RADV reserves. While Coventry is confirming its GAAP 2012 guidance for EPS, the actual range is down more than 18% excluding the one-time benefit."
Raskin slashes 2012 EPS estimate from $3.20 to $2.60 and FY13 from $3.40 to $3.10
For an analyst ratings summary and ratings history on Coventry Health Care click here. For more ratings news on Coventry Health Care click here.
Shares of Coventry Health Care closed at $30.08 yesterday.
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