Coventry Heath Care's Profit Up Almost 12 Percent

From the Associated Press:
Bethesda-based Coventry Health Care Inc. said Tuesday its second-quarter profit rose 11.7 percent on an increase in managed care premiums.

The health insurer earned $151.3 million, or 96 cents per share, compared with profit of $135.5 million, or 84 cents per share, during the same period a year prior. Revenue rose 19.9 percent to $2.33 billion from $1.94 billion. Analysts polled by Thomson Financial expected profit of 95 cents per share on revenue of $2.35 billion.

The company has a total membership of 2.73 million as of June 30. Its medical loss ratio was 77.5 percent during the quarter.

By Mike Shepard  |  July 31, 2007; 10:25 AM ET  | Category:  Healthcare
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