Clover Health Investments, Corp. (NASDAQ:CLOV – Get Rating) – Analysts at SVB Leerink increased their Q2 2022 earnings per share (EPS) estimates for Clover Health Investments in a report released on Monday, May 9th. SVB Leerink analyst W. Mayo now forecasts that the company will earn ($0.19) per share for the quarter, up from their prior forecast of ($0.25). SVB Leerink has a “Market Perform” rating and a $2.50 price target on the stock. SVB Leerink also issued estimates for Clover Health Investments’ Q3 2022 earnings at ($0.20) EPS, Q4 2022 earnings at ($0.24) EPS, Q1 2023 earnings at ($0.17) EPS, Q2 2023 earnings at ($0.14) EPS, Q3 2023 earnings at ($0.14) EPS, Q4 2023 earnings at ($0.16) EPS, FY2023 earnings at ($0.61) EPS, FY2024 earnings at ($0.38) EPS, FY2025 earnings at ($0.11) EPS and FY2026 earnings at $0.27 EPS.
Clover Health Investments (NASDAQ:CLOV – Get Rating) last posted its quarterly earnings data on Monday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.18). The company had revenue of $432.04 million for the quarter, compared to the consensus estimate of $412.00 million. Clover Health Investments had a negative return on equity of 112.18% and a negative net margin of 28.64%.
NASDAQ:CLOV opened at $2.61 on Thursday. The firm has a market cap of $1.24 billion, a PE ratio of -1.79 and a beta of 1.75. Clover Health Investments has a 12 month low of $1.95 and a 12 month high of $28.85. The company has a quick ratio of 2.02, a current ratio of 1.16 and a debt-to-equity ratio of 0.04. The company’s 50-day moving average price is $3.07 and its two-hundred day moving average price is $3.76.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC acquired a new position in shares of Clover Health Investments in the first quarter valued at about $3,390,000. Charles Schwab Investment Management Inc. lifted its position in shares of Clover Health Investments by 2.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,369,743 shares of the company’s stock valued at $4,863,000 after acquiring an additional 32,755 shares in the last quarter. Lazard Asset Management LLC purchased a new position in Clover Health Investments during the first quarter worth approximately $35,000. XTX Topco Ltd acquired a new stake in Clover Health Investments during the first quarter worth $60,000. Finally, Baird Financial Group Inc. increased its stake in Clover Health Investments by 86.6% during the first quarter. Baird Financial Group Inc. now owns 53,874 shares of the company’s stock worth $191,000 after acquiring an additional 25,000 shares during the last quarter. Hedge funds and other institutional investors own 23.26% of the company’s stock.
In other Clover Health Investments news, Director Chelsea Clinton acquired 100,000 shares of Clover Health Investments stock in a transaction that occurred on Thursday, March 3rd. The stock was bought at an average cost of $2.53 per share, for a total transaction of $253,000.00. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Lee Shapiro bought 80,000 shares of the company’s stock in a transaction on Friday, March 11th. The stock was purchased at an average cost of $3.10 per share, for a total transaction of $248,000.00. The disclosure for this purchase can be found here.
Clover Health Investments Company Profile (Get Rating)
Clover Health Investments, Corp. operates as a medicare advantage insurer in the United States. The company through its Clover Assistant, a software platform that provides preferred provider organization and health maintenance organization health plans for medicare-eligible consumers. It also focuses on non-insurance businesses.
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