Here's Why Cigna, Humana, and UnitedHealth Group Soared in October
Cigna (NYSE: CI), Humana (NYSE: HUM), and UnitedHealth Group (NYSE: UNH) gained 17.6%, 15.1%, and 16.3% respectively in October, according to data from S&P Global Market Intelligence. That's a huge move for some of America's largest health insurers, and the largest one led the way. The big push for all three healthcare stocks began with UnitedHealth Group's third-quarter earnings report in the middle of the month.
On Oct. 15, UnitedHealth Group beat Wall Street's estimates on the top and bottom lines -- and raised its earnings outlook for the rest of 2019. Instead of a range between $14.40 and $14.70 per share, adjusted earnings are expected to fall between $14.90 and $15 per share. The midpoint of that revised guidance range works out to a 16% year-over-year gain for UnitedHealth Group.
Image source: Getty Images.
Source Fool.com
