Wednesday, October 22, 2008

Coventry Health Care Stock Down 48%--"Sort of" No Surprise

Readers of this blog will not be surprised to see Coventry Health Care's stock down 48% this afternoon after its earnings call this morning.

That is a 77% drop from their 52-week high.

Last July I commented on their earnings call where senior management used the precise financial term "sort of" 63 times to explain their then earnings and operations situation: Required Reading for Health Care Analysts and Coventry Health's "Sort of" Informative Conference Call

Well, three months later they're "sort of" in the crapper.

Joe Paduda, over at Managed Care Matters, has been following the Coventry problems more closely than I and has a number of recent posts on their problems.
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