INDIANAPOLIS (AP) — Shares of insurer HealthSpring Inc. stumbled Wednesday, a day after the health insurer said its second-quarter net income climbed 50 percent and it raised its annual earnings forecast.
THE SPARK: The Nashville, Tenn., company said Tuesday that its earnings grew to $83.9 million, or $1.23 per share, from $55.8 million, or 98 cents per share in last year's quarter. Revenue climbed 80 percent to $1.38 billion following HealthSpring's acquisition last November of Medicare Advantage plan operator Bravo Health.
Analysts expected a profit of 95 cents per share on $1.37 billion in revenue, according to estimates compiled by FactSet.
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