Health Net Inc. (NYSE:HNT) jumped to a first-quarter profit as lower costs assisted to compensate the health-insurance firm’s dropping health-plan enrollment and revenue.
The firm also estimated full-year earnings of $2.20 to $2.30 per share on revenue of almost $10.7 billion and $11.2 billion, while experts polled by Thomson Reuters predicted $2.07 per share on $11.32 billion.
Health Net announced a first-quarter profit of $50.1 million, or 62 cents per share, in contrast with a loss of $26.6 million, or 32 cents a share, a year ago. Revenue plunged 1.2% to $2.8 billion.
Experts surveyed by Thomson Reuters had most lately estimated per-share earnings of 41 cents on revenue of $2.79 billion.
At the current trading session, Health Net, Inc. (NYSE:HNT) shares are up +6.57% to $30.19 while the stocks are trading within the range of $29.08 – $33.30. In the past year, the stock has traded within a range of $16.65 – $36.90. The current session’s volume of 73,904 shares is lower from their average daily trading volume of 663,939 shares.
In the most actively trading companies on Monday premarket session, Gun maker Smith & Wesson Holding Corp. (NASDAQ:SWHC) shares rallied 3.2% in 2013 so far and have also declined more than 3% in April.
Smith & Wesson Holding Corporation(NASDAQ:SWHC) shares are up +1.38% to $8.82 while the stock is trading within the range of $8.71 – $8.88 in the current trading session. In the last 12 months the shares have traded between $6.07 and $11.25. The current session’s volume of 150,258 shares is lower from their average daily trading volume of 1.97 million shares.
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