The Indianapolis-based WellPoint, Inc. (NYSE:WLP) will restructure into 4 business divisions in the primary major action undertaken by temporary Chief Executive Officer John Cannon.
Interim Chief Executive Officer of WellPoint, the second-major United States health insurer, John Cannon reported in a memo sent to employees on Friday that changes will assist smooth the integration of AMERIGROUP Corporation (NYSE:AGP), the insurer WellPoint decided to acquire in July for $4.9 billion.
Bloomberg received memo confirming that the restructuring will put Amerigroup Chief Executive Officer James Carlson head of the combined corporation’s Medicaid business, while Chief Financial Officer Wayne DeVeydt continues in his post.
Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. UnitedHealth Group Inc. (NYSE:UNH) fell -1.02% to settle at $57.07, CIGNA Corporation (NYSE:CI) moved down -0.86% to end at $49.71 while Humana Inc. (NYSE:HUM) dropped -0.68% to finish at $74.82 on Friday.
WellPoint, Inc. (NYSE:WLP)’s last session volume of 3.07 million shares was lower than its average volume of 3.58 million shares. The stock after opening at $62.87 hit high price of $63.43 and then closed at $61.83 by scoring -1.53%.
WLP generated revenue of $61.54 billion in the previous twelve months and earned $2.52 billion. The Company showed a positive 4.09% in the net profit margin and as well as in its operating margin which remained 6.31%. Company’s annual sales growth for the past five years was 1.25%.
The WLP’s past twelve months’ price to sales ratio was 0.33 and price to cash ratio remained 10.29. As far as the returns are concerned, the WLP return on equity was recorded as 10.53% while its return on assets stayed at 4.78%.
The stock showed weekly upbeat performance of 1.00% which was maintained for the month at 6.26%. Likewise the positive performance for the quarter was recorded as 0.26% and for the year was -4.75% while the YTD performance remained at -5.39%.
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