NEW YORK (TheStreet) -- Health insurers continued to rally Friday on indications that even if the U.S. Supreme Court struck down the Affordable Care Act (ACA), they wouldn't face long-term hitches.
But investors shouldn't be too quick to jump to conclusions from inferences to the justices' questioning from this week.
"People ended up now thinking that the whole thing would get struck down, ultimately because [the Supreme Court] says we're not going to go through 2,700 pages" of legislation, said a health care analyst, who spoke on background.
Health insurance stocks closed higher Friday along with the broader U.S. indices. UnitedHealth Group (UNH) was at $58.98, up 87 cents or 1.5%; Aetna (AET) climbed to $50.17, up 61 cents, or 1.2%; Cigna (CI) jumped to $49.26, up 29 cents, or 0.59%; Coventry (CVH) was at $35.57, up 97 cents, or 2.8%; WellPoint (WLP) rose to $73.81, up $2.19, or about 3.1%; and Humana (HUM) closed at $92.49, up 95 cents, or about 1%.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV