Coventry Health Care: S&P Intraday Laggard

NEW YORK ( TheStreet) -- Coventry Health Care ( CVH) was the worst-performing stock in the S&P 500 on Friday morning.

The S&P 500 was rising 1.09 points, or 0.08%, to 1,401.07.

Shares of Coventry Health Care fell 10.28% to $29.32. The health care company reported Friday first-quarter earnings of $170.7 million, or $1.20 a share, up from year-earlier earnings of $110.2 million, or 73 cents a share.

The latest quarter included a gain of 58 cents a share from Medicare Advantage Risk Adjustment Data Validation audit reserves that were released. Without this gain, earnings would have been 62 cents a share, in line with analysts' estimates.

Coventry Health trades at an estimated price-to-earnings ratio for next year of 8.16 times; the average for health care providers is 17.4.

Twelve of the 20 analysts who cover Coventry Health Care rated it buy. Five analysts gave the stock a hold rating and three rated it sell.

TheStreet Ratings gives Coventry Health Care a B grade with a buy rating and $38.69 price target. The stock has fallen 5.83% year to date.

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-- Written by Alexandra Zendrian

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