WILLMINGTON, Del., Jan. 07, 2025 (GLOBE NEWSWIRE) -- Counterpart Health, Inc. ("Counterpart"), an AI-powered physician enablement platform, today announced it has successfully deployed its Counterpart Assistant technology within Duke Connected Care (DCC), a recognized leader in accountable care and part of the prestigious Duke University Health System. Counterpart is a subsidiary of Clover Health Investments, Corp. (NASDAQ:CLOV) ("Clover Health"). Based in Durham, North Carolina, DCC is a physician-led acco ...

In 2024, the U.S. economy experienced significant fluctuations. Throughout the year, investors keen on investing in MedTech stocks witnessed the widespread adoption of artificial intelligence (AI) and robotic-assisted surgeries despite uncertainty surrounding the sector. The MedTech sector continued to be buoyed down by significant healthcare labor shortages and supply challenges stemming from worldwide geopolitical issues. Continued inflationary pressures also hindered the sector. However, the sector is mo ...

Healthcare is becoming increasingly big business across the world, as ageing populations demand more and more resources by the year. Nowhere is this more accentuated that the U.S., where the healthcare and insurance landscape means that depending on which sideGordon is a freelance investment writer from Glasgow, Scotland. With a Masters Degree in Civil Engineering, he also works in Asset Management, and runs a financial education company called Oak Investing with a wide following across 40 countries. With a ...

JERSEY CITY, N.J., Dec. 17, 2024 (GLOBE NEWSWIRE) -- Remote-First Company -- Clover Health Investments, Corp. (Nasdaq: CLOV) (“Clover,” “Clover Health” or the “Company”), today announced that its Chief Executive Officer, Andrew Toy, will present at the 43rd Annual J.P. Morgan Healthcare Conference on Wednesday, January 15, 2025, at 4:30 p.m. Eastern Time. A live webcast and replay of the presentation and Q&A session will be accessible from Clover Health's investor relations website at https://investors.clov ...

Clover Health Investments (NASDAQ: CLOV ) is navigating a complex business landscape, showing both promising financial progress and persistent challenges in 2024. Known for its innovative approach to Medicare Advantage plans, the company has upside potential for risk-averse investors looking to investYavuz Akbay is quantitative analyst with over 5 years of experience in interpreting complex financial data, developing complex mathematical models and modeling and forecasting. Utilizes machine learning algorit ...

On November 6th, Clover Health Investments, Corp. (NASDAQ: CLOV ) reported its Q3 earnings , showcasing continued top-line growth and improved bottom-line performance. Despite this, the stock is down 32% since the release of the Q3 earnings report due to missing analysts' estimatesAs a former managing editor at a financial media publication focused on mid and small caps, I am using my experience to present investment opportunities in undervalued companies. My experience, combined with my academic background ...

A downtrend has been apparent in Clover Health Investments, Corp. (CLOV) lately with too much selling pressure. The stock has declined 26.3% over the past four weeks. However, given the fact that it is now in oversold territory and Wall Street analysts are majorly in agreement about the company's ability to report better earnings than they predicted earlier, the stock could be due for a turnaround.How to Determine if a Stock is OversoldWe use Relative Strength Index (RSI), one of the most commonly used tech ...

A downtrend has been apparent in Clover Health Investments, Corp. (CLOV) lately with too much selling pressure. The stock has declined 25.8% over the past four weeks. However, given the fact that it is now in oversold territory and Wall Street analysts are majorly in agreement about the company's ability to report better earnings than they predicted earlier, the stock could be due for a turnaround.Here is How to Spot Oversold StocksWe use Relative Strength Index (RSI), one of the most commonly used technica ...

Business Operations - As of September 30, 2024, Clover Health operates Medicare Advantage plans in five states and 200 counties, serving 81,110 members[150]. - The company launched Counterpart Health, a SaaS solution aimed at extending the benefits of its technology to Medicare Advantage payors and providers, with low startup costs and high-margin business opportunities[154]. - The company exited the ACO REACH program effective January 1, 2024, after determining it was in its best interest to do so[155]. Financial Performance - Premiums earned, gross for 2024 totaled $1,014,502,000, with a PMPM of $1,409, compared to $933,040,000 and a PMPM of $1,252 in 2023[159]. - Adjusted EBITDA for 2024 is $19,263,000, a significant increase from $2,723,000 in 2023, reflecting improved operational efficiency[159]. - Total revenues increased by $24.9 million, or 8.2%, to $330.986 million for the three months ended September 30, 2024, compared to the same period in 2023[180]. - Net loss from continuing operations improved by $24.8 million, or 73.9%, to $(8.8) million for the three months ended September 30, 2024, compared to $(33.6) million for the same period in 2023[179]. Claims and Expenses - Clover Health's net medical claims incurred for 2024 were $251,643,000, with a PMPM of $1,040, compared to $236,533,000 and a PMPM of $966 in 2023[159]. - The medical care ratio, gross for 2024 is reported at 78.1%, slightly improved from 78.6% in 2023, indicating effective cost management[159]. - Clover Health's benefits expense ratio, gross for 2024 is 82.8%, consistent with the previous year's ratio of 83.4%, indicating stable expense management[159]. - Net medical claims incurred increased by $14.0 million, or 6%, to $249.8 million for the three months ended September 30, 2024, compared to the same period in 2023[183]. Income and Cost Management - Other income rose by $3.6 million, or 75%, to $8.4 million for the three months ended September 30, 2024, attributed to a higher interest rate environment[182]. - Salaries and benefits decreased by $5.6 million, or 9%, to $55.0 million for the three months ended September 30, 2024, primarily due to lower share-based compensation costs[184]. - General and administrative expenses decreased by $5.8 million, or 14%, to $35.2 million for the three months ended September 30, 2024, driven by a reduction in professional fees[185]. Cash Flow and Investments - Net cash provided by operating activities from continuing operations was $129.5 million for the nine months ended September 30, 2024, reflecting a net loss of $20.9 million[207]. - Net cash provided by investing activities was $2.0 million for the nine months ended September 30, 2024, primarily due to $156.6 million from the sale and maturity of investment securities[209]. - Total restricted and unrestricted cash, cash equivalents, and investments for all entities were $531.4 million at September 30, 2024, compared to $417.3 million at December 31, 2023[199]. Risk Management - The company is primarily exposed to interest rate risk associated with investments in fixed maturity instruments[222]. - Credit risk is managed by investing in high-quality securities and diversifying holdings[223]. - The company does not have material exposure to commodity risk[222]. Accounting and Financial Measures - Clover Health utilizes non-GAAP measures such as Adjusted EBITDA and Adjusted SG&A to assess performance and future prospects[220]. - Non-GAAP financial measures should be read in conjunction with GAAP financial statements[220]. - Recent accounting pronouncements and their potential impact are discussed in the condensed consolidated financial statements[218].

Clover Health Investments, Corp. (CLOV) delivered a loss per share of 2 cents in the third quarter of 2024, narrower than the year-ago period’s loss of 7 cents per share and the Zacks Consensus Estimate of a loss of 3 cents per share.CLOV’s Revenues in DetailClover Health registered revenues of $330.9 million in the third quarter, up 8.2% year over year. However, the figure missed the Zacks Consensus Estimate by 4.8%.The top line was aided by robust Insurance revenues and Other income.Shares of this company ...