NEW YORK (AP) -- A Jefferies analyst downgraded WellPoint Inc.'s stock, a day after the health insurer posted fourth-quarter results that missed Wall Street expectations.
Analyst David Windley downgraded the company's stock Thursday to "Hold" from "Buy," citing the company's "disappointing quarter." He also lowered his price target on the stock to $72 from $87.
WellPoint said Wednesday that its fourth-quarter net income fell 39 percent as medical claims increased. WellPoint earned $335.3 million, or 96 cents per share, in the three months that ended Dec. 31, down from $548.8 million, or $1.40 per share, in the final quarter of 2010.
Citi analyst Carl McDonald had a different view of the earnings. He said that even though the company missed analyst expectations, its 2011 full-year earnings met the company's own expectations. McDonald kept his rating on WellPoint's stock at "Buy."
A WellPoint spokesperson did not immediately respond to a request for comment.
WellPoint shares rose 40 cents to $66.50 in premarket trading Thursday. After posting its earnings Wednesday, WellPoint shares fell $3.30, or 4.8 percent, to close at $66.10.
There are no comments yet