By Dave Sebastian
Shares of managed-care companies rose after UnitedHealth Group posted better-than-expected third-quarter results and raised its profit guidance.
Anthem shares rose 6.9%, and those of Cigna rose 6%. Humana posted a 5% gain, while Centene shares rose 4.3%.
UnitedHealth posted sales of $60.35 billion for the third quarter, up 6.71% from the comparable quarter a year ago and beating the $59.76 billion analysts polled by FactSet had expected.
The Minnesota-based company's earnings rose to $3.67 a share, up 13% from the comparable period last year. Analysts were expecting $3.55 a share.
The company said it expects profit for the full year to be between $14.15 a share and $14.25 a share, compared with its previous forecast of $13.95 a share to $14.15 a share.
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