Coventry Health Care Tops Earnings Estimate

Bethesda-based Coventry Health Care, Inc. (NYSE: CVH), a Fortune 500 company healthcare provider, reported earnings in the third quarter ended September 30, 2011 that exceeded analyst estimates.

Coventry accrued $3.0 billion in revenues for the quarter versus $2.8 billion in the third quarter 2010, just shy of the average revenue estimate of $3.03 billion. Net earnings reported came to $122.7 million or earnings per diluted share of $0.84, better than the average analyst estimate of $0.81 cents but lower than the $189.9 million or earnings per diluted share of $1.29 reported in the same period last year.

On October 26, 2011, Coventry announced an agreement to buy the Kansas City Medicaid health plan business of Children's Mercy Hospital.

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