Overview
- Shares fell about 14% on Tuesday, ranking among the S&P 500’s worst performers for the day.
- ACA marketplace membership is expected to be roughly 3.5 million by the end of Q1, down from 5.5 million in December, with February at 3.6 million.
- Management reaffirmed 2026 adjusted earnings guidance of more than $3 per share.
- Early readings point to higher specialty-pharmacy utilization concentrated in silver-tier exchange plans.
- Medicare Advantage margins remain below break-even for 2026, analysts cut targets including Mizuho to $41 Neutral, and a final CMS rate decision is due by April 6.