I'm looking very much looking forward to 2023, when I will share our next quarter results with you all as CEO of Clover. FRANKLIN, Tenn., July 11, 2023 (GLOBE NEWSWIRE) Clover Health Investments, Corp. CLOV ("Clover," "Clover Health" or the "Company"), a physician enablement company committed to bringing access to great healthcare to everyone on Medicare, today announced that it will report second quarter 2023 financial results after market close on Tuesday, August 8, 2023. That puts its price-sales ratio at 10.8. This improvement was driven by favorability in underlying operational trends as our portfolio continues to mature. Please go ahead. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. We believe that these improvements are a reflection of our focus on building best-in-class insurance operations and expanded Clover Assistant coverage and capabilities in addition to the benefit from normalizing COVID-related medical expenses compared to last year. All rights reserved. The Motley Fool->. Our progress to date has been impressive and for various reasons, will only accelerate. Finally, I am pleased by our increased focus on operational excellence at Clover, which contributed to our maintaining 3.5 stars on our flagship PPO plan. Healthcare technology companies that are not driving impact in this way will be extremely challenged in 10 years. Clover Health is a technology artificial intelligence (AI) and data analytics company disrupting the field of healthcare insurance. Clover Health Investments (NASDAQ:CLOV) stock is the subject of much of talk today as traders on Reddit WallStreetBets show interest in it. So a couple of different things. Toy commented stating We expect to build upon our positive momentum from 2022 to deliver continued improvement in our financial performance across both our Insurance and Non-Insurance lines. The global pharmacy chain did not respond to multiple requests for comment. Got it. Physicians receive the Clover Assistant software, which leverages data like lab results, prescription lists and previous diagnoses to suggest possible interventions to Physicians. Insurance revenue grew by 14% over Q122 Insurance and Non-Insurance MCR improved to 86.6% and 96.1% , respectively Improved 2023 guidance includes Insurance MCR of 87% - 89% , Insurance revenue of $1.18billion - $1.23billion , and Adjusted EBITDA of ($125)million - ($175)million FRANKLIN. Yeah. Please disable your ad-blocker and refresh. Membership grew to 58,056 in 2020 an increase of 36.3%. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Our year-to-date insurance MCR through Q3 also demonstrates the meaningful improvement over a more extended period, with Q3 year-to-date MCR improving to 91.7% from 107.1% in the Q3 year-to-date period last year. Real-time CLOV stock price for Clover Health (NASDAQ: . I believe Hindenburg may have uncovered some questionable business practices of Clover Health. FRANKLIN, Tenn., May 04, 2023 (GLOBE NEWSWIRE) -- Clover Health Investments, Corp. (NASDAQ: CLOV) (Clover, Clover Health or the Company), a physician enablement company committed to improving health equity for seniors, today announced that its CFO, Scott J. FRANKLIN, Tenn., April 24, 2023 (GLOBE NEWSWIRE) -- Clover Health Investments, Corp. (NASDAQ: CLOV) (Clover, Clover Health or the Company), a physician enablement company committed to bringing access to great healthcare to everyone on Medicare, today announced that the Company has reached an, Net annualized savings from initiatives expected to be approximately $30 million beginning in 2024 FRANKLIN, Tenn., April 17, 2023 (GLOBE NEWSWIRE) -- Clover Health Investments, Corp. (NASDAQ: CLOV) (Clover or Clover Health or the company), today announced business transformation initiatives, FRANKLIN, Tenn., April 11, 2023 (GLOBE NEWSWIRE) -- Clover Health Investments, Corp. (NASDAQ: CLOV) (Clover, Clover Health or the Company), a physician enablement company committed to bringing access to great healthcare to everyone on Medicare, today announced that it will report first. Thanks. For comparison, consensus EBITDA forecasts from the platform point to a recovery towards break-even levels over 2023/24. Furthermore, while we are not providing explicit stand-alone guidance for the fourth quarter of 2022, we do expect Q4 revenue for each line of business to be similar to our results in this third quarter. CLOV stock has two large investors committed to seeing their investment through. I wanted to understand a little bit more about the decision to scale back on DCE. And then I guess just as a follow-up here, just coupled with that decision. I read an interesting interview recently with. Finpedia provides more in-depth analysis of the business here. Finally, I'll provide an overview of our updated guidance. Thanks, Andrew. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 2023, Nasdaq, Inc. All Rights Reserved. As I was thinking about what to talk about in my latest commentary there will be plenty to discuss once it reports. Its debts are currently negligible, but it'd take quite a lot of borrowing to extend its runway by even one year. Therapeutics coming up today are tied to development breakthroughs made 10 years ago. What does that mean for Clover? Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. So the number will differ from that, but we just wanted to give a general order of magnitude for how large the scale of the business would be. As I was thinking about what to talk about in my latest commentary there will be plenty to discuss once it reports Q3 2021 earnings on Nov. 8 after the close I began thinking about the companys second-largest shareholder, GreenOaks Capital Partners. Importantly, I also believe that this quarter's results further illustrate our positive momentum towards achieving profitability. 5 Artificial Intelligence Stocks to Buy Before They Skyrocket, APRN Stock: Why One Pro Thinks Blue Apron Is the Hottest Delta Variant Play, PINS Stock: Why Pinterest Shares Are Plummeting Today, AHPI Stock: Why One Pro Thinks Allied Healthcare Could Squeeze to $10, 7 Safe High-Yield Dividend Stocks to Buy in July, Louis Navellier and the InvestorPlace Research Staff, MULN Stock: Mullen Preps 350 EVs for Final Assembly, CLOV Stock: What Reddit Investors Are Saying About Clover Health Today as WSB Chatter Increases. With only the rarest exceptions,InvestorPlacedoes not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That is not sustainable. Perceptive Advisors are the most recent investors. CLOV stock still is not a slam-dunk investment. Our strategy is underpinned by our proprietary software platform, Clover Assistant, which is designed to aggregate patient data from across the health ecosystem to support clinical decision-making and improve health outcomes. We think that's closer to what CMS envisions anyway, and it's unusual that will be ACO reach up about, as to having multiple sort of peers that they can participate in the fall this data from Clover Assistant in serving us, which here they should be in, we think can provide a very strong advantage in terms of selecting the right program for a doctor. As Vivek and Andrew mentioned, our Q3 results were highlighted by significant improvement in insurance MCR, which improved to 86.3% this quarter from 102.5% in Q3 of last year. My Clover. All rights reserved. FRANKLIN, Tenn., March 07, 2023 (GLOBE NEWSWIRE) -- Clover Health Investments, Corp. (NASDAQ: CLOV) (Clover, Clover Health or the Company), a physician enablement company committed to improving health equity for seniors, today announced that its CFO, Scott J. Q4 2022 Insurance MCR of 92.4% and FY 2022 Insurance MCR of 91.8% 2023 guidance Insurance MCR range of 89% - 91%, and Non-Insurance MCR range of 98% to 100% S trong liquidity expected to meet 2023 operating requirements FRANKLIN, Tenn., Feb. 28, 2023 (GLOBE NEWSWIRE) -- Clover Health Investments, FRANKLIN, Tenn., Feb. 22, 2023 (GLOBE NEWSWIRE) -- Clover Health Investments, Corp. (NASDAQ: CLOV) (Clover, Clover Health or the Company), a physician enablement company committed to improving health equity for seniors, today announced that its CEO, Andrew Toy, will present at Citi's 2023, Clover Health to Report Second Quarter 2023 Financial Results on August 8, 2023, Clover Health Announces Agreement to Settle Derivative Litigation, Resolving All Remaining Civil Litigation Relating to its de-SPAC Transaction, Clover Health Reports First Quarter 2023 Financial Results, Clover Health to Present at Bank of America 2023 Healthcare Conference on May 11, 2023, Clover Health Announces Agreement to Settle Securities Class Action Litigation, Clover Health Announces Business Transformation Initiatives to Accelerate Path to Profitability, Clover Health to Report First Quarter 2023 Financial Results on May 9, 2023, Clover Health to Present at Barclays 2023 Global Healthcare Conference on March 14, 2023, Clover Health Reports Fourth Quarter and Full Year 2022 Financial Results, Clover Health to Present at Citi's 2023 Healthcare Conference on March 1, 2023. For healthcare technology, a huge portion of our R&D spend is around the Clover Assistant and clinical intelligence for clinicians. Now that I put enough pressure on expectations on in, we will now take questions. What's more, the company seeks to develop a competitive advantage in low-cost servicing of its plans by making an artificial intelligence (AI) system called the Clover Assistant that it deploys to healthcare providers to make their claim filing and administration tasks easier. While the total guidance implies revenues will decline by about 30% over the year, it rebases investor expectations to a new baseline and allows incoming CEO Andrew Toy to focus on bringing the business into profitability. That limitation they have is a natural advantage to the team at Clover. Just as we're entering the AEP period for this year, and you guys pulled back on the number of counties, new counties you were going after. [Operator Instructions] We'll take our first question from Jason Cassorla from Citi. 1125 N. Charles St, Baltimore, MD 21201. This . If you have an ad-blocker enabled you may be blocked from proceeding. So all it would be underwritten and driven by Clover Assistant. I have a buy rating on CLOV stock. Public perception can turn on a dime. However, for the purposes of releasing a short-seller report, sensationalized minor issues and wrapped in a narrative targeting Mr. Palihapitiya and SPACs in general. A Clover Health spokesperson said that neither Clover nor SeekMedicare had been contacted by the DOJ or SEC specifically regarding SeekMedicare. Just wanted to start with the decision to scale back your non-insurance business with the ACO REACH program. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Clover Health went public last month through a special purpose acquisition company led by former Facebook executive and SPAC king Chamath Palihapitiya. We've always tuned how we look at growth, because we are able to grow without having to put a lot of capital into marketing. The company provides Medicare Advantage (MA) insurance plans and operates as a direct contracting entity with the U.S. government. This quarter represents another proof point that we are being prudent in spend decisions to complement our increasing focus on profitability. Type a symbol or company name. Yeah. FRANKLIN, Tenn., July 11, 2023 (GLOBE NEWSWIRE) -- Clover Health Investments, Corp. (NASDAQ: CLOV) (Clover, Clover Health or the Company), a physician enablement company committed to bringing access to great healthcare to everyone on Medicare, today announced that it will report second, FRANKLIN, Tenn., June 22, 2023 (GLOBE NEWSWIRE) -- Clover Health Investments, Corp. (NASDAQ: CLOV) (Clover, Clover Health or the Company), a physician enablement company committed to bringing access to great healthcare to everyone on Medicare, today announced that the Company has reached an. Turning now to our non-insurance segment. Finally, a minority of therapeutics coming to market today are truly curative. Greg Abbott (R). Jason, thanks for the question. But just if you could talk a little bit about the annual enrollment period would be helpful. But, unfortunately, he didnt discuss CLOV stock and when it might get out of its funk. Just can you discuss the decision a bit more, what the main drivers of that movement away from where you were with the drug contracting? Article printed from InvestorPlace Media, https://investorplace.com/2021/07/clov-stock-what-reddit-investors-are-saying-about-clover-health-today-as-wsb-chatter-increases/. Fintel is a leading provider of financial data and insights for intelligent, data-driven investors. 10 stocks we like better than Clover Health Investments, Corp. The companys penny stock status has made a target for short squeezes on more than one occasion. In an investor presentation, Clover said that it has already agreed to care for 200,000 seniors through the direct . So because we're choosing down growth a little bit this year and going into next season, we'll have more of those returning members, especially in South Jersey, in Georgia. The tagline We dont work for insurance companies. The company is currently focused on Medicare Advantage.. 2023 Clover Health. This sets us up to do well in 2023 when we layer in the incremental benefits of being paid on 3.5 stars maturation of our portfolio and other operational tailwinds. . We continue to see MCR performance that is over 1,000 basis points better for returning members, whos PCPs used Clover Assistant, as compared to members whose PCPs do not. Their latest funding was raised on Jan 8, 2021 from a Post-IPO Equity round. That's right -- they think these 10 stocks are even better buys. Credit Suisse remains cautious on the outlook for the company with an underperform recommendation and a $2.50 price target. Thanks. Ben Ward for The continued evolution of Clover Assistant is having a bigger and bigger impact on our results, and I believe that trend will only continue. Nasdaq And then I guess when you say you're declining by two-thirds, -- are those -- that one-third is going to be with are they already at your 100 MLR? As a reminder, we are being paid this year on three stars. Clover Assistant continues to be a key differentiator in our mission to improve every life, by supporting physicians in catching and treating conditions earlier. I think the way that we should look at it is that the pathway into value-based care is probably not straight from fee-for-service into upside downside, which is what if your reach is, but we provide -- we plan to provide a more gradual pathway where people can go enter. That seems pretty good for a relatively new company. So, in four months, GreenOaks lowered its share count by almost 50%. Is this happening to you frequently? The only other shareholder that comes close is founder and CEO Vivek Garipalli, who owns 83.6 million shares, or 36.8% of the company. As I said in my comments, back Whit, we actually had a lot of applications. While that ultimately will play in the companys favor, its made it difficult for investors to put a price tag on its valuation. Published on February 4, 2021 GET OUR LATEST REPORTS DELIVERED TO YOUR INBOX (NASDAQ:CLOV) Today, we reveal how Clover Health and its Wall Street celebrity promoter, Chamath Palihapitiya, misled investors about critical aspects of Clover's business in the run-up to the company's SPAC go-public transaction last month. These institutions own a total of 129.2 million shares representing about 27% ownership of the total float. Except as required by law, Clover Health undertakes no obligation to update any of these forward-looking statements after the date of this response or to conform these statements to actual results or revised expectations. Our Q3 non-insurance MCR was 104.2%, which is a result that we intend to improve. We believe these other programs could be a very good fit for a number of these physicians, and we will provide more updates here as they come about. Please visit our Press Room for more Company News. At this point, we're not ready to come out with guidance or more detail on that. This webcast is being recorded, and a replay will be available at the Investor Relations section of the Clover Health website. Forward-looking statements include statements regarding future events and Clover Healths future plans. Patients will want to buy coverage because it'll be cheaper and with a bigger network than other Medicare Advantage plans. The company manages care for Medicare beneficiaries in 11 states and started trading publicly on January 8, 2021. We can hold the medical risk, focus on collecting a lot of data, and build it into our tool, Clover Assistant, which is used by primary care physicians to give better, personalized data-driven care, Toy told Healthleaders finance editor Jack OBrien. 1. Clover is a huge believer in information liquidity for Medicare-eligibles, as well as the concept of truly neutral guidance and informed decision-making. Lets take a look at what Reddit has to say about CLOV stock today. For now, stay away. Stay up-to-date on Clover news, earnings, announcements, and stock info. Hindenburg became famous for exposing the potential fraud at Nikola (NASDAQ:NKLA), so its important to pay attention to what they have to say. Third quarter adjusted SG&A, which we previously referred to as adjusted operating expenses was $75.3 million, representing 9% of total revenue, a modest improvement since last quarter and down nearly 800 basis points year-over-year. With only the rarest exceptions,InvestorPlacedoes not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. Investors. That was down from 74.9 million shares, or 30.6% at the end of July and 96.3 million shares, or 35% at the end of June. And speaking as the largest Clover shareholder, I am very confident he will deliver for me and for all of our current and future shareholders in ways that will be spectacular and shocking in a good way over the next many years. Clover provides Medicare Advantage insurance plans and operates as a direct contracting entity with the U.S. government and utilizes its in-house developed AI software called Clover Assistant. I know you said you're expecting maybe a little bit lower growth rate versus past years because of the competitiveness, but still above market rates. I've been fortunate to be a part of building and investing in businesses at all stages of life cycle across outpatient, hospital provider, revenue cycle, medical device, data, technology and therapeutics, domestic international as well as many businesses outside of healthcare. Have you guys seen any improvements there over the last couple of quarters, or any update you can provide? I was going to add to Andrew's comments as well, Kevin, that we had made a comment earlier that we view the order of magnitude of the go forward, non-insurance line of businesses being around $1 billion and not revenue. This will be my last earnings call as CEO, so I thought it'd be good to lay out a few thoughts on the long-term. However, as a focused investor, GreenOaks doesnt seem like the kind of hedge fund that gets impatient. Hindenburg accused billionaire Palihapitiya of misleading investors when he took Clover Health public, calling him the "King of SPACS." On Thursday (Feb. 4), after Hindenburg published the . Can you just talk a little bit about how you're viewing the sales and marketing spend and effectiveness of that? But we are not seeing these things come to fruition. CLOV stock is poised to punish short-sellers. Only a few weeks ago, Chamath Palihapitiya was hailed as a visionary investor. Clover Health operates as a next-generation Medicare Advantage insurer, which leverages Clover's flagship software platform, the Clover Assistant, to provide America's seniors with highly affordable, "obvious" healthcare plans. In the coming years, as the population of people over age 65 expands to become a larger proportion of all people in the U.S., there will likely be a growing group of potential customers, which might translate into a steady trickle of new long-term subscribers.