Health Net Inc. (HNT, Financial) filed Quarterly Report for the period ended 2010-06-30.
Health Net Inc. has a market cap of $2.7 billion; its shares were traded at around $27.2 with a P/E ratio of 11.7 and P/S ratio of 0.2. Health Net Inc. had an annual average earning growth of 5.5% over the past 5 years.HNT is in the portfolios of Daniel Loeb of Third Point, LLC, Richard Snow of Snow Capital Management, L.P., David Einhorn of Greenlight Capital Inc, Steven Romick of FPA Crescent Fund, Edward Owens of Vanguard Health Care Fund, First Pacific Advisors of First Pacific Advisors, LLC, First Pacific Advisors of First Pacific Advisors, LLC, Lee Ainslie of Maverick Capital, Jean-Marie Eveillard of First Eagle Investment Management, LLC, Jim Simons of Renaissance Technologies LLC, Bruce Kovner of Caxton Associates, Steven Cohen of SAC Capital Advisors, George Soros of Soros Fund Management LLC, Jeremy Grantham of GMO LLC.
Our total revenues decreased 14.4 percent in the three months ended June 30, 2010 to $3.4 billion from $4.0 billion in the same period in 2009 and decreased 13.8 percent in the six months ended June 30, 2010 to $6.9 billion from $7.9 billion in the same period in 2009. Health plan services premium revenues decreased by approximately 20.5 percent to $2.5 billion and by approximately 20.0 percent to $5.0 billion in the three and six months ended June 30, 2010, respectively, compared with $3.2 billion and $6.3 billion in the three and six months ended June 30, 2009, respectively. Health plan services expenses decreased from $2.7 billion and $5.4 billion in the three and six months ended June 30, 2009, respectively, to $2.2 billion and $4.4 billion in the three and six months ended June 30, 2010, respectively. These decreases were primarily due to the Northeast Sale. Investment income decreased to $16.6 million and $36.5 million in the three and six months ended June 30, 2010, respectively, compared with $20.4 million and $44.8 million in the three and six months ended June 30, 2009, respectively. These decreases were primarily due to a decrease in realized gains recognized in 2010 compared to 2009.
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Health Net Inc. has a market cap of $2.7 billion; its shares were traded at around $27.2 with a P/E ratio of 11.7 and P/S ratio of 0.2. Health Net Inc. had an annual average earning growth of 5.5% over the past 5 years.HNT is in the portfolios of Daniel Loeb of Third Point, LLC, Richard Snow of Snow Capital Management, L.P., David Einhorn of Greenlight Capital Inc, Steven Romick of FPA Crescent Fund, Edward Owens of Vanguard Health Care Fund, First Pacific Advisors of First Pacific Advisors, LLC, First Pacific Advisors of First Pacific Advisors, LLC, Lee Ainslie of Maverick Capital, Jean-Marie Eveillard of First Eagle Investment Management, LLC, Jim Simons of Renaissance Technologies LLC, Bruce Kovner of Caxton Associates, Steven Cohen of SAC Capital Advisors, George Soros of Soros Fund Management LLC, Jeremy Grantham of GMO LLC.
Highlight of Business Operations:
For the three and six months ended June 30, 2010, we reported net income of $45.1 million or $0.45 per diluted share and $61.2 million or $0.61 per diluted share, respectively, as compared to net income of $40.1 million, or $0.38 per diluted share and $62.2 million or $0.60 per diluted share, respectively, for the same periods in 2009. Pretax margin was 2.3 percent and 1.5 percent for the three and six months ended June 30, 2010, respectively, compared to 1.6 percent and 1.1 percent for the same periods in 2009. Our consolidated results of operations for the three and six months ended June 30, 2010 were impacted by the Northeast Sale. See Note 1 to our consolidated financial statements for more information on the Northeast Sale. The Northeast Operations had a combined pretax loss of $9.4 million and $47.0 million for the three and six months ended June 30, 2010, respectively, compared to a pretax loss of $23.2 million and $26.4 million for the three and six months ended June 30, 2009, respectively, reflecting the ongoing run-out and wind-down of the Northeast Operations.Our total revenues decreased 14.4 percent in the three months ended June 30, 2010 to $3.4 billion from $4.0 billion in the same period in 2009 and decreased 13.8 percent in the six months ended June 30, 2010 to $6.9 billion from $7.9 billion in the same period in 2009. Health plan services premium revenues decreased by approximately 20.5 percent to $2.5 billion and by approximately 20.0 percent to $5.0 billion in the three and six months ended June 30, 2010, respectively, compared with $3.2 billion and $6.3 billion in the three and six months ended June 30, 2009, respectively. Health plan services expenses decreased from $2.7 billion and $5.4 billion in the three and six months ended June 30, 2009, respectively, to $2.2 billion and $4.4 billion in the three and six months ended June 30, 2010, respectively. These decreases were primarily due to the Northeast Sale. Investment income decreased to $16.6 million and $36.5 million in the three and six months ended June 30, 2010, respectively, compared with $20.4 million and $44.8 million in the three and six months ended June 30, 2009, respectively. These decreases were primarily due to a decrease in realized gains recognized in 2010 compared to 2009.
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