Molina Healthcare Inc. shares fell as much as 10% when markets opened Thursday after the US health insurer cut its outlook for the second time this month because of higher-than-expected medical costs.
Several health insurance companies haven’t done a good job of predicting medical costs recently, unsettling investors and driving down stock prices. Molina’s shares hit their lowest level since September 2020. Centene Corp. and UnitedHealth Group Inc. both withdrew their forecasts earlier this year.
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