Given that I’ve been quick to point out every time WellPoint management takes heat from Wall Street (see posts here and here and here), it’s only fair that I also note when things are going well. Shares in WellPoint are up 30% this year.
Granted, the managed care sector overall has soared as investors realize that healthcare reform isn’t going to put the industry out of business. WellPoint’s decision to sell its PBM also helped boost shares (or as the suits say “build value”).
Even Lee Cooperman of Omega Advisors — an investor in WellPoint — told me in a phone interview he’s happy with the run-up. (He’s still not happy with the company’s capital deployment, but that’s another story).
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