Here’s Why Healthcare Provider Stocks Sunk

Healthcare provider stocks dumped after a Government Accounting Office (GAO) report claims overpayments ranging from $1.2 billion to $3.1 billion for 2010. The report claims excess payments continued to grow for Medicare Advantage Plans.

Here’s how major stocks reacted to the news:

Humana Inc. (NYSE:HUM): HUM shares recently traded at $87.11, down $2.44, or 2.72%. They have traded in a 52-week range of $57.70 to $96.46. Volume today was 5,519,986 shares versus a 3-month average volume of 1,547,290 shares. The company’s trailing P/E is 11.08, while trailing earnings are $7.86 per share.

WellPoint Inc. (NYSE:WLP): WLP shares recently traded at $64.30, down $1.8, or 2.72%. They have traded in a 52-week range of $56.61 to $81.92. Volume today was 6,094,624 shares versus a 3-month average volume of 2,707,890 shares. The company’s trailing P/E is 8.45, while trailing earnings are $7.61 per share.

Unitedhealth Group, Inc. (NYSE:UNH): UNH shares recently traded at $50.35, down $1.22, or 2.37%. They have traded in a 52-week range of $40.44 to $54.18. Volume today was 13,545,031 shares versus a 3-month average volume of 6,967,270 shares. The company’s trailing P/E is 10.64, while trailing earnings are $4.73 per share.