As the Q4 earnings season wraps, let’s dig into this quarter’s best and worst performers in the health insurance providers industry, including Cencora (NYSE: COR) and its peers.

Upfront premiums collected by health insurers lead to reliable revenue, but profitability ultimately depends on accurate risk assessments and the ability to control medical costs. Health insurers are also highly sensitive to regulatory changes and economic conditions such as unemployment. Going forward, the industry faces tailwinds from an aging population, increasing demand for personalized healthcare services, and advancements in data analytics to improve cost management. However, continued regulatory scrutiny on pricing practices, the potential for government-led reforms such as expanded public healthcare options, and inflation in medical costs could add volatility to margins. One big debate among investors is the long-term impact of AI and whether it will help underwriting, fraud detection, and claims processing or whether it may wade into ethical grey areas like reinforcing biases and widening disparities in medical care.

The 11 health insurance providers stocks we track reported a satisfactory Q4. As a group, revenues beat analysts’ consensus estimates by 2.3% while next quarter’s revenue guidance was in line.

In light of this news, share prices of the companies have held steady as they are up 4% on average since the latest earnings results.

Cencora (NYSE: COR)

Formerly known as AmerisourceBergen until its 2023 rebranding, Cencora (NYSE: COR) is a global pharmaceutical distribution company that connects manufacturers with healthcare providers while offering logistics, data analytics, and consulting services.

Cencora reported revenues of $81.49 billion, up 12.8% year on year. This print exceeded analysts’ expectations by 5.2%. Overall, it was a very strong quarter for the company with a narrow beat of analysts’ full-year EPS guidance estimates and a decent beat of analysts’ EPS estimates.

“Cencora delivered an excellent start to fiscal 2025 as we focused on advancing our core capabilities and enhancing our value proposition through differentiated services and solutions,” said Robert P. Mauch, President and Chief Executive Officer of Cencora.

The stock is up 6.3% since reporting and currently trades at $267.48.

We think Cencora is a good business, but is it a buy today? Read our full report here, it’s free.

Best Q4: Progyny (NASDAQ: PGNY)

Pioneering a data-driven approach to family building that has achieved an industry-leading patient satisfaction score of +80, Progyny (NASDAQ: PGNY) provides comprehensive fertility and family building benefits solutions to employers, helping employees access quality fertility treatments and support services.

Progyny reported revenues of $298.4 million, up 10.6% year on year, outperforming analysts’ expectations by 7.6%. The business had a very strong quarter with an impressive beat of analysts’ sales volume estimates and EBITDA guidance for next quarter exceeding analysts’ expectations.

Progyny scored the biggest analyst estimates beat among its peers. Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 6.7% since reporting. It currently trades at $21.31.

Is now the time to buy Progyny? Access our full analysis of the earnings results here, it’s free.

Weakest Q4: Molina Healthcare (NYSE: MOH)

Founded in 1980 as a provider for underserved communities in Southern California, Molina Healthcare (NYSE: MOH) provides managed healthcare services primarily to low-income individuals through Medicaid, Medicare, and Marketplace insurance programs across 21 states.

Molina Healthcare reported revenues of $10.5 billion, up 16% year on year, exceeding analysts’ expectations by 1.9%. Still, it was a slower quarter as it posted a significant miss of analysts’ full-year EPS guidance estimates.

As expected, the stock is down 1.5% since the results and currently trades at $312.65.

Read our full analysis of Molina Healthcare’s results here.

CVS Health (NYSE: CVS)

With over 9,000 retail pharmacy locations serving as neighborhood health destinations across America, CVS Health (NYSE: CVS) operates retail pharmacies, provides pharmacy benefit management services, and offers health insurance through its Aetna subsidiary.

CVS Health reported revenues of $97.71 billion, up 4.2% year on year. This result surpassed analysts’ expectations by 0.8%. It was a strong quarter as it also put up an impressive beat of analysts’ same-store sales estimates and a solid beat of analysts’ EPS estimates.

The stock is up 22.4% since reporting and currently trades at $67.30.

Read our full, actionable report on CVS Health here, it’s free.

UnitedHealth (NYSE: UNH)

With over 100 million people served across its various businesses and a workforce of more than 400,000, UnitedHealth Group (NYSE: UNH) operates a health insurance business and Optum, a healthcare services division that provides everything from pharmacy benefits to primary care.

UnitedHealth reported revenues of $100.8 billion, up 6.8% year on year. This print came in 0.9% below analysts' expectations. All in all, it was a slower quarter for the company.

The company added 5,000 customers to reach a total of 53.73 million. The stock is down 5.5% since reporting and currently trades at $513.52.

Read our full, actionable report on UnitedHealth here, it’s free.

Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Quality Compounder Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.

Join Paid Stock Investor Research

Help us make StockStory more helpful to investors like yourself. Join our paid user research session and receive a $50 Amazon gift card for your opinions. Sign up here.