By Jeffrey T. Lewis
SÃO PAULO — Hapvida SA’s shares fell 14.8% in late-morning buying and selling after the hospital operator and medical health insurance supplier reported disappointing first-quarter outcomes.
The shares fell to six.68 reais, the equal of $1.34, and are down about 24% from the beginning of the yr by means of Monday’s shut. Brazil’s benchmark Ibovespa shares index was up 0.4% on the identical time.
The firm, which was fashioned from a merger in February of this yr, stated Monday after the shut of buying and selling that it misplaced 182 million reais within the first quarter after prices jumped.
Hapvida’s cash-medical loss ratio was nonetheless pressured by Covid-19 prices and different components, stated Rafael Barros, an analyst at XP Investimentos, in a analysis be aware. The firm’s debt degree can also be pressuring its backside line, Mr. Barros stated.
Write to Jeffrey T. Lewis at [email protected]
Brazil’s Hapvida Shares Drop 14.8% After Disappointing 1Q Results & More Latest News Update
Brazil’s Hapvida Shares Drop 14.8% After Disappointing 1Q Results & More Live News
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