Clover Health Investments, Corp.
- Open
- 4.16
- Day high
- 4.35
- Day low
- 4.16
- Prev close
- 4.15
- Volume
- 1.2M
- Mkt cap
- $2.3B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 6.1
- P/S
- 0.9
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$3.1M over the last 3 months (0 open-market buys, 17 sales)
- 🏛Institutions accumulating (13F)
Clover Health Investments, Corp. (CLOV) is a Healthcare company listed on NASDAQ. The stock is up 54% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 17 sales (SEC Form 4).
Clover Health Investments, Corp. (CLOV) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
CLOV earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 5, 2026 | $0.04 | $0.05 | +29.4% | $743M | +2.0% |
| May 6, 2026 | $0.07 | $0.07 | +0.0% | $749M | +4.8% |
| Nov 4, 2025 | $0.02 | $-0.05 | -350.0% | $497M | +6.3% |
| Mar 11, 2025 | $-0.07 | $-0.04 | +42.9% | $337M | -3.0% |
| Mar 12, 2024 | $-0.18 | $-0.12 | +33.3% | $510M | +6.2% |
| Feb 28, 2023 | $-0.34 | $-0.23 | +32.4% | $899M | +14.4% |
| Feb 28, 2022 | $-0.26 | $-0.44 | -69.2% | $432M | +5.9% |
| Aug 11, 2021 | $-0.17 | $-0.45 | -164.7% | $412M | +0.0% |
| May 17, 2021 | $-0.12 | $-0.13 | -8.3% | $200M | — |
| Mar 1, 2021 | $-0.84 | $0.01 | +101.0% | $507M | — |
| Aug 13, 2020 | — | $0.01 | — | $172M | — |
| Jun 4, 2020 | — | $-0.07 | — | $166M | — |
CLOV insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 17, 2026 | THORNTON JOSEPH CLAYofficer: Interim CFO | Sell | 17,775 | $4.39 |
| Aug 13, 2026 | THORNTON JOSEPH CLAYofficer: Interim CFO | Grant | 54,347 | — |
| Aug 13, 2026 | Soares Karenofficer: Chief Legal Officer | Grant | 108,695 | — |
| Aug 10, 2026 | Toy Andrewdirector, officer: Chief Executive Officer | Sell | 87,798 | $4.65 |
| Jul 20, 2026 | Soares Karenofficer: Chief Legal Officer | Sell | 51,700 | $4.51 |
| Jul 17, 2026 | Reynoso Jamie L.officer: CEO, Medicare Advantage | Sell | 4,839 | $4.53 |
| Jul 16, 2026 | Toy Andrewdirector, officer: Chief Executive Officer | Sell | 62,711 | $4.67 |
| Jul 16, 2026 | THORNTON JOSEPH CLAYofficer: Interim CFO | Sell | 4,630 | $4.67 |
| Jul 16, 2026 | Soares Karenofficer: Chief Legal Officer | Sell | 10,519 | $4.67 |
| Jul 16, 2026 | Reynoso Jamie L.officer: CEO, Medicare Advantage | Sell | 13,119 | $4.67 |
| Jul 16, 2026 | Wai Conradofficer: CEO, Counterpart Health | Sell | 24,215 | $4.67 |
| Jul 9, 2026 | Reynoso Jamie L.officer: CEO, Medicare Advantage | Sell | 2,384 | $4.68 |
| Jul 6, 2026 | Reynoso Jamie L.officer: CEO, Medicare Advantage | Sell | 6,229 | $5.26 |
| Jul 1, 2026 | Toy Andrewdirector, officer: Chief Executive Officer | Sell | 313,476 | $5.32 |
| Jun 18, 2026 | Reynoso Jamie L.officer: CEO, Medicare Advantage | Sell | 2,360 | $4.78 |
Source: CLOV SEC Form 4 filings, latest Aug 17, 2026. For informational purposes only — not investment advice.
See the full CLOV insider & 13F page →Clover Health Investments, Corp. company profile
Overview
Clover Health Investments, Corp. (NASDAQ:CLOV) is a Medicare Advantage insurer founded in 2014 and headquartered in Franklin, Tennessee. The company went public in June 2020 and operates as a technology-driven healthcare insurer focused on serving Medicare-eligible consumers. Clover Health differentiates itself through its proprietary software platform called Clover Assistant, which aims to improve healthcare outcomes and reduce costs through data-driven insights and care management. After experiencing significant losses in its early years as a public company, Clover achieved its first adjusted EBITDA profitability in 2024 and has shifted its strategy toward sustainable growth in core markets.
Business
Clover Health operates primarily in the Medicare Advantage insurance sector, which is a privatized version of Medicare where private insurers contract with the federal government to provide Medicare benefits to eligible seniors and disabled individuals. Medicare Advantage plans serve as an alternative to traditional Medicare, often providing additional benefits like prescription drug coverage, dental, vision, and wellness programs. The company's core offering is Medicare Advantage health plans, which include both Preferred Provider Organization (PPO) and Health Maintenance Organization (HMO) options for Medicare-eligible consumers. These plans allow members to receive healthcare services through a network of providers while the insurance company manages costs and coordinates care. Clover's key differentiator is Clover Assistant, a proprietary software platform that provides healthcare providers with data-driven insights to identify and manage chronic diseases more effectively. This technology platform analyzes patient data to help physicians make better clinical decisions, potentially leading to improved health outcomes and reduced medical costs. The company also operates Clover Home Care, which provides in-home primary care services for high-risk patients with complex medical conditions. Additionally, Clover has launched Counterpart Health, a software-as-a-service platform that offers Clover's technology and care management capabilities to third-party healthcare payers. Based on recent financial reports, the insurance segment generates approximately 95% of total revenue, with the remaining 5% coming from non-insurance activities and emerging business lines like Counterpart Health.
Revenue model
Clover Health generates revenue primarily through insurance premiums paid by the Centers for Medicare & Medicaid Services (CMS) for each Medicare Advantage member enrolled in their plans. The federal government pays Clover a monthly capitation fee per member, which varies based on factors like the member's age, health status, geographic location, and the plan's star rating from CMS. The company's profitability depends on maintaining medical costs below the premium revenue received. This is measured by the Medical Cost Ratio (MCR) or Benefit Expense Ratio (BER), which represents medical expenses as a percentage of premium revenue. Clover has improved its MCR from over 90% in earlier years to approximately 75-80% more recently, indicating better cost management. Several factors can impact Clover's margins positively or negatively. Positive factors include: the effectiveness of Clover Assistant in reducing unnecessary medical interventions and hospitalizations; successful management of chronic diseases through home care programs; higher CMS star ratings which result in bonus payments; favorable CMS rate updates; and operational efficiencies as the company scales. Negative factors include: increased medical utilization as members age; rising healthcare costs and inflation; changes in CMS reimbursement rates; competitive pressure in Medicare Advantage markets; and the need for continued technology investments. The company also generates smaller revenue streams from Counterpart Health's SaaS offerings to third-party payers, though this remains an emerging business with minimal current financial contribution.
Competitive moat
Clover Health's competitive moat is moderately strong but still developing. The company's primary moat stems from its proprietary Clover Assistant technology platform, which provides data-driven clinical insights that competitors cannot easily replicate. This technology advantage has demonstrated measurable improvements in medical cost ratios, suggesting genuine value creation rather than just marketing differentiation. The company benefits from regulatory barriers inherent in the Medicare Advantage industry, including CMS licensing requirements, star rating systems, and annual bidding processes that create switching costs and limit new entrants. Clover's achievement of 4-star ratings for most of its plans provides additional competitive advantages through bonus payments and favorable positioning in Medicare's Plan Finder tool. However, Clover faces significant competitive threats from much larger, well-established players like UnitedHealth, Humana, and Anthem, which have greater scale, broader geographic presence, and deeper pockets for marketing and provider network development. These incumbents are also investing heavily in their own technology platforms and data analytics capabilities, potentially eroding Clover's technological advantage over time. The company's focus on wide PPO networks rather than narrow HMO networks provides member appeal but reduces its ability to control costs through provider selection and negotiation leverage. Additionally, while Clover Assistant shows promise, the healthcare technology space is rapidly evolving with numerous well-funded competitors developing similar AI-driven clinical tools. Clover's geographic concentration in a few core markets like New Jersey provides operational focus but also creates vulnerability to local competitive dynamics and regulatory changes. The company's relatively small scale compared to industry giants limits its negotiating power with providers and its ability to spread fixed costs across a larger member base.
Risks & safety
Clover Health presents a moderate margin of safety with improving but still fragile financial metrics. **Cash and Solvency:** - Cash position of $155 million as of Q1 2025, down from $195 million in Q4 2024 - Current ratio of 1.54, indicating adequate short-term liquidity - Zero debt-to-equity ratio, providing financial flexibility - Negative free cash flow of -$16 million in Q1 2025, though significantly improved from -$86 million in Q4 2024 **Valuation Metrics:** - Price-to-book ratio of 5.31, indicating premium valuation relative to book value - Enterprise value to EBITDA of -504x due to minimal positive EBITDA - Graham net-net ratio of 0.032, suggesting limited asset protection **Other Considerations:** - Recently achieved adjusted EBITDA profitability but still reporting GAAP losses - Revenue growth of 30%+ provides positive momentum - Dependency on CMS reimbursement rates creates regulatory risk - Small scale relative to industry competitors limits competitive resilience
Recent development
Over the past few years, Clover Health has undergone a significant strategic transformation focused on achieving profitability and sustainable growth. The company shifted from aggressive expansion to operational efficiency and margin improvement, successfully achieving its first adjusted EBITDA profitability in 2024 after years of substantial losses. A key development has been the continued enhancement of Clover Assistant, the company's proprietary AI-powered clinical platform. Recent improvements include better chronic disease identification capabilities, streamlined clinician workflows, and integration of large language models to provide more sophisticated clinical insights. The platform now demonstrates over 1,000 basis points of medical cost ratio improvement for members whose physicians actively use the technology. Clover has expanded its home care services significantly, now serving approximately 23% of its member population through in-home primary care for high-risk patients. This program focuses on members with complex medical conditions and has shown success in reducing hospitalizations and improving care coordination. The company launched Counterpart Health as a new software-as-a-service business line, offering Clover's technology and care management capabilities to third-party healthcare payers. While still in early stages, this represents a potential new revenue stream and validation of Clover's technology platform beyond its own insurance operations. Operationally, Clover has focused on core market optimization rather than geographic expansion, concentrating efforts in markets like New Jersey where it has achieved strong market penetration. The company has also improved its CMS star ratings, with over 95% of members now in 4-star rated plans, which provides bonus payments and competitive advantages in member acquisition.
CLOV company profile · for informational purposes only — not investment advice.
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