Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at Progyny (NASDAQ: PGNY) and the best and worst performers in the health insurance providers industry.

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 12 health insurance providers stocks we track reported a slower Q4. As a group, revenues beat analysts’ consensus estimates by 0.8% while next quarter’s revenue guidance was in line.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 9.1% since the latest earnings results.

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 $318.4 million, up 6.7% year on year. This print exceeded analysts’ expectations by 2.9%. Despite the top-line beat, it was still a slower quarter for the company with a significant miss of analysts’ full-year EPS guidance estimates and revenue guidance for next quarter missing analysts’ expectations significantly.

“We're pleased to report that 2025 ended strongly, concluding a record year for Progyny, one in which we achieved our highest ever levels of full year revenue, Adjusted EBITDA, and operating cash flow,” said Pete Anevski, Chief Executive Officer of Progyny.

Unsurprisingly, the stock is down 21% since reporting and currently trades at $17.57.

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

Best Q4: Clover Health (NASDAQ: CLOV)

Founded in 2014 to improve healthcare for America's seniors through technology, Clover Health (NASDAQ: CLOV) provides Medicare Advantage plans for seniors with a focus on affordable care and uses its proprietary Clover Assistant software to help physicians manage patient care.

Clover Health reported revenues of $487.7 million, up 44.7% year on year, outperforming analysts’ expectations by 4.4%. The business had a strong quarter with an impressive beat of analysts’ revenue estimates and EPS in line with analysts’ estimates.

Clover Health delivered the biggest analyst estimates beat and fastest revenue growth among its peers. The company added 4,577 customers to reach a total of 113,803. Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 8.6% since reporting. It currently trades at $1.97.

Is now the time to buy Clover Health? 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 $11.38 billion, up 8.3% year on year, exceeding analysts’ expectations by 3.7%. Still, it was a softer quarter as it posted full-year revenue guidance missing analysts’ expectations significantly and a significant miss of analysts’ full-year EPS guidance estimates.

As expected, the stock is down 16.8% since the results and currently trades at $147.13.

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

Centene (NYSE: CNC)

Serving nearly 1 in 15 Americans through its government healthcare programs, Centene (NYSE: CNC) is a healthcare company that manages government-sponsored health insurance programs like Medicaid and Medicare for low-income and complex-needs populations.

Centene reported revenues of $49.73 billion, up 21.9% year on year. This result surpassed analysts’ expectations by 3%. More broadly, it was a mixed quarter as it also produced a solid beat of analysts’ revenue estimates but full-year revenue guidance missing analysts’ expectations.

The company lost 334,600 customers and ended up with a total of 27.63 million. The stock is down 12.7% since reporting and currently trades at $34.86.

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

Elevance Health (NYSE: ELV)

Formerly known as Anthem until its 2022 rebranding, Elevance Health (NYSE: ELV) is one of America's largest health insurers, serving approximately 47 million medical members through its network-based managed care plans.

Elevance Health reported revenues of $49.31 billion, up 9.6% year on year. This number came in 1.2% below analysts' expectations. It was a softer quarter as it also logged a significant miss of analysts’ full-year EPS guidance estimates and a slight miss of analysts’ revenue estimates.

The company lost 137,000 customers and ended up with a total of 45.23 million. The stock is down 9.7% since reporting and currently trades at $291.68.

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

Want to invest in winners with rock-solid fundamentals? Check out our 9 Best Market-Beating Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.