Stock of LV insurer soars

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Wednesday, May 1, 2002 | 11:17 a.m.

Sierra Health Services Inc. shares rose 22 percent Tuesday after its first-quarter profit more than doubled and the managed health-care insurer boosted its forecast for the year.

The shares of Sierra Health rose $3.50 to $19.50 in trading of 1.23 million shares, more than nine times the three-month daily average. The price retreated 41 cents today to $19.09.

The stock, which reached a 52-week high Tuesday, has more than doubled this year.

Full-year earnings are expected to be $1.02 to $1.05 a share, the Las Vegas-based company said. That's higher than the 83-cent average estimate in a First Call survey.