Clover Health Investments, Corp. (CLOV) Stock

Clover Health Investments, Corp. (CLOV) is a Healthcare stock trading at $4.32 (as of 2026-07-24), with a market capitalization of $2.30B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Clover Health Investments, Corp. operates as a Medicare Advantage insurer in the United States, serving Medicare-eligible consumers through its health plan offerings. The company also provides software capabilities described as the Clover Assistant, including plan-related support for preferred provider organization and health maintenance organization models, and it has non-insurance business activities.

Understand Clover Health Investments, Corp.: how it makes money

Clover Health Investments runs Medicare Advantage health plans in the United States, and it uses its Clover Assistant software platform to support plan delivery (including preferred provider organization and health maintenance organization plans), plus it has additional non-insurance businesses.

Clover's profit engine is tied to its ability to earn Medicare Advantage revenue while maintaining strong Medicare Advantage membership and improving quality signals (star ratings and Healthcare Effectiveness Data and Information Set measures), with Clover Assistant positioned as the software layer that supports how care plans are delivered.

Revenue by segment (latest quarter)
Medicare Adv	$0.7B

Business quality (Mixed): The operational KPI set clearly links Medicare Advantage outcomes (membership, retention, and star measures) to how Clover operates, but the provided segment list does not fully reconcile to total revenue because only one segment candidate is used to match the 0.7B revenue level.

Bull case

Clear Medicare Advantage operating focus: The company reports a dedicated Medicare Advantage insurance revenue category and tracks Medicare Advantage membership at period end.
Quality metrics are explicitly monitored: It tracks star rating and Healthcare Effectiveness Data and Information Set measures, which are quality signals investors often connect to Medicare Advantage performance.
Clover Assistant has measurable usage and engagement: The company provides engagement and usage indicators for Clover Assistant, including engagement rate and sessions per month.

Bear case

Concentration risk in Medicare Advantage insurance revenue: Based on the segment candidates provided, Medicare Advantage insurance revenue appears to be the dominant revenue component.
Sensitivity to membership and retention outcomes: Clover tracks both Medicare Advantage membership at period end and annual enrollment period retention rate, so unfavorable changes in these measures could affect results.
Quality signal performance may be a key variable: The company tracks star rating and Healthcare Effectiveness Data and Information Set measures, so performance tied to these metrics can be a swing factor for the business.

Valuation — source: SEC EDGAR (first-party)
Price	$4.32
Market Cap	$2.30B
Price / Book	6.78
Price / Sales	1.05
FCF Yield	3.4%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$1.92B
Net Margin	-4.4%
Revenue Growth (YoY)	40.3%
FCF Growth (YoY)	-307.2%

Financial Health — source: SEC EDGAR
Altman Z-Score	3.05 (safe)

Valuation vs Sector & Industry
Sector P/E (Healthcare)	21.2
Industry P/E (Insurance)	12.7

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock, Inc. ($56.04M)
Institutional Holders Tracked	10

Company
Sector	Healthcare
Industry	Insurance
CEO	Andrew Toy
Employees	570
Country	US
IPO Date	2020-06-12

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Data as of 2026-07-24.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.