09:13 AM EDT, 10/02/2024 (MT Newswires) -- Health care stocks were flat to lower pre-bell Wednesday, with The Health Care Select Sector SPDR Fund ( XLV ) down 0.2% and the iShares Biotechnology ETF ( IBB ) inactive.

Humana (HUM) shares were down more than 20% after the company disclosed in a regulatory filing that the number of members enrolled for 2025 in its Medicare Advantage Plans rated four stars or higher fell to 25% from 94% in 2024.

ModivCare ( MODV ) stock was 20% higher after the company said it has collected all of the roughly $60 million in contract receivables that were previously reported as delayed.

CVS Health ( CVS ) is planning to eliminate roughly 2,900 jobs, representing less than 1% of its total workforce, as part of cost-cutting measures, a company spokesperson confirmed to MT Newswires. CVS Health ( CVS ) shares were up over 2% premarket.