Health care stocks reached a seven month high on Wednesday, helped by Aetna, which projected it will increase both revenue and profit next year ahead of major changes under U.S. health-care law.
The Morgan Stanley Healthcare Payors Index hit its highest level since April 25, up nearly 4 percent so far this month. In fact, out of the last 10 sessions, the index closed lower only once (Dec. 4, down 0.03 percent).
Within the index, shares of Coventry Health Care are trading at a new 52-week high. Back in August, Aetna announced plans to acquire CVH in a $5.7 billion cash-and-stock deal.