NewsFeeder
11-28-2018, 05:45 AM
Humana sets $750 million ASR, raises Medicare Advantage membership estimate
Humana Inc. announced Wednesday a $750 million accelerated stock repurchase program, with final settlement expected to occur in the first quarter of 2019. Based on Tuesday's stock closing price of $309.63, the ACR represents about 2.42 million shares, or about 1.8% of the shares outstanding. Separately, the health care company raised its 2019 individual Medicare Advantage estimate to 350,000 to 400,000 members from 250,000 to 300,000 members, citing a higher than forecasted retention of existing members and sales. For prescription drug plans (PDP), it now expects a membership decline of 750,000 to 800,000 members for 2019, compared with its previous estimate of a decline of 500,000, given the competitive nature of the industry and pricing discipline. Humana also affirmed its 2018 adjusted earnings per share estimate of $14.40, which compares with the FactSet consensus of $14.43. The stock, which was still inactive in premarket trade, has lost 7.1% over the past three months, while the SPDR Health Care Select Sector ETF has slipped 0.9% and the S&P 500 has dropped 7.4%.
https://finance.yahoo.com/m/3a8c33f0-63e3-389f-bc96-d18b96ef84d9/humana-sets-%24750-million-asr%2C.html?.tsrc=rss
Humana Inc. announced Wednesday a $750 million accelerated stock repurchase program, with final settlement expected to occur in the first quarter of 2019. Based on Tuesday's stock closing price of $309.63, the ACR represents about 2.42 million shares, or about 1.8% of the shares outstanding. Separately, the health care company raised its 2019 individual Medicare Advantage estimate to 350,000 to 400,000 members from 250,000 to 300,000 members, citing a higher than forecasted retention of existing members and sales. For prescription drug plans (PDP), it now expects a membership decline of 750,000 to 800,000 members for 2019, compared with its previous estimate of a decline of 500,000, given the competitive nature of the industry and pricing discipline. Humana also affirmed its 2018 adjusted earnings per share estimate of $14.40, which compares with the FactSet consensus of $14.43. The stock, which was still inactive in premarket trade, has lost 7.1% over the past three months, while the SPDR Health Care Select Sector ETF has slipped 0.9% and the S&P 500 has dropped 7.4%.
https://finance.yahoo.com/m/3a8c33f0-63e3-389f-bc96-d18b96ef84d9/humana-sets-%24750-million-asr%2C.html?.tsrc=rss