Why Is Humana Stock Trading Higher Today?

Humana Inc HUM reported Q2 adjusted EPS of $8.94 from $8.76 a year ago, beating the consensus of $8.88.

The insurer reported adjusted revenue of $25.73 billion in the second quarter of 2023, up from $22.54 billion a year ago, below the consensus of $25.82 billion.

Humana's individual Medicare Advantage enrollment was 5.26 million at the end of the second quarter, up 15.7% from 4.55 million in the year-ago period. 

In the second quarter, Humana's profits rose 37.8% to $959 million from $696 million in the year-ago period. 

Also Read: Biden Administration Releases Revised Guidance For Medicare Drug Price Negotiation Amid Industry Lawsuits.

Humana reported a benefits expense ratio of 86.3% for the quarter, up from 85.8% a year earlier. 

Guidance: Humana reaffirms adjusted EPS guidance of at least $28.25 versus the consensus Of $28.29.

Humana also raised its 2023 individual Medicare Advantage membership growth by 50,000 to about 825,000 from 775,000 expected earlier.

Affirms FY23 Insurance segment benefit expense ratio guidance range of 86.3%-87.3%.

Price Action: HUM shares are up 5.84% at $484.88 during the premarket session on the last check Wednesday.

Now Read: Caterpillar Will Give You $500 Per Month As The Stock Hits All-Time Highs: Here's How