In an early study about trends that will shape the healthcare industry in 2022, the number one on the list was that COVID-19 would continue to be an issue.
Headquartered in Louisville, Kentucky, Humana Inc (HUM: US) is a healthcare product and insurance provider, operating since 1961. Listed on the New York Stock Exchange, the company has a current Market Capitalization of $61.6 billion. While its not on the list for any high-performing and popular healthcare stocks recently, HUM stock has been performing satisfactorily. Stock price is up by 11.92% in the past six months.
In contrast, Insiders at the company have been filing Form 144s with intentions to sell trades since the beginning of 2022.
On September 20, three insiders filed intentions to sell:
Insider filing Form 144s
- Timothy S. Huval - Chief Administration Officer - filed an intention to sell 7,437 shares. Valued at approximately $3.74 million, this form’s broker was Charles Schwab & Co Inc
- Senior Advisor, William H. Shrank filed his own form via Charles Schwab as well. His filing was for 13,508 shares, worth almost $6.79 million
- Joseph C. Ventura, currently serving as Humana’s Chief Legal Officer filed a form for a total of 1,226 shares, valued at a much smaller amount of nearly $617,000. His intention was filed through Goldman Sachs & Co LLC
None of the insiders have sold the shares as of yet, except Ventura, who sold all 1,226 shares for a higher value of almost $621,313 on Sep 20 as well. The company, on the other hand, has been rolling out one positive news after the other.
Positive advancements
Disclosed on July 27, 2022, Humana’s second earnings report revealed that the company’s GAAP income for the quarter reached a value of almost $1.43 billion. This value is almost 26.7% higher year-on-year. Additionally, the adjusted earnings per share were $8.67, in comparison to $6.89 per share year-on-year. Adjusted revenues were up to $23.7 billion, having risen by 15.27% year-on-year.
On September 19, an announcement said that Humana would be expanding its footprint of primary care clinics. In its second joint venture with equity firm, Welsh, Carson, Anderson & Stowe (WCAS), Humana will develop almost 100 new clinics to cater senior care. The following day, HUM’s stock price opened at $509.75.
Adding to the news, there have been talks that Humana is planning to purchase Cano Health Inc (CANO: US). Other healthcare service providers have been circling around Cano as well, which is a primary healthcare provider. As a result, CANO’s price jumped by 32.17% in a single day. Meanwhile, HUM stock closed at $493.91 on September 22 and has been rated a moderate buy by analysts.
