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News Breaks
February 24, 2014
09:47 EDTHUMHumana says evaluating changes detailed in CMS Medicare Advantage notice
Humana stated in a regulatory filing that on Friday, February 21, after the stock market close, the Centers for Medicare and Medicaid Services, or CMS, issued its Advance Notice detailing preliminary 2015 Medicare Advantage benchmark payment rates. CMS has invited public comment on these preliminary rates before releasing final rates on April 7. In the company’s earnings release call for Q4 held on February 5, the company discussed that it anticipated the Advance Notice would result in a decline in Medicare Advantage funding of 6%-7% for 2015, including the impact of the industry fee. "Based upon the 2015 Advance Notice, these same factors as well as the potential impact of CMS’s proposed changes to the calculation of Fee-for-Service, or FFS, costs are now expected to result in a funding decline for 2015 of 3.5%-4.0%," Humana said. The Advance Notice also proposes changes associated with enrollee risk assessments that would potentially result in additional significant funding declines. Humana will be providing comments to CMS in support of this critical program. Humana said, "The company is continuing to evaluate the changes detailed in the Advance Notice and the related impact company-wide and by geography. Further, Humana is closely analyzing all operational avenues to address the 2015 preliminary rates and the related impacts upon the company’s Medicare membership and its earnings for 2015. Humana is committed to providing quality care and service to its members through the Medicare Advantage program. The company will be drawing upon its program expertise to comment on the impact of these preliminary rate changes upon beneficiaries as it provides comments to CMS."
News For HUM From The Last 14 Days
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March 24, 2015
08:49 EDTHUMHumana price target raised to $193 from $167 at Oppenheimer
Oppenheimer increased its price target on Humana (HUM) to reflect the company's sale of Concentra to Select Medical (SEM) and Welsh Carson for $1.055B. The firm says that the deal is likely to be supportive of Humana's earnings growth over the longer term. It keeps an Outperform rating on the shares.
07:43 EDTHUMDaVita subpoenas have mixed outcomes, says William Blair
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07:41 EDTHUMHumana received DOJ request for information on Medicare
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March 23, 2015
12:17 EDTHUMOn The Fly: Midday Wrap
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09:07 EDTHUMSelect Medical agrees to acquire Concentra through JV with Welsh Carson
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09:04 EDTHUMHumana to sell Concentra to Select Medical, Welsh Carson for $1.055B in cash
Humana (HUM) has reached a definitive agreement to sell the stock of its wholly-owned subsidiary, Concentra, to MJ Acquisition Corporation, a joint venture between Select Medical Holdings Corporation (SEM), an operator of specialty hospitals and outpatient rehabilitation clinics in the U.S., and Welsh, Carson, Anderson & Stowe XII, L.P., a private equity fund, for approximately $1.055B in cash, subject to customary adjustments. Humana acquired Concentra in December 2010. Subsequently, the assets of certain privately-operated Community Based Outpatient Clinics were transferred into Concentra. Additionally, Humana has divested certain Concentra non-core assets over the past four years. The decision to divest Concentra demonstrates the company’s commitment to its previously announced business portfolio review. Humana will continue performing its review of the alignment and return potential of businesses across the organization to ensure each supports the company’s integrated care delivery strategy and earns the appropriate return on invested capital. The Concentra transaction is anticipated to close during the second quarter of 2015 subject to Hart Scott Rodino regulatory clearance and customary closing conditions. Humana anticipates using the net proceeds from the transaction to advance its strategic growth priorities, to fund additional share repurchases under its existing $2 billion authorization and for general corporate purposes. Goldman, Sachs & Co. is acting as financial advisor to Humana. Fried, Frank, Harris, Shriver & Jacobson LLP is acting as legal advisor to Humana. Concentra reported revenues for the year ended December 31, 2014 were approximately $1B. Humana anticipates the Concentra divestiture will be slightly dilutive to 2015 EPS excluding any one-time gain expected upon the close of the transaction.
09:02 EDTHUMHumana reiterates FY15 EPS view $8.50-$9.00, concensus $8.87
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09:02 EDTHUMHumana to sell Concentra to Select Medical, Welsh Carson for $1.055B in cash
March 20, 2015
08:18 EDTHUMLeerink healthcare services analyst holds an analyst/industry conference call
Healthcare Services Analyst Gupte discusses Sustainable Growth Rate (SGR) and the proposed pay-fors and implications For Healthcare Services on an Analyst/Industry conference call to be held on March 20 at 11 am.
March 16, 2015
09:04 EDTHUMHumana announcse completion of $500M accelerated share repurchase program
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