Humana
Medicare-focused insurer integrating CenterWell pharmacy, primary care and home services.
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Profile
Sells Medicare Advantage and prescription-drug plans, Medicaid coverage, military health services and specialty benefits across the United States. CenterWell adds pharmacy, senior primary care and home services, while federal contracts supply most revenue and tie performance to CMS funding and quality rules.
Offers health coverage concentrated in Medicare, alongside Medicaid, military, prescription-drug and supplemental-benefit products. The Insurance segment earns premiums and service fees from individual and group Medicare Advantage plans, stand-alone Part D plans, state-based contracts, TRICARE and specialty benefits across the United States.
Operates CenterWell pharmacy solutions, senior-focused primary care and home solutions for health-plan members and outside payors. The integrated model connects insurance data, owned clinical services and contracted value-based providers to coordinate care and manage medical utilization. Transactions between CenterWell and Insurance make the segments operationally and financially interdependent.
Most premium and service revenue comes from federal government contracts, while Medicare Advantage economics depend on CMS funding, risk adjustment and Star Ratings that determine quality bonuses.
Company facts
Key statistics
Year to date +45.8% · Average volume (30d) 1.3M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 24, 2026 | Wolfe Research | Reiterate | Outperform | $498 | $450 | |
| Aug 5, 2026 | Morgan Stanley | Upgrade | Underweight | Equal Weight | ||
| Aug 4, 2026 | Morgan Stanley | Target | $249 | $370 | ||
| Jul 31, 2026 | Barclays | Reiterate | Equal Weight | $344 | $407 | |
| Jul 30, 2026 | Piper Sandler | Upgrade | Neutral | Overweight | $254 | $463 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 29, 2026Q2 FY26 | $7.27 | $7.61 | +4.7% | $40.58B | $40.87B | +0.7% | −5.99% |
| Apr 29, 2026Q1 FY26 | $10.24 | $10.31 | +0.7% | $39.37B | $39.65B | +0.7% | −2.75% |
| Feb 11, 2026Q4 FY25 | −$4.00 | −$3.96 | +1.0% | $32.04B | $32.52B | +1.5% | +1.96% |
| Nov 5, 2025Q3 FY25 | $2.93 | $3.24 | +10.6% | $32.00B | $32.65B | +2.0% | −5.22% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $32.11B | $32.39B | $32.65B | $32.52B | $39.65B | $40.87B | |
| Gross profit | $5.58B | $4.82B | $4.66B | $3.79B | $5.94B | $5.50B | |
| Operating income | $1.65B | $722.0M | $108.0M | −$1.03B | $1.58B | $1.36B | |
| Net income | $1.24B | $545.0M | $195.0M | −$796.0M | $1.19B | $693.0M | |
| Diluted EPS | $10.30 | $4.51 | $1.62 | −$6.61 | $9.83 | $5.72 | |
| Gross margin | 17.4% | 14.9% | 14.3% | 11.7% | 15.0% | 13.5% | |
| Operating margin | 5.1% | 2.2% | 0.3% | -3.2% | 4.0% | 3.3% |
Fiscal years (4-quarter sums)FY21 $84.09B · FY22 $92.87B · FY23 $106.37B · FY24 $117.76B · FY25 $129.66B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $23.87B · Total debt $14.25B · Total assets $57.20B · Shareholders' equity $19.21B
Dividends
Raised for 14 straight years — most recently to $0.885 from $0.7875 in Mar 2023. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 26, 2026 | Jun 26 | Jul 31 | $0.885 | |
| Mar 27, 2026 | Mar 27 | Apr 24 | $0.885 | |
| Dec 26, 2025 | Dec 26 | Jan 30 | $0.885 | |
| Sep 26, 2025 | Sep 26 | Oct 31 | $0.885 | |
| Jun 27, 2025 | Jun 27 | Jul 25 | $0.885 | |
| Mar 28, 2025 | Mar 28 | Apr 25 | $0.885 | |
| Dec 31, 2024 | Dec 31 | Jan 31 | $0.885 | |
| Sep 30, 2024 | Sep 30 | Oct 25 | $0.885 |
Ownership
Shares outstanding 120.08M · Float 119.82M · 99.8% free float
Insiders — no current Form 4 position.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Dodge & Cox | 10.94M | 9.11% | 13F | Aug 13, 2026 |
| BlackRock, Inc. | 10.42M | 8.68% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 7.84M | 6.53% | 13F | Aug 13, 2026 |
| Vanguard Portfolio Management LLC | 5.82M | 4.85% | 13F | Aug 13, 2026 |
| State Street Corp | 5.46M | 4.54% | 13F | Aug 7, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Feb 23, 2026 | Sanjay K. Shetty | officer: President, CenterWell | +810 | $185.21 |
Peers
- UnitedHealth Group
Dominant MA insurer with Optum's integrated care and pharmacy platform.
- CVS Health
Aetna MA, Oak Street primary care, Signify home health, Caremark PBM.
- Elevance Health
Blue Cross MA insurer with Carelon services, growing MA in 2025.
- Centene
#1 Medicaid insurer; 1M MA members with highest D-SNP concentration.
- Molina Healthcare
Medicaid and D-SNP specialist exiting traditional MA in 2027.
- Cigna
PBM powerhouse via Evernorth/Express Scripts; exited MA March 2025.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Humana | $386.23 | +0.16% | $46.30B | 36.5 | 31.2 | 0.3 | +26.2% |
| UnitedHealth Group | $392.50 | −0.12% | $356.86B | 25.3 | 18.4 | 0.8 | +0.4% |
| CVS Health | $93.07 | +0.02% | $118.74B | 24.6 | 11.5 | 0.3 | +7.3% |
| Elevance Health | $397.30 | +0.72% | $85.54B | 17.5 | 14.5 | 0.4 | +0.1% |
| Centene | $64.94 | +0.28% | $31.99B | — | 14.3 | 0.2 | +9.9% |
| Molina Healthcare | $200.00 | −0.01% | $10.44B | 1,052.6 | 28.5 | 0.2 | −4.8% |
| Cigna | $279.20 | +0.06% | $73.69B | 11.5 | 8.8 | 0.3 | +6.6% |
| Median | 24.6 | 14.4 | 0.3 | +3.5% |