Humana announced a 12% hike in its quarterly dividend to $0.70 per share from $0.63. Further, Jorge S. Mesquita and Marcy S. Klevorn were elected as members of its board of directors.
Earlier this month, the health insurance company reported better-than-expected 4Q results. Its revenues jumped 17% year-over-year and stood at $19.1 million, beating the Street’s estimates of $18.8 million. Humana reported a 4Q loss of $2.30 per share. Analysts were expecting a loss of $2.36 per share. (See Humana stock analysis on TipRanks)
Following the results, Oppenheimer analyst Michael Wiederhorn maintained a price target of $460 (21.6% upside potential) and maintained a Buy rating. In a note to investors, the analyst said, “the results and guidance were as expected.” He added, “HUM remains well-positioned for 2021.”
Overall, the Street has a bullish outlook on the stock, with a Strong Buy consensus rating based on 7 Buys and 1 Hold. The average analyst price target of $474.88 implies upside potential of about 25.5% to current levels.
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