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Humana (HUM) Subsidiary Wins $70.8B DoD East Region Contract
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Humana Inc. (HUM - Free Report) announced that the company’s military subsidiary received a contract from the U.S. Department of Defense’s defense health agency. Per reports, the potential value of the contract for the TRICARE program in the East Region is $70.8 billion, according to the Department of Defense.
The potential contract length can reach a total of nine years with a 12-month base period and eight yearly option periods. The military health care program TRICARE is expected to provide services to active military service members, retirees and their respective family members.
The HUM subsidiary also received the currently running contract in 2016. The latest award marks Humana’s sixth contract win and is expected to begin on Feb 1, 2023. Per the deal, the company will likely cover 4.6 million beneficiaries in 24 states and Washington DC.
Humana has a solid record of government contract wins. The latest win highlights the company’s capabilities and strong product suite. The same program for the West Region was awarded to TriWest Healthcare Alliance Corp. and has a potential run period of 10 years.
Price Performance
Humana’s shares have improved 11.3% in the past year compared with the 6.7% rise of the industry it belongs to.
The Zacks Consensus Estimate for HealthEquity’s current-year earnings is pegged at $1.29 per share. HQY has witnessed two upward estimate revisions in the past 30 days against none in the opposite direction. It beat earnings estimates by 8.6% in the last quarter.
The Zacks Consensus Estimate for MedAvail Holdings’ current-year bottom line indicates a 37.3% improvement from the prior-year reported number. MDVL has witnessed one upward estimate revision in the past 60 days against none in the opposite direction.
The Zacks Consensus Estimate for Progyny’s 2022 bottom line has increased 16.7% in the past 60 days. PGNY beat earnings estimates in all the past four quarters, with an average surprise of 233.8%.
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Humana (HUM) Subsidiary Wins $70.8B DoD East Region Contract
Humana Inc. (HUM - Free Report) announced that the company’s military subsidiary received a contract from the U.S. Department of Defense’s defense health agency. Per reports, the potential value of the contract for the TRICARE program in the East Region is $70.8 billion, according to the Department of Defense.
The potential contract length can reach a total of nine years with a 12-month base period and eight yearly option periods. The military health care program TRICARE is expected to provide services to active military service members, retirees and their respective family members.
The HUM subsidiary also received the currently running contract in 2016. The latest award marks Humana’s sixth contract win and is expected to begin on Feb 1, 2023. Per the deal, the company will likely cover 4.6 million beneficiaries in 24 states and Washington DC.
Humana has a solid record of government contract wins. The latest win highlights the company’s capabilities and strong product suite. The same program for the West Region was awarded to TriWest Healthcare Alliance Corp. and has a potential run period of 10 years.
Price Performance
Humana’s shares have improved 11.3% in the past year compared with the 6.7% rise of the industry it belongs to.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Humana currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader medical space are HealthEquity, Inc. (HQY - Free Report) , MedAvail Holdings, Inc. and Progyny, Inc. (PGNY - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for HealthEquity’s current-year earnings is pegged at $1.29 per share. HQY has witnessed two upward estimate revisions in the past 30 days against none in the opposite direction. It beat earnings estimates by 8.6% in the last quarter.
The Zacks Consensus Estimate for MedAvail Holdings’ current-year bottom line indicates a 37.3% improvement from the prior-year reported number. MDVL has witnessed one upward estimate revision in the past 60 days against none in the opposite direction.
The Zacks Consensus Estimate for Progyny’s 2022 bottom line has increased 16.7% in the past 60 days. PGNY beat earnings estimates in all the past four quarters, with an average surprise of 233.8%.