Humana�s (HUM) hiked its earnings forecasts for 2012, but it wasn’t enough to impress investors. �Shares of the nation�s second-largest provider of private Medicare health plans fell nearly 6%�or $$5.39 a share�to $84.73�a share during morning market action after the company reported fourth-quarter financial results that missed expectations and raised its earnings per share projections for 2012 less than expected as more Americans are expected to seek medical care this year.
Humana reported a profit of $199 million, or $1.20 a share, up from $107 million, or 63 cents, a year earlier. Excluding items such as favorable prior-period medical claims reserve development, earnings totaled $1.12 a share on revenue that jumped 9.4% to $9.06 billion.
Analysts polled by Thomson Reuters had expected earnings of $1.20 on revenue of $9.24 billion.
Humana hiked its 2012 earnings forecasts by 10 cents a share to range between $7.50 a share and $7.70 a share, anticipating that 40,000 more Medicare Advantage members may be added in 2012 than initially expected. Still, the Street expected Humana to earn $7.99 a share this year.
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