Raymond James reiterates Humana stock rating on Q3 beat
Raymond James reiterated an Outperform rating and $520.00 price target on Humana (NYSE:HUM) after its Q3 2026 results. Revenue was $41.2B, beating estimates, with an adjusted pre-tax loss of $104M, better than expected. EPS was -$0.70, topping forecasts. The stock has risen 68% in six months. Humana raised its full-year EPS guidance to at least $9.50. Other analysts have mixed ratings and targets.
How this was made
The 30-second read
Why it matters
The earnings beat and guidance raise expectations for near‑term earnings growth, supporting a bullish stance on HUM.
Market read
Humana's earnings beat and higher guidance provide a fresh catalyst for price appreciation.
What to watch
The medical loss ratio improvement is modest and could be vulnerable to future cost pressures; also, CenterWell's miss may offset some upside.
Background
Humana reported Q3 2026 results, beating revenue and loss expectations and raising its full‑year earnings outlook.
Ticker impact
Raymond James reiterated an Outperform rating and raised the price target to $520 after Humana's Q3 earnings beat revenue and loss estimates and raised full-year guidance.
likely upward as the market prices in the earnings beat and higher guidance
Revenue topped estimates, loss per share was better than expected, and guidance was raised, all of which are fresh primary disclosures.
Market effects
Health insurance sector may see broader optimism as Humana's results suggest improved profitability trends.
U.S. large‑cap healthcare stocks could benefit from the positive earnings surprise.
Limited to U.S. markets; no immediate global macro effect.
Counterpoint
If the loss per share, though better than estimates, remains negative, some investors may view the beat as insufficient and wait for sustained profitability.
Key entities
- companyHumana Inc.
U.S. health insurance provider.
- analystRaymond James
Equity research firm that upgraded HUM.
