Humana's Valuation Revisited Amidst Volatility and Medicare Advantage Uncertainty

Humana's stock has been volatile, with a modest year-to-date return of 1.7% but a 3-year total shareholder return of -51.8%. Profits are climbing faster than the share price, but the stock still trades below analyst targets. The valuation picture is mixed, with ongoing Medicare Advantage Star ratings litigation and tougher reimbursement dynamics posing risks.