Humana Reduces 2012 Forecast as Medicare Costs Increase

Humana Inc. (HUM)

, the second-biggest provider of Medicare benefits, fell the most in more than three years after cutting its 2012 profit forecast on higher-than- anticipated costs.

Humana tumbled 9.8 percent to $63.66 at 10:17 a.m. in New York trading, after dropping as much as 10 percent for its biggest intraday decline since March 2009. Earnings this year may be $6.90 to $7.10 a share, the Louisville, Kentucky-based health plan said yesterday in a statement. That was below the $7.88 average of 10 analyst estimates compiled by Bloomberg.

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Source: Bloomberg