I bought some HS today; a pity I didn't buy a few days ago. In any event, it still looks very attractive to me.

P/E too low--6.02 versus an industry average of 15. Bullish.

P/Book is 0.91, Bullish

Total cash per share (03/31/09): $5.20 versus today's closing share price of $12.86. Looks good to me.

Total cash (03/31/09): $340.36 million versus total debt of $258.52. Also looks good.

Has tripled from the bottom but is still only 57% of 52 week high, or about $10 below the 52 week high of 22.63.

2nd Q Earnings will be reported August 4. Earningswhispers.com shows a consensus earnings of $0.58.

Some highlights of Q1

Net income of $20.6 million, or $0.38 per diluted share, compared with $21.1 million, or $0.37 per diluted share, in the 2008 first quarter;
Premium revenue of $634.6 million, up 17.3% over the 2008 first quarter; and
Medicare Advantage membership of 175,138, up 14.8% over the 2008 first quarter, and 8.1% compared with year-end 2008, and stand-alone PDP membership of 286,810, up 11.2% over the 2008 first quarter and relatively flat compared with 2008 year-end.

See the following articles for recent comments and info:

"Is It Safe? Insurers Ripe for Buying"
<http://www.thestreet.com/_yahoo/story/10...>

"HealthMetrix Research Selects HealthSpring Website for 2009 MedicareWebWatch Certification"

<http://finance.yahoo.com/news/HealthMetr...>

"HealthSpring (HS) Bullish Technical Alert - Trend Up 80.8% - 7/29/2009 12:10:48 PM"

<http://www.mysmartrend.com/briefs.asp?st...>

Good luck!