Cigna (NYSE:CI) issued its quarterly earnings data on Thursday. The health services provider reported $5.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.15 by $0.66, MarketWatch Earnings reports. The firm had revenue of $39.27 billion during the quarter, compared to analysts’ expectations of $37.93 billion. Cigna had a return on equity of 15.89% and a net margin of 3.41%. Cigna’s revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the firm posted $4.30 earnings per share. Cigna updated its FY 2020
Pre-Market guidance to 18.00-18.60 EPS and its FY20 guidance to $18.00-18.60 EPS.
Shares of NYSE:CI opened at $172.69 on Friday. The company has a market cap of $63.72 billion, a P/E ratio of 12.29, a P/E/G ratio of 0.85 and a beta of 0.70. The company has a quick ratio of 0.67, a current ratio of 0.74 and a debt-to-equity ratio of 0.67. Cigna has a 52 week low of $118.50 and a 52 week high of $224.64. The business has a fifty day simple moving average of $184.19 and a 200-day simple moving average of $189.90.
CI has been the subject of several research reports. SunTrust Banks reduced their price objective on Cigna from $280.00 to $240.00 and set a “buy” rating for the company in a report on Monday, April 13th. Morgan Stanley lifted their price objective on Cigna from $251.00 to $258.00 and gave the stock an “overweight” rating in a report on Monday, April 13th. SVB Leerink dropped their price target on Cigna from $220.00 to $207.00 and set a “market perform” rating for the company in a research report on Friday. ValuEngine downgraded Cigna from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 4th. Finally, UBS Group dropped their price target on Cigna from $252.00 to $246.00 and set a “buy” rating for the company in a research report on Friday, June 5th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $244.00.
In other Cigna news, CEO David Cordani sold 1,490 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $205.00, for a total transaction of $305,450.00. Following the completion of the sale, the chief executive officer now owns 49,459 shares of the company’s stock, valued at $10,139,095. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John Partridge sold 2,700 shares of the business’s stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $180.04, for a total value of $486,108.00. Following the sale, the director now directly owns 27,216 shares of the company’s stock, valued at approximately $4,899,968.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 231,802 shares of company stock valued at $48,470,825. Company insiders own 0.90% of the company’s stock.
Cigna Corporation, a health service organization, provides insurance and related products and services in the United States and internationally. It operates through Integrated Medical, Health Services, International Markets, and Group Disability and Other segments. The Integrated Medical segment offers medical, pharmacy, dental, behavioral health and vision, health advocacy programs, and other products and services to insured and self-insured clients; Medicare Advantage, Medicare Supplement, and Medicare Part D plans to Medicare-eligible beneficiaries, as well as Medicaid plans; and health insurance coverage to individual customers on and off the public exchanges.
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