Cigna (NYSE:CI) issued an update on its FY20 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $18.00-18.60 for the period, compared to the Thomson Reuters consensus estimate of $18.41. The company issued revenue guidance of $154-156 billion, compared to the consensus revenue estimate of $154.47 billion.Cigna also updated its FY 2020
Pre-Market guidance to 18.00-18.60 EPS.
Several research analysts have recently commented on CI shares. Royal Bank of Canada raised their price target on Cigna from $249.00 to $266.00 and gave the stock an outperform rating in a research report on Friday, May 1st. Raymond James lifted their target price on Cigna from $210.00 to $240.00 and gave the stock a strong-buy rating in a research report on Monday, May 4th. Barclays lowered their price target on Cigna from $232.00 to $229.00 and set an overweight rating on the stock in a report on Monday, May 4th. SVB Leerink lowered their price target on Cigna from $220.00 to $207.00 and set a market perform rating on the stock in a report on Friday. Finally, Sanford C. Bernstein lowered Cigna from an outperform rating to a market perform rating and set a $223.00 price objective on the stock. in a report on Monday, May 4th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $244.00.
Shares of CI opened at $172.69 on Friday. The stock has a fifty day moving average of $184.19 and a two-hundred day moving average of $189.90. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.67 and a current ratio of 0.74. The company has a market capitalization of $63.72 billion, a PE ratio of 12.29, a price-to-earnings-growth ratio of 0.87 and a beta of 0.70. Cigna has a fifty-two week low of $118.50 and a fifty-two week high of $224.64.
Cigna (NYSE:CI) last issued its quarterly earnings results on Thursday, July 30th. The health services provider reported $5.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $5.15 by $0.66. The company had revenue of $39.27 billion during the quarter, compared to the consensus estimate 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 EPS. As a group, equities research analysts forecast that Cigna will post 18.4 earnings per share for the current fiscal year.
In other news, Director John Partridge sold 2,700 shares of the company’s stock in a transaction on Monday, July 13th. The stock was sold at an average price of $180.04, for a total transaction of $486,108.00. Following the completion of the sale, the director now directly owns 27,216 shares in the company, valued at approximately $4,899,968.64. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David Cordani sold 150,531 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $208.40, for a total transaction of $31,370,660.40. Following the sale, the chief executive officer now directly owns 145,873 shares of the company’s stock, valued at $30,399,933.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 231,802 shares of company stock valued at $48,470,825. 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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