Oppenheimer Boosts Cigna (NYSE:CI) Price Target to $310.00

Cigna (NYSE:CIGet Rating) had its price objective lifted by stock analysts at Oppenheimer from $300.00 to $310.00 in a research report issued to clients and investors on Monday, The Fly reports. Oppenheimer’s target price suggests a potential upside of 16.15% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. Morgan Stanley decreased their target price on shares of Cigna from $238.00 to $235.00 and set an “equal weight” rating for the company in a research note on Thursday, February 10th. Cowen raised shares of Cigna from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $242.00 to $329.00 in a research report on Monday. Sanford C. Bernstein lifted their price objective on shares of Cigna from $234.00 to $258.00 in a research report on Tuesday, January 11th. Cowen raised shares of Cigna from a “market perform” rating to an “outperform” rating in a research report on Monday. Finally, BMO Capital Markets lifted their price objective on shares of Cigna from $300.00 to $320.00 in a research report on Monday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $271.67.

NYSE CI opened at $266.90 on Monday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.66. Cigna has a 12-month low of $191.74 and a 12-month high of $272.81. The company has a market capitalization of $84.97 billion, a PE ratio of 16.56, a price-to-earnings-growth ratio of 1.07 and a beta of 0.78. The firm’s 50 day moving average is $246.69 and its 200-day moving average is $231.05.

Cigna (NYSE:CIGet Rating) last posted its quarterly earnings data on Friday, May 6th. The health services provider reported $6.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.18 by $0.83. Cigna had a net margin of 3.08% and a return on equity of 14.59%. The company had revenue of $44.01 billion for the quarter, compared to the consensus estimate of $43.48 billion. During the same period last year, the company earned $4.73 earnings per share. The firm’s revenue was up 7.4% compared to the same quarter last year. As a group, sell-side analysts expect that Cigna will post 22.5 EPS for the current year.

In other Cigna news, EVP Nicole S. Jones sold 5,918 shares of the business’s stock in a transaction dated Wednesday, April 20th. The stock was sold at an average price of $265.00, for a total transaction of $1,568,270.00. Following the completion of the transaction, the executive vice president now owns 36,045 shares of the company’s stock, valued at $9,551,925. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO David Cordani sold 45,380 shares of the business’s stock in a transaction dated Wednesday, April 20th. The stock was sold at an average price of $268.10, for a total value of $12,166,378.00. Following the transaction, the chief executive officer now directly owns 152,750 shares of the company’s stock, valued at approximately $40,952,275. The disclosure for this sale can be found here. In the last ninety days, insiders sold 91,836 shares of company stock valued at $23,795,261. 0.80% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the company. Country Trust Bank grew its holdings in shares of Cigna by 116.7% during the first quarter. Country Trust Bank now owns 104 shares of the health services provider’s stock worth $25,000 after purchasing an additional 56 shares during the last quarter. Missouri Trust & Investment Co bought a new stake in shares of Cigna during the fourth quarter worth about $28,000. Lloyd Advisory Services LLC. bought a new stake in shares of Cigna during the first quarter worth about $30,000. Exane Derivatives grew its holdings in shares of Cigna by 6,200.0% during the first quarter. Exane Derivatives now owns 126 shares of the health services provider’s stock worth $30,000 after purchasing an additional 124 shares during the last quarter. Finally, Wagner Wealth Management LLC grew its holdings in shares of Cigna by 144.4% during the fourth quarter. Wagner Wealth Management LLC now owns 132 shares of the health services provider’s stock worth $30,000 after purchasing an additional 78 shares during the last quarter. Institutional investors own 88.57% of the company’s stock.

Cigna Company Profile (Get Rating)

Cigna Corporation provides insurance and related products and services in the United States. Its Evernorth segment provides a range of coordinated and point solution health services, including pharmacy, benefits management, care delivery and management, and intelligence solutions to health plans, employers, government organizations, and health care providers.

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