Cigna (NYSE:CI) Given New $305.00 Price Target at SVB Leerink

Defense World · Aug 12, 2022 15:32

Cigna (NYSE:CI – Get Rating) had its price objective hoisted by SVB Leerink from $276.00 to $305.00 in a research note issued on Wednesday, Marketbeat Ratings reports. The firm currently has a "market perform" rating on the health services provider's stock. SVB Leerink's target price suggests a potential upside of 6.64% from the stock's current price.

A number of other analysts have also commented on the stock. Mizuho boosted their price objective on shares of Cigna from $291.00 to $330.00 and gave the stock a "buy" rating in a research report on Friday, August 5th. Stephens boosted their price objective on Cigna from $265.00 to $290.00 and gave the company an "overweight" rating in a research note on Wednesday, April 20th. The Goldman Sachs Group upped their target price on Cigna from $273.00 to $311.00 and gave the stock a "neutral" rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft increased their target price on Cigna from $236.00 to $284.00 in a research note on Thursday, June 9th. Finally, Oppenheimer lifted their target price on Cigna from $310.00 to $320.00 and gave the company an "outperform" rating in a research note on Monday. Seven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $304.67.

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Cigna Trading Down 0.4 %

Shares of CI opened at $286.00 on Wednesday. The stock has a fifty day moving average of $266.54 and a two-hundred day moving average of $252.56. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.72 and a current ratio of 0.72. Cigna has a fifty-two week low of $191.74 and a fifty-two week high of $289.63. The company has a market capitalization of $87.26 billion, a PE ratio of 17.05, a price-to-earnings-growth ratio of 1.12 and a beta of 0.73.

Cigna (NYSE:CI – Get Rating) last posted its quarterly earnings data on Thursday, August 4th. The health services provider reported $6.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.62 by $0.60. Cigna had a net margin of 3.05% and a return on equity of 15.91%. The business had revenue of $45.48 billion during the quarter, compared to analysts' expectations of $44.34 billion. During the same period last year, the firm posted $5.24 earnings per share. The business's revenue was up 5.4% on a year-over-year basis. As a group, analysts forecast that Cigna will post 23 EPS for the current year.

Insider Activity at Cigna

In other news, SVP Hoeltzel Mary T. Agoglia sold 7,044 shares of Cigna stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $286.89, for a total transaction of $2,020,853.16. Following the transaction, the senior vice president now directly owns 8,498 shares of the company's stock, valued at $2,437,991.22. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, SVP Hoeltzel Mary T. Agoglia sold 7,044 shares of the company's stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $286.89, for a total transaction of $2,020,853.16. Following the completion of the transaction, the senior vice president now directly owns 8,498 shares in the company, valued at approximately $2,437,991.22. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jason D. Sadler sold 3,458 shares of the stock in a transaction on Tuesday, June 28th. The stock was sold at an average price of $270.00, for a total transaction of $933,660.00. Following the transaction, the insider now directly owns 31,749 shares in the company, valued at $8,572,230. The disclosure for this sale can be found here. Insiders have sold a total of 84,060 shares of company stock valued at $22,996,508 over the last quarter. 0.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cigna

A number of large investors have recently modified their holdings of the company. United Capital Financial Advisers LLC raised its stake in shares of Cigna by 17.2% during the second quarter. United Capital Financial Advisers LLC now owns 10,923 shares of the health services provider's stock worth $2,878,000 after acquiring an additional 1,605 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Cigna by 19.7% in the second quarter. Franklin Resources Inc. now owns 126,278 shares of the health services provider's stock valued at $33,278,000 after acquiring an additional 20,786 shares in the last quarter. Cetera Investment Advisers boosted its holdings in shares of Cigna by 0.6% during the 2nd quarter. Cetera Investment Advisers now owns 18,998 shares of the health services provider's stock valued at $5,006,000 after buying an additional 110 shares in the last quarter. Cetera Advisors LLC boosted its holdings in shares of Cigna by 53.5% during the 2nd quarter. Cetera Advisors LLC now owns 6,842 shares of the health services provider's stock valued at $1,803,000 after buying an additional 2,385 shares in the last quarter. Finally, Moreno Evelyn V bought a new stake in shares of Cigna during the 2nd quarter valued at $204,000. 88.57% of the stock is currently owned by institutional investors.

About Cigna

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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.

Cigna (NYSE:CI) Given New $305.00 Price Target at SVB Leerink

Cigna Trading Down 0.4 %

Insider Activity at Cigna

Hedge Funds Weigh In On Cigna

About Cigna

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