Cigna (NYSE:CI) Price Target Cut to $207.00

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Cigna (NYSE:CI) had its price target dropped by Morgan Stanley from $241.00 to $207.00 in a research note issued to investors on Friday, BenzingaRatingsTable reports. The firm currently has an “overweight” rating on the health services provider’s stock. Morgan Stanley’s price target points to a potential upside of 15.51% from the stock’s current price.

A number of other analysts have also commented on the stock. UBS Group set a $36.00 target price on shares of Halliburton and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Cantor Fitzgerald reaffirmed a “buy” rating and set a $75.00 target price on shares of Emergent Biosolutions in a report on Sunday, April 21st. Zacks Investment Research raised shares of HB Fuller from a “sell” rating to a “hold” rating in a report on Tuesday, June 11th. Citigroup raised shares of Atara Biotherapeutics from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $23.00 to $24.00 in a report on Monday, June 3rd. Finally, ValuEngine lowered shares of Ultrapar Participacoes from a “sell” rating to a “strong sell” rating in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $217.40.

CI opened at $179.21 on Friday. The stock’s fifty day simple moving average is $157.65. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89. Cigna has a 52 week low of $141.95 and a 52 week high of $226.60. The firm has a market cap of $68.00 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 0.87 and a beta of 0.71.

Cigna (NYSE:CI) last released its earnings results on Thursday, May 2nd. The health services provider reported $3.90 EPS for the quarter, topping analysts’ consensus estimates of $3.74 by $0.16. Cigna had a net margin of 4.11% and a return on equity of 14.23%. The firm had revenue of $33.43 billion during the quarter, compared to analyst estimates of $32.79 billion. During the same quarter in the previous year, the business earned $4.11 EPS. The business’s quarterly revenue was up 192.9% compared to the same quarter last year. Equities analysts forecast that Cigna will post 16.55 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. FMR LLC boosted its stake in Cigna by 21.6% in the 1st quarter. FMR LLC now owns 12,229,261 shares of the health services provider’s stock worth $1,966,710,000 after purchasing an additional 2,171,463 shares during the period. Geode Capital Management LLC boosted its stake in Cigna by 61.3% in the 4th quarter. Geode Capital Management LLC now owns 4,939,173 shares of the health services provider’s stock worth $936,405,000 after purchasing an additional 1,876,556 shares during the period. Boston Partners boosted its stake in Cigna by 34.7% in the 1st quarter. Boston Partners now owns 4,895,908 shares of the health services provider’s stock worth $787,360,000 after purchasing an additional 1,261,911 shares during the period. Veritas Asset Management LLP boosted its stake in Cigna by 3.3% in the 1st quarter. Veritas Asset Management LLP now owns 4,605,129 shares of the health services provider’s stock worth $740,597,000 after purchasing an additional 146,675 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Cigna by 179.2% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,456,861 shares of the health services provider’s stock worth $846,447,000 after purchasing an additional 2,860,291 shares during the period. 88.18% of the stock is owned by institutional investors.

Cigna Company Profile

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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