Cigna (NYSE:CI) Given New $205.00 Price Target at Mizuho

Cigna (NYSE:CI) had its price objective increased by Mizuho from $180.00 to $205.00 in a research report sent to investors on Wednesday morning, The Fly reports. Mizuho currently has a buy rating on the health services provider’s stock.

CI has been the subject of a number of other research reports. Oppenheimer set a $254.00 price target on Cigna and gave the company a buy rating in a research report on Tuesday, September 10th. Stephens set a $225.00 price target on Cigna and gave the company a buy rating in a research report on Friday, August 23rd. Citigroup reiterated a buy rating and issued a $221.00 price target (up previously from $203.00) on shares of Cigna in a research report on Tuesday, November 5th. ValuEngine upgraded Cigna from a sell rating to a hold rating in a research report on Wednesday, October 2nd. Finally, Raymond James increased their price target on Cigna from $185.00 to $190.00 and gave the company an outperform rating in a research report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $213.84.

CI stock traded up $2.86 during trading hours on Wednesday, hitting $188.20. 1,439,825 shares of the stock traded hands, compared to its average volume of 2,439,123. The stock has a 50-day simple moving average of $163.40 and a 200 day simple moving average of $160.81. Cigna has a one year low of $141.95 and a one year high of $226.60. The company has a market cap of $67.91 billion, a P/E ratio of 13.23, a P/E/G ratio of 0.92 and a beta of 0.72. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.76.

Cigna (NYSE:CI) last announced its earnings results on Thursday, October 31st. The health services provider reported $4.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.37 by $0.17. Cigna had a return on equity of 12.79% and a net margin of 3.30%. The business had revenue of $35.83 billion during the quarter, compared to analysts’ expectations of $34.20 billion. During the same quarter last year, the business posted $3.84 earnings per share. The company’s quarterly revenue was up 213.1% on a year-over-year basis. Analysts forecast that Cigna will post 16.93 earnings per share for the current year.

In other Cigna news, CEO David Cordani acquired 32,509 shares of Cigna stock in a transaction that occurred on Monday, September 9th. The stock was purchased at an average cost of $155.17 per share, with a total value of $5,044,421.53. 0.80% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. Empirical Finance LLC raised its stake in shares of Cigna by 0.9% during the 2nd quarter. Empirical Finance LLC now owns 9,077 shares of the health services provider’s stock worth $1,430,000 after purchasing an additional 77 shares in the last quarter. Crossmark Global Holdings Inc. raised its stake in shares of Cigna by 2.4% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 28,187 shares of the health services provider’s stock worth $4,441,000 after purchasing an additional 673 shares in the last quarter. Supplemental Annuity Collective Trust of NJ raised its stake in shares of Cigna by 20.0% during the 2nd quarter. Supplemental Annuity Collective Trust of NJ now owns 6,000 shares of the health services provider’s stock worth $945,000 after purchasing an additional 1,000 shares in the last quarter. Zions Bancorporation N.A. purchased a new stake in shares of Cigna during the 2nd quarter worth about $137,000. Finally, Oliver Luxxe Assets LLC raised its stake in shares of Cigna by 2.3% during the 2nd quarter. Oliver Luxxe Assets LLC now owns 18,218 shares of the health services provider’s stock worth $2,953,000 after purchasing an additional 412 shares in the last quarter. 87.40% of the stock is owned by hedge funds and other institutional investors.

About Cigna

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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