Oppenheimer Maintains Perform On Shares Of Aetna Following 3Q14 Results
In a research report issued today, Oppenheimer analyst Michael Wiederhorn maintained a Perform rating on Aetna (NYSE:AET). No price target was provided.
Wiederhorn noted, “AET generated 3Q:14 op. EPS of $1.79 (GAAP: $1.67 vs. our est. of $1.60 and the Street’s $1.57). Although the company beat expectations, management did note some commercial MLR pressure in its middle-market and individual businesses that drove full-year commercial MBR toward 80% from 79-79.5% and cost trend to the mid-to- higher end of its 6.0-7.0% range (from lower half). The company believes it has taken pricing actions that will largely offset this impact, and passed most of this quarter’s beat onto FY2014 guidance, which is now $6.60-$6.70 vs $6.45-$6.60. As a result, we are raising our FY2014/15 EPS estimates to $6.72/$7.18 from $6.63/$7.14.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Michael Wiederhorn has a total average return of 19.7% and a 85.4% success rate. Wiederhorn is ranked #98 out of 3350 analysts.