Oppenheimer Believes Cigna (CI) Still Has Room to Grow
Oppenheimer analyst Michael Wiederhorn assigned a Buy rating to Cigna (CI) today and set a price target of $254.00. The company’s shares closed last Wednesday at $219.43, close to its 52-week high of $230.90.
According to TipRanks.com, Wiederhorn is a top 100 analyst with an average return of 22.9% and a 74.1% success rate. Wiederhorn covers the Healthcare sector, focusing on stocks such as The Ensign Group, Addus Homecare, and HCA Healthcare.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cigna with a $258.21 average price target.
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Based on Cigna’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $40.98 billion and net profit of $1.39 billion. In comparison, last year the company earned revenue of $38.61 billion and had a net profit of $1.35 billion.
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Cigna Corp. engages in the provision of global health services. It operates through the following segments: Health Services, Integrated Medical, International Markets, and Group Disability and Other. The Health Services segment includes pharmacy benefits management, specialty pharmacy services, clinical solutions, home delivery, and health management services. The Integrated Medical segment offers a variety of health care solutions to employers and individuals. The International Markets segment covers supplemental health, life and accident insurance products; and health care coverage in its international markets as well as health care benefits to globally mobile employees of multinational organizations. The Group Disability and Other segment represents group disability and life, corporate-owned life insurance, and run-off business consisting of reinsurance; settlement authority; and individual life insurance and annuity and retirement benefits business. The company was founded in 1792 and is headquartered in Bloomfield, CT.