Guggenheim Cuts Cigna Group (NYSE:CI) Price Target to $350.00

Key Points

• Guggenheim has reduced Cigna Group's price target from $388.00 to $350.00, indicating a potential upside of 32.76% from its current price, while maintaining a "buy" rating on the stock.
• Shares of Cigna Group opened at $263.64 with a 12-month high of $370.83 and a low of $256.89, showing a significant fluctuation in stock performance over the past year.
• Despite the price target cut, the average rating for Cigna Group remains a "Moderate Buy," supported by multiple analysts with varying price objectives and ratings.

Cigna Group (NYSE:CI - Get Free Report) had its price target lowered by research analysts at Guggenheim from $388.00 to $350.00 in a report released on Monday,Benzinga reports. The firm presently has a "buy" rating on the health services provider's stock. Guggenheim's target price would indicate a potential upside of 32.76% from the stock's current price.

A number of other research firms also recently commented on CI. TD Cowen upgraded Cigna Group to a "strong-buy" rating in a research report on Monday, June 23rd. Robert W. Baird dropped their price objective on shares of Cigna Group from $388.00 to $362.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Mizuho boosted their target price on shares of Cigna Group from $360.00 to $384.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. Truist Financial increased their price target on shares of Cigna Group from $385.00 to $405.00 and gave the company a "buy" rating in a report on Monday, May 12th. Finally, Morgan Stanley boosted their price objective on Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Three investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Cigna Group has an average rating of "Moderate Buy" and an average price target of $376.56.

Cigna Group Stock Performance

Shares of NYSE CI opened at $263.64 on Monday. The firm has a 50 day moving average of $308.90 and a 200 day moving average of $312.33. Cigna Group has a 12-month low of $256.89 and a 12-month high of $370.83. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $70.37 billion, a price-to-earnings ratio of 14.40, a price-to-earnings-growth ratio of 0.79 and a beta of 0.47.

Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The health services provider reported $7.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.15 by $0.05. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The firm had revenue of $67.13 billion for the quarter, compared to analysts' expectations of $62.61 billion. During the same quarter last year, the business posted $6.72 earnings per share. The company's revenue for the quarter was up 11.0% compared to the same quarter last year. On average, research analysts anticipate that Cigna Group will post 29.77 earnings per share for the current year.

Institutional Investors Weigh In On Cigna Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Flaharty Asset Management LLC bought a new position in Cigna Group in the first quarter worth approximately $28,000. 1248 Management LLC purchased a new position in shares of Cigna Group in the 1st quarter valued at $29,000. Solstein Capital LLC bought a new position in shares of Cigna Group in the 2nd quarter worth $29,000. Activest Wealth Management lifted its stake in shares of Cigna Group by 360.0% during the 1st quarter. Activest Wealth Management now owns 92 shares of the health services provider's stock worth $30,000 after purchasing an additional 72 shares during the last quarter. Finally, Chilton Capital Management LLC bought a new stake in Cigna Group during the second quarter valued at about $30,000. 86.99% of the stock is owned by institutional investors.

Cigna Group Company Profile

The Cigna Group, together with its subsidiaries, provides insurance and related products and services in the United States. Its Evernorth Health Services segment provides a range of coordinated and point solution health services, including pharmacy benefits, home delivery pharmacy, specialty pharmacy, distribution, and care delivery and management solutions to health plans, employers, government organizations, and health care providers.

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