Piper Jaffray Believes Cigna Corp (NYSE: CI) Won’t Stop Here

By Ryan Adsit

In a report issued on September 13, Sarah James from Piper Jaffray reiterated a Buy rating on Cigna Corp (NYSE: CI), with a price target of $191. The company’s shares closed on Friday at $186.05, close to its 52-week high of $188.36.

According to TipRanks.com, James is a 5-star analyst with an average return of 16.0% and a 78.2% success rate. James covers the Services sector, focusing on stocks such as WellCare Health Plans, Universal American, and Molina Healthcare.

Currently, the analyst consensus on Cigna Corp is Strong Buy and the average price target is $192, representing a 3.2% upside.

In a report issued on September 5, Jefferies also reiterated a Buy rating on the stock with a $201 price target.

Based on Cigna Corp’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $10.32 billion and quarterly net profit of $813 million. In comparison, last year the company earned revenue of $9.97 billion and had a net profit of $510 million.

Based on the recent corporate insider activity of 96 insiders, corporate insider sentiment is negative on the stock. Last month, Jason Sadler, the Pres., International Markets of CI sold 37,756 shares for a total of $6,650,719.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Cigna Corp. provides medical, dental, disability, life and accident insurance and related products and services to businesses, governmental and non-governmental organizations and individuals. It operates through the following segments: Global Health Care; Global Supplemental Benefits; and Group Disability and Life.