Cigna Stock Slammed After $70 Billion Express Scripts "Defensive Deal" [zero hedge]
The Cigna Group (CI)
Last the cigna group earnings: 4/30 06:00 am
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US:NYSE Investor Relations:
cigna.com/about-us/investors
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Source: zero hedge
Update: Cigna Shareholders appear notably disappointed by this so-called "defensive deal," slamming the shares down over 10% (as ESRX jumps 12%). We note the combined market cap of the companies is modestly lower now - after the announcement...Some have suggested that Cigna's weakness is a removal of an acquisition premium based on hope that Amazon might have taken them out (prior to this deal).A “defensive deal” may surprise and disappoint the Street, wrote JPMorgan's Gary Taylor. Like CVS Health Corp.’s pending acquisition of the insurer Aetna Inc., Taylor sees the value but questions if it’s “worth the squeeze” for added debt for Cigna. The deal would leave Anthem to stand alone among the big five health insurers without an owned and integrated pharmacy benefit manager.* * *In the latest sign that investors are seeing a replay of the health-care consolidation wave from 2015, Bloomfield, Conn. health insurer Cigna Corp. is reportedly nearing a deal to buy Express Scripts Holdings
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News
- OMNICOMMANDER and Trust Federal Credit Union Unveil a New Digital Branch as Part of Their Strategic Partnership [Yahoo! Finance]Yahoo! Finance
- The Cigna Group's First Quarter 2024 Earnings Release DetailsPR Newswire
- The Cigna Group (NYSE: CI) had its "overweight" rating re-affirmed by analysts at Cantor Fitzgerald. They now have a $384.00 price target on the stock.MarketBeat
- The Cigna Group Named Among Best Employers for Health and Well-BeingPR Newswire
- The Cigna Group (NYSE: CI) was upgraded by analysts at StockNews.com from a "buy" rating to a "strong-buy" rating.MarketBeat
CI
Earnings
- 2/2/24 - Miss
CI
Sec Filings
- 4/12/24 - Form DEFA14A
- 4/11/24 - Form PX14A6G
- 4/5/24 - Form DEFA14A
- CI's page on the SEC website