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Cigna has confirmed it is not pursuing a merger with Humana, dismissing earlier speculation. Following this announcement, Cigna's stock rose 6.5%, while Humana's shares fell 7%. Cigna plans to focus on shareholder value through share repurchases and has $5.3 billion remaining on its repurchase authorization.
Cigna has officially confirmed it is not pursuing an acquisition of Humana, despite earlier merger talk rumors. The company plans to focus on stock buybacks, having completed $6 billion this year, and indicated that any future acquisitions would need to align strategically and financially. Following the announcement, Cigna's shares rose by 6.58%, while Humana's fell by 4.25%.
Cigna Group has confirmed it will not pursue a merger with Humana Inc., despite recent discussions between the two insurers. The company emphasized its commitment to established merger and acquisition criteria, stating it will only consider deals that are strategically aligned, financially attractive, and likely to succeed.
With President Trump’s return to the White House, health insurers are experiencing stock gains, anticipating a more favorable regulatory environment for Medicare Advantage (MA) and potential mergers. While CVS Health, Humana, and UnitedHealth Group see significant stock increases, concerns loom over Medicaid funding cuts and the future of Affordable Care Act subsidies, impacting companies like Centene and Oscar Health. Critics argue that MA plans can impose harsh restrictions, while supporters claim they offer superior care compared to traditional Medicare.
Multiple healthcare organizations are facing significant layoffs due to financial challenges. Texas Children's Hospital is cutting 1,000 jobs, while Novant Health plans to lay off 171 workers, and University Hospitals will eliminate over 300 positions. Other systems, including CarePoint and Kaiser Permanente, are also restructuring or closing facilities, leading to further job losses.
Cigna Corporation's price target has been adjusted to €406 from €422, while maintaining a Buy rating amid challenges in its pharmacy benefit management margins and the need for growth in its Evernorth segment. Despite these hurdles, the company reported strong Q3 revenues of €63.7 billion and expects at least 10% EPS growth for 2025, supported by new customer relationships and innovations in telemedicine. Cigna's robust market capitalization of €88.1 billion and a P/E ratio of 16.49 suggest a solid financial position, with a history of consistent dividend payments enhancing its appeal to investors.
The SMI is up in pre-market trading, while Wall Street faces pressure following disappointing tech results. Estee Lauder's shares have plummeted due to weak business in China, despite a rise in the Caixin/S&P Global PMI for manufacturing, indicating a slow economic recovery. Economists suggest that achieving China's 2024 growth target hinges on boosting consumer demand and household disposable income. The Shanghai Stock Exchange rose 0.6%, with major companies in Shanghai and Shenzhen gaining 0.9%.
Cigna Group reported a Q3 profit of $739 million, despite a $1 billion after-tax loss from its VillageMD investment. Revenue reached $63.7 billion, significantly up from $49 billion in the same quarter last year, surpassing analysts' expectations. Medical membership slightly declined to 19 million, while pharmacy benefit customers grew to nearly 120 million, bolstered by Centene's acquisition.
Cigna Group reported third-quarter earnings of $7.51 per share, surpassing Wall Street expectations. Revenue also exceeded estimates, fueled by new clients and growth in the company's specialty pharmacy segment. The company reaffirmed its outlook for the year.
New York City has ended coverage for GLP-1 weight-loss drugs, citing an error in their inclusion, while continuing to cover them for diabetes. Meanwhile, Michigan has filed a lawsuit against PBMs Optum Rx and Express Scripts for alleged collusion with opioid manufacturers, seeking accountability for their role in the opioid crisis. Additionally, health plans are previewing their Medicare Advantage offerings for 2025, with various expansions and new benefits aimed at diverse populations.
Cigna Corporation
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