- Cigna Corp (NYSE:CI) posted 1Q22 adjusted EPS well above expectations on enterprise-wide growth, with a particularly solid performance in specialty pharmacy and better than expected MCR on lower testing and treatment costs.
- The company raised FY22 guidance on 1Q outperformance.
- The analysts raised the price target to $272 from $235, with a Sector Perform rating.
- The analysts write that Evernorth saw sustained momentum across its specialty pharmacy business lines as Accredo and CuraScript continued to support outsized growth in the specialty platform.
- Management notes strong demand for Evernorth’s services among existing and new clients early in the 2023 selling season.
- With management continuing to view medicare advantage (MA) as a sustainable long-term growth opportunity, RBC looks forward to specific strategies for rejuvenating the MA book at CI’s Investor Day in June.
- Government membership decline was offset on the commercial side by solid growth in ASO membership.
- Management expects the international life divestiture to close later in 2Q than initially anticipated, which pushes the timing of buybacks to later in the year.
- Price Action: CI shares are down 1.70% at $262.36 during the market session on the last check Monday.
Marriott Vacations Q3 EPS $1.60 Beats $1.42 Estimate, Sales $1.05B Miss $1.07B Estimate
Marriott Vacations (NYSE:VAC) reported quarterly earnings of $1.60 per share which beat the analyst consensus estimate of $1.42 by 12.68 percent. This is a 297.53 percent increase over losses of $(0.81) per share from
