Cigna Group's Earnings Growth and Cash Flow Highlighted at Investor Day

Mizuho's Ann Hynes raised their price target on Cigna Group (NYSE: CI) by 4.1% from $370 to $385 on March 8, 2024. The analyst maintained their Strong Buy rating on the stock. This update came after Cigna Group's Investor Day event, where the company's management expressed a positive outlook for the future. They reiterated their FY 2024 EPS guidance of at least $28.25 and raised their long-term earnings growth guidance to 10%-14% from 10%-13%.

One of the highlights of Cigna Group's Investor Day event was the company's strong cash flow, which continues to be an investment highlight. Additionally, the company's five-year growth outlook was increased by $10 billion. Mizuho's Ann Hynes views Cigna Group as a top pick for 2024, as she informed readers.

Other analysts also updated their ratings and price targets for Cigna Group on March 8, 2024. UBS's Kevin Caliendo raised their price target by 3.9%, from $385 to $400, while maintaining their Strong Buy rating on the stock. Truist Securities's David S Macdonald increased their price target by 5.3%, from $380 to $400, and reiterated their Strong Buy rating. RBC Capital's Ben Hendrix raised their price target by 8.2%, from $354 to $383, and maintained their Buy rating.

It is worth noting that 100% of the top-rated analysts currently rate Cigna Group as a Strong Buy or Buy. None of the analysts see it as a Hold, and no analysts either recommend or strongly recommend selling the stock.

The consensus forecast among analysts is that Cigna Group's upcoming year will deliver earnings per share (EPS) of $26.23. If the analysts' predictions are accurate, Cigna Group's next yearly EPS will be up by 49.3% on a year-over-year basis.

Looking at the stock performance, since Cigna Group's last quarterly report on December 31, 2023, the stock price has increased by 14.1%. Year-over-year, the stock is up by 22.4%. However, during that same period, Cigna Group has trailed the S&P 500, which has seen a rise of 28.3%.

Mizuho analyst Ann Hynes, who raised the price target on Cigna Group, is ranked by WallStreetZen in the top 8% out of 4,499 Wall Street analysts. With an average return of 9.1% and a win rate of 64.4%, Hynes specializes in analyzing companies in the Consumer Defensive, Communication Services, and Healthcare sectors.

Cigna Group, founded in 1982 and headquartered in Bloomfield, CT, is a managed healthcare and insurance company. It offers medical, dental, disability, life, and accident insurance primarily through employer-sponsored plans. The company's Evernorth segment provides pharmacy, benefits management, care delivery and management, and intelligence solutions to health plans, employers, government organizations, and healthcare providers.

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