HomeMarket NewsCantor Fitzgerald: Cigna has a smoother journey towards achieving guidance compared to...

Cantor Fitzgerald: Cigna has a smoother journey towards achieving guidance compared to peers

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The Cigna HIT Tour In Virginia

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Cantor Fitzgerald recently expressed confidence in Cigna (NYSE:CI), stating that the company has a higher likelihood of achieving its reiterated 2024 earnings per share (EPS) guidance of at least $28 compared to CVS Health (CVS) and Humana (HUM), who provided updates to their 2024 guidance with added uncertainty.

The investment bank also highlighted Cigna management’s discussion with Cantor analysts, where they pointed out that the level of outpatient elevation witnessed in Q3 2023 aligned with internal estimates from Q2 2023, similar to United Health (UNH) and Elevance (ELV). In contrast, CVS Health and Humana raised their MA MLR guidance this quarter.

Cantor Fitzgerald mentioned that Cigna is unlikely to venture into the biosimilars business like CVS, but Cigna management views CVS’s newly formed Cordavis unit positively for the industry. The bank added that the expanding biosimilar market remains a significant advantage for Cigna and other pharmacy benefit managers.

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