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CI

Cigna

$166.86

-0.45 (-0.27%)

09:55
03/13/18
03/13
09:55
03/13/18
09:55

Cigna put volume heavy and directionally bearish

Bearish flow noted in Cigna with 3,046 puts trading, or 20x expected. Most active are Mar-18 165 puts and Mar-18 167.5 puts, with total volume in those strikes near 2,200 contracts. The Put/Call Ratio is 4.55, while ATM IV is up over 1 point on the day. Earnings are expected on May 3rd.

  • 13

    Mar

CI Cigna
$166.86

-0.45 (-0.27%)

03/13/18
BERN
03/13/18
INITIATION
Target $194
BERN
Market Perform
Cigna initiated with a Market Perform at Bernstein
Bernstein analyst Lance Wilkes initiated Cigna (CI) with a Market Perform rating and $195 price target following Cigna's announcement that it will buy Express Scripts (ESRX) for $67B. Wilkes views the deal as a bet that change comes more slowly to healthcare, and that financial returns from this deal will fund future strategic acquisitions for Cigna. In a research note to investors, Wilkes said he believes disruption is coming more quickly, in PBM and pharmacy and in the shift to value, and is "skeptical" of this move by Cigna. The analyst expects earnings growth to slow for Cigna driven by its employer focus, lack of scale and already best in class margins, and added that he has a "negative" outlook for Express Scripts, expecting declining gross margins as they lose Anthem (ANTM) and client pricing pressure as focus increases on drug costs.
03/12/18
LEER
03/12/18
NO CHANGE
LEER
Diplomat Pharmacy may be next takeover target, says Leerink
Leerink analyst David Larsen believes Diplomat Pharmacy (DPLO) could be the next takeover target following last week's buyout of Express Scripts (ESRX). A managed care plan or large pharmacy chain may find Diplomat's portfolio compelling, Larsen told investors earlier in a research note. He believes the rally post Cigna's (CI) acquisition of Express Scripts reflects a higher likelihood of a takeover, but that "significant upside" potential remains in Diplomat shares.
03/12/18
03/12/18
UPGRADE
Target $80

Market Perform
Express Scripts upgraded to Market Perform at Bernstein
As previously reported, Bernstein analyst Lance Wilkes upgraded Express Scripts (ESRX) to Market Perform from Underperform, stating that while he continues to be bearish on the underlying business, he views the deal to be acquired by Cigna (CI) for approximately $91 per share as a "very positive outcome." He would expect regulatory approval based upon lack of overlap, though Wilkes thinks it will likely be an extended regulatory process.
03/09/18
JPMS
03/09/18
NO CHANGE
JPMS
Overweight
JPMorgan sees opportunity in Cigna after yesterday's selloff
JPMorgan analyst Gary Taylor views Cigna's (CI) acquisition of Express Scripts (ESRX), which drove an 11.5% pullback in the shares yesterday, as a "primarily defensive deal, possibly rushed, reflecting a fairly sizable strategic turn for both companies." The analyst says that barring a complete collapse of pharmacy benefit manager or health plan margins over the next few years, he can make a "substantial upside case" for the shares of Cigna. The "sizable" free cash flow generation potential of the company is likely being underappreciated, Taylor tells investors in a research note. He keeps an Overweight rating on Cigna.

TODAY'S FREE FLY STORIES

HT

Hersha Hospitality

$18.49

-0.27 (-1.44%)

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CARS

Cars.com

$23.94

-0.37 (-1.52%)

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VERI

Veritone

$6.90

1.28 (22.78%)

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NGVT

Ingevity

$86.46

1.31 (1.54%)

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FUL

H.B. Fuller

$41.36

-0.36 (-0.86%)

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EMN

Eastman Chemical

$72.77

-0.36 (-0.49%)

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DSW

DSW

$23.04

-1.19 (-4.91%)

20:25
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  • 11

    Dec

CE

Celanese

$89.79

-1.445 (-1.58%)

20:24
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Initiation
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ASIX

AdvanSix

$25.33

0.18 (0.72%)

20:18
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GWW

Grainger

$285.60

-3.88 (-1.34%)

20:11
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  • 24

    Jan

NFLX

Netflix

$269.80

4.66 (1.76%)

20:00
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VIVHY

Vivendi

$0.00

(0.00%)

19:12
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Vivendi seeks to invest in Trump partner's Indonesia TV unit, Bloomberg says »

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GOOG

Alphabet

$1,040.02

3.5 (0.34%)

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Alphabet Class A

$1,052.80

5.81 (0.55%)

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Human rights orgs urge Google to not launch censored app in China, Verge says »

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Alphabet

$1,040.02

3.5 (0.34%)

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Alphabet Class A

$1,052.80

5.81 (0.55%)

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  • 11

    Dec

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    Mar

ASNA

Ascena Retail

$2.73

-0.28 (-9.30%)

, ASPU

Aspen Group

$5.66

-0.14 (-2.41%)

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ASNA

Ascena Retail

$2.73

-0.28 (-9.30%)

ASPU

Aspen Group

$5.66

-0.14 (-2.41%)

CARS

Cars.com

$23.94

-0.37 (-1.52%)

TROX

Tronox

$7.05

-0.25 (-3.42%)

CR

Crane

$78.23

-0.99 (-1.25%)

SFIX

Stitch Fix

$25.92

-0.42 (-1.59%)

CASY

Casey's General Stores

$119.64

-1.78 (-1.47%)

NX

Quanex

$14.05

-0.13 (-0.92%)

CAMP

CalAmp

$17.02

-0.23 (-1.33%)

RARX

RA Pharmaceuticals

$17.58

1.13 (6.87%)

SAEX

SAExploration

$3.33

-0.11 (-3.20%)

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  • 10

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TROX

Tronox

$7.05

-0.25 (-3.42%)

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Tronox CEO discloses purchase of 25K shares of common stock »

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ALGT

Allegiant Travel

$124.89

-1.45 (-1.15%)

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SPLK

Splunk

$108.55

2.85 (2.70%)

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  • 10

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EFC

Ellington Financial

$15.57

0.01 (0.06%)

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NTDOY

Nintendo

$0.00

(0.00%)

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New 'Smash Bros.' fastest selling Switch game so far, Gamesindustry.biz says »

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GOOG

Alphabet

$1,040.02

3.5 (0.34%)

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Alphabet Class A

$1,052.80

5.81 (0.55%)

18:15
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Google CEO supports privacy law, denies political bias, Bloomberg says »

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GOOG

Alphabet

$1,040.02

3.5 (0.34%)

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Alphabet Class A

$1,052.80

5.81 (0.55%)

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  • 11

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  • 03

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APTI

Apptio

$37.86

-0.17 (-0.45%)

18:13
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NMRK

Newmark

$8.56

0.21 (2.52%)

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Newmark CEO Barry Gosin buys over $2.6M in company shares »

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EVTC

Evertec

$26.83

-0.365 (-1.34%)

17:52
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  • 11

    Dec

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  • 18

    Dec

ALTM

Altus Midstream Company

$8.50

0.6 (7.59%)

, APA

Apache

$31.27

-1.74 (-5.27%)

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Altus Midstream Company

$8.50

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APA

Apache

$31.27

-1.74 (-5.27%)

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RHT

Red Hat

$177.13

0.03 (0.02%)

, IBM

IBM

$121.13

1.77 (1.48%)

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RHT

Red Hat

$177.13

0.03 (0.02%)

IBM

IBM

$121.13

1.77 (1.48%)

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  • 03

    Mar

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