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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

TLND

Talend

$49.40

-1.81 (-3.53%)

09:36
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Talend analyst commentary  »

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RHI

Robert Half

$63.78

-2.58 (-3.89%)

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Breaking Hot Stocks news story on Robert Half »

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TXN

Texas Instruments

$109.51

-2.68 (-2.39%)

09:35
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09:35
Downgrade
Texas Instruments rating change  »

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  • 25

    Apr

TXN

Texas Instruments

$109.51

-2.68 (-2.39%)

09:33
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Downgrade
Texas Instruments rating change  »

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  • 25

    Apr

LNTH

Lantheus

$23.61

-1.575 (-6.25%)

09:33
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Lantheus promotes John Bolla to COO »

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  • 24

    Apr

MEOH

Methanex

$57.73

-2.64 (-4.37%)

09:33
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M&G Investments announces four director nominees for Methanex board »

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DHI

D.R. Horton

$41.28

0.75 (1.85%)

09:32
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09:32
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  • 25

    Apr

LNTH

Lantheus

$23.61

-1.575 (-6.25%)

09:31
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09:31
Hot Stocks
Lantheus announces upcoming retirement of Chief Medical Officer in September »

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  • 24

    Apr

NEON

Neonode

$2.80

(0.00%)

09:28
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Neonode says Convergence Promotions to act as sales and marketing partner »

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PLXP

PLx Pharma

$5.54

-0.525 (-8.66%)

09:27
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Syndicate
Breaking Syndicate news story on PLx Pharma »

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WEX

Wex

$184.59

-6.555 (-3.43%)

09:26
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09:26
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Wex to acquire fuel card business of EG Group »

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IART

Integra LifeSciences

$55.29

-2.07 (-3.61%)

09:25
03/25/19
03/25
09:25
03/25/19
09:25
Conference/Events
Integra LifeSciences participates in a conference call with JPMorgan »

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  • 29

    Mar

PTI

Proteostasis

$4.17

-0.14 (-3.25%)

, VRTX

Vertex

$181.49

-1.07 (-0.59%)

09:25
03/25/19
03/25
09:25
03/25/19
09:25
Recommendations
Proteostasis, Vertex analyst commentary  »

Piper sees 'clear…

PTI

Proteostasis

$4.17

-0.14 (-3.25%)

VRTX

Vertex

$181.49

-1.07 (-0.59%)

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  • 25

    Mar

  • 10

    Apr

09:25
03/25/19
03/25
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General news
FX Action: USD-CAD »

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General news
A Spring Rebound for Producer Sentiment »

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Conference/Events
The U.S. Commodity Futures Trading Commission to hold a meeting »

Open Commission Meeting…

ORGS

Orgenesis

$5.01

-0.19 (-3.65%)

09:24
03/25/19
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Orgenesis to establish new facility for cell, gene therapy manufacturing »

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AVP

Avon Products

$3.06

0.28 (10.07%)

09:24
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Recommendations
Avon Products analyst commentary at DA Davidson »

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MSL

MidSouth Bancorp

$10.22

-0.49 (-4.58%)

09:23
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Upgrade
MidSouth Bancorp rating change  »

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09:21
03/25/19
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Conference/Events
JPMorgan retail analyst to hold an analyst/industry conference call »

Broadlines &…

PLAN

Anaplan

$38.98

-1.47 (-3.63%)

09:21
03/25/19
03/25
09:21
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09:21
Initiation
Anaplan initiated  »

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CDOR

Condor Hospitality Trust

$8.70

(0.00%)

09:19
03/25/19
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09:19
Hot Stocks
Condor Hospitality Trust announces sale of non-core legacy hotel »

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SPX

S&P 500

$0.00

(0.00%)

, VIX

Volatility Index S&P 500 Options

$0.00

(0.00%)

09:18
03/25/19
03/25
09:18
03/25/19
09:18
Options
Overnight activity included 349 trades in SPX and 231 trades in VIX »

349 trades were executed…

SPX

S&P 500

$0.00

(0.00%)

VIX

Volatility Index S&P 500 Options

$0.00

(0.00%)

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FTDR

Frontdoor

$32.78

0.38 (1.17%)

09:16
03/25/19
03/25
09:16
03/25/19
09:16
Initiation
Frontdoor initiated  »

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ABBV

AbbVie

$79.94

-1.29 (-1.59%)

09:15
03/25/19
03/25
09:15
03/25/19
09:15
Downgrade
AbbVie rating change  »

AbbVie downgraded to Hold…

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  • 25

    Mar

  • 18

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