Cigna raises annual profit forecast; shares down
BUZZ-Cigna raises annual profit forecast; shares down ** Shares of health insurer Cigna CI.N fall 2.9% to $287.85 premarket
** Co raises 2026 adjusted profit forecast to at least $30.45 per share, 10 cents higher than its previous forecast and above analysts' estimates of $30.41 per share, according to data compiled by LSEG
** "Unless the call commentary raises commercial cost trend flags similar to UNH's, we believe a large stock swing today is unlikely," - Cantor Fitzgerald
** Posts Q2 adjusted profit of $7.78 per share, above analysts' estimate of $7.60
** "I see this as a positive quarter with solid Evernorth results," says Bernstein analyst Lance Wilkes
** Medical loss ratio, or the percentage of premiums spent on medical care, stands at 84.5% for the quarter, in-line with analysts' estimate
** As of last close, CI up 7.7% YTD
(Reporting by Kunal Das in Bengaluru)
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