Aetna Inc. (AET) Downgraded by BidaskClub
Aetna Inc. (NYSE:AET) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Wednesday.
Several other brokerages also recently weighed in on AET. Oppenheimer Holdings, Inc. reiterated an “outperform” rating on shares of Aetna in a report on Friday, March 31st. CIBC restated an “outperform” rating on shares of Aetna in a report on Monday, April 3rd. Zacks Investment Research upgraded Aetna from a “hold” rating to a “buy” rating and set a $143.00 price objective on the stock in a report on Tuesday, April 4th. Deutsche Bank AG started coverage on Aetna in a research report on Wednesday, April 5th. They set a “hold” rating and a $135.00 target price on the stock. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $133.00 target price on shares of Aetna in a research report on Thursday, April 13th. Seven research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $152.84.
Shares of Aetna (AET) traded up 0.37% during trading on Wednesday, hitting $156.31. The company had a trading volume of 1,225,161 shares. The stock has a market capitalization of $51.85 billion, a P/E ratio of 47.67 and a beta of 0.54. Aetna has a 52 week low of $104.59 and a 52 week high of $156.49. The firm’s 50 day moving average is $151.67 and its 200-day moving average is $135.46.
Aetna (NYSE:AET) last issued its quarterly earnings data on Tuesday, May 2nd. The company reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.35. Aetna had a return on equity of 17.75% and a net margin of 1.84%. The business had revenue of $15.17 billion for the quarter, compared to the consensus estimate of $15.39 billion. During the same period in the prior year, the business posted $2.30 earnings per share. The company’s quarterly revenue was down 3.4% compared to the same quarter last year. Equities research analysts anticipate that Aetna will post $8.99 EPS for the current fiscal year.
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In related news, Chairman Mark T. Bertolini sold 103,547 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $140.79, for a total transaction of $14,578,382.13. Following the sale, the chairman now owns 659,888 shares in the company, valued at $92,905,631.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Margaret M. Mccarthy sold 27,028 shares of the firm’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $149.23, for a total transaction of $4,033,388.44. Following the sale, the executive vice president now owns 33,563 shares in the company, valued at approximately $5,008,606.49. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the company. FTB Advisors Inc. raised its position in shares of Aetna by 11.0% in the first quarter. FTB Advisors Inc. now owns 977 shares of the company’s stock worth $125,000 after buying an additional 97 shares during the period. Signature Estate & Investment Advisors LLC acquired a new position in shares of Aetna during the first quarter worth approximately $133,000. Liberty Capital Management Inc. increased its position in shares of Aetna by 206.9% in the second quarter. Liberty Capital Management Inc. now owns 933 shares of the company’s stock worth $144,000 after buying an additional 629 shares in the last quarter. Horan Capital Management acquired a new position in shares of Aetna during the first quarter worth approximately $157,000. Finally, Guardian Life Insurance Co. of America increased its position in shares of Aetna by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,353 shares of the company’s stock worth $173,000 after buying an additional 9 shares in the last quarter. Hedge funds and other institutional investors own 91.79% of the company’s stock.
Aetna Inc is a diversified healthcare benefits company. The Company operates through three segments: Health Care, Group Insurance and Large Case Pensions. It offers a range of traditional, voluntary and consumer-directed health insurance products and related services, including medical, pharmacy, dental, behavioral health, group life and disability plans, medical management capabilities, Medicaid healthcare management services, Medicare Advantage and Medicare Supplement plans, workers’ compensation administrative services and health information technology (HIT) products and services.
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