Morgan Stanley Increases Aetna Inc. (AET) Price Target to $179.00
Aetna Inc. (NYSE:AET) had its price target raised by stock analysts at Morgan Stanley from $172.00 to $179.00 in a research report issued on Thursday. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 14.82% from the stock’s previous close.
Several other equities analysts have also commented on AET. Royal Bank Of Canada restated a “buy” rating and set a $145.00 price target on shares of Aetna in a research report on Monday, April 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $150.00 price objective (up previously from $140.00) on shares of Aetna in a report on Wednesday, May 3rd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $150.00 price objective (up previously from $130.00) on shares of Aetna in a report on Wednesday, May 3rd. Jefferies Group LLC reaffirmed a “hold” rating and issued a $140.00 price objective (up previously from $133.00) on shares of Aetna in a report on Wednesday, May 3rd. Finally, Cleveland Research raised shares of Aetna from a “neutral” rating to a “buy” rating in a report on Thursday, May 11th. Eight equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $157.99.
Aetna (AET) traded up 0.30% on Thursday, hitting $156.37. 307,524 shares of the company were exchanged. The firm has a 50 day moving average of $154.63 and a 200-day moving average of $139.99. Aetna has a 52-week low of $104.59 and a 52-week high of $161.69. The stock has a market cap of $51.93 billion, a PE ratio of 34.71 and a beta of 0.54.
Aetna (NYSE:AET) last released its quarterly earnings results on Thursday, August 3rd. The company reported $3.42 EPS for the quarter, topping the consensus estimate of $2.34 by $1.08. The business had revenue of $15.52 billion during the quarter, compared to analyst estimates of $15.34 billion. Aetna had a net margin of 2.52% and a return on equity of 20.52%. The company’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.21 earnings per share. On average, equities analysts expect that Aetna will post $9.55 earnings per share for the current fiscal year.
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In other Aetna news, EVP Margaret M. Mccarthy sold 27,028 shares of the company’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $149.23, for a total transaction of $4,033,388.44. Following the completion of the sale, the executive vice president now directly owns 33,563 shares of the company’s stock, valued at $5,008,606.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.90% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Guardian Life Insurance Co. of America raised its stake in 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. Concert Wealth Management Inc. raised its stake in Aetna by 0.4% in the first quarter. Concert Wealth Management Inc. now owns 3,262 shares of the company’s stock worth $405,000 after buying an additional 14 shares in the last quarter. CAPROCK Group Inc. raised its stake in Aetna by 0.9% in the first quarter. CAPROCK Group Inc. now owns 2,824 shares of the company’s stock worth $360,000 after buying an additional 25 shares in the last quarter. Rehmann Capital Advisory Group raised its stake in Aetna by 1.1% in the first quarter. Rehmann Capital Advisory Group now owns 2,335 shares of the company’s stock worth $298,000 after buying an additional 25 shares in the last quarter. Finally, Geneva Advisors LLC raised its stake in Aetna by 1.0% in the first quarter. Geneva Advisors LLC now owns 2,588 shares of the company’s stock worth $330,000 after buying an additional 25 shares in the last quarter. 91.69% of the stock is owned by institutional investors.
Aetna Company Profile
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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