BMO Capital Markets Boosts Aetna Inc. (AET) Price Target to $200.00
Aetna Inc. (NYSE:AET) had its target price boosted by BMO Capital Markets from $175.00 to $200.00 in a research report issued on Friday. The firm presently has a “market perform” rating on the stock. BMO Capital Markets’ price objective points to a potential upside of 15.53% from the stock’s previous close.
Other equities research analysts also recently issued research reports about the company. BidaskClub downgraded Aetna from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Zacks Investment Research upgraded Aetna from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a report on Tuesday, July 4th. Argus reiterated a “buy” rating and issued a $185.00 price objective (up previously from $165.00) on shares of Aetna in a report on Tuesday, September 12th. Deutsche Bank AG upped their price objective on Aetna from $157.00 to $163.00 and gave the company a “hold” rating in a report on Monday, August 7th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $163.00 price objective (up previously from $157.00) on shares of Aetna in a report on Friday, August 4th. Nine research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Aetna has an average rating of “Buy” and a consensus price target of $163.67.
Aetna (NYSE AET) traded down 3.07% during trading on Friday, hitting $173.12. The company had a trading volume of 12,494,382 shares. Aetna has a 12-month low of $104.59 and a 12-month high of $184.98. The firm has a 50-day moving average of $159.32 and a 200 day moving average of $151.29. The company has a market capitalization of $57.49 billion, a price-to-earnings ratio of 38.43 and a beta of 0.53.
Aetna (NYSE:AET) last released its quarterly earnings data on Thursday, August 3rd. The company reported $3.42 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $1.08. The business had revenue of $15.52 billion during the quarter, compared to the consensus estimate of $15.34 billion. Aetna had a return on equity of 20.52% and a net margin of 2.52%. The firm’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.21 earnings per share. On average, equities research analysts forecast that Aetna will post $9.49 earnings per share for the current year.
In related news, EVP Margaret M. Mccarthy sold 10,288 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $162.85, for a total transaction of $1,675,400.80. Following the completion of the transaction, the executive vice president now directly owns 33,563 shares of the company’s stock, valued at $5,465,734.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Karen S. Lynch sold 15,271 shares of the stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $161.91, for a total value of $2,472,527.61. Following the transaction, the president now directly owns 64,261 shares of the company’s stock, valued at $10,404,498.51. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Bruderman Asset Management LLC acquired a new position in Aetna during the second quarter valued at approximately $106,000. Liberty Capital Management Inc. boosted its position in Aetna by 206.9% during the second quarter. Liberty Capital Management Inc. now owns 933 shares of the company’s stock valued at $144,000 after purchasing an additional 629 shares during the last quarter. Westside Investment Management Inc. boosted its position in Aetna by 53.5% during the second quarter. Westside Investment Management Inc. now owns 1,148 shares of the company’s stock valued at $177,000 after purchasing an additional 400 shares during the last quarter. Phocas Financial Corp. acquired a new position in Aetna during the second quarter valued at approximately $182,000. Finally, Highstreet Asset Management Inc. boosted its position in Aetna by 105.5% during the third quarter. Highstreet Asset Management Inc. now owns 1,243 shares of the company’s stock valued at $198,000 after purchasing an additional 638 shares during the last quarter. 89.65% of the stock is owned by hedge funds and other 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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