Cigna Corporation is one of the largest health insurers in the US. It is estimated to have a membership of more than 20 million and is ranked fourth in the top five largest health insurance companies in the US. The largest is United Healthcare followed by Anthem Inc. Then comes Aetna, Cigna, and Humana. Cigna not only offers health insurance services, but also pharmacy benefit management services. The company counts US employers, the Department of Defense, the US Government, and multiple other corporate clients among its customers.
Performances Of The Best Health Care Stocks To Buy For 2020
The year 2020 was expected to be a very difficult year for health insurance companies. The outbreak of the COVID pandemic has severely disrupted the entire economy. Many US states have also witnessed their healthcare systems getting overwhelmed. Additionally, the US election in November posed a degree of uncertainty regarding the future direction as far as American healthcare policy is concerned. In such a scenario, some health insurance stocks have performed quite reasonably.
Anthem’s stock is up 4.3% in the year 2020. The stock closed at $313 on 24th November and was trading at a dividend yield of 1.2%. Anthem’s stock has gained almost 80% since the March market crash. HCA healthcare is also up 5.13% on a year-to-date basis. HCA’s stock closed at $155 on 24th November 2020. At the time, it was trading at a 0.19% dividend yield. HCA Healthcare’s stock is up a strong 127% since the March market fall. It has more than doubled over the past few months.
Lastly, Cigna’s stock is up 2.5% in the year 2020. It closed at $210 on 24th November 2020. The stock is up 62% since hitting a low in March.
Recent Q32020 Earnings Results
Cigna recently reported its Q32020 earnings results. Revenues were up from $38.5 million (Q32019) to $40.9 million while net income (adjusted) was slightly lower at $4.41 per share, down from $4.54 per share in Q32019.