Cantor sees Cigna as having an “easier path” to guidance than peers (NYSE:CI)

Cantor Fitzgerald said he sees Cigna (New York Stock Exchange:CI) hitting its reiterated 2024 EPS guidance of at least $28 as “an easier path with less uncertainty” than the 2024 guidance updates issued by rivals CVS Health (CVS) and Humana (HUM).

The investment The bank also said that management, in conversations with Cantor analysts, “highlighted that the level of outpatient lift observed in the third quarter of 2023 was in line with internal estimates in the second quarter of 2023,” which was online with United Health (UNH) and elevation (PRINCIPLE), but in contrast to CVS Health and Humana. He noted that both Humana and CVS raised their MA MLR guidance this quarter.

Cantor added that he doesn’t think Cigna will follow CVS into the biosimilars business, adding that Cigna management seemed to view CVS’s new Cordavis unit as a “positive for the industry.” Cantor added that “the growth of the biosimilars market continues to be a big tailwind for Cigna and other PBMs.”