Why Cigna Group Shares Are Trading Higher

Cigna Group CI shares are trading higher by 3.1% to $304.91 Friday morning. Several healthcare providers' stocks are rising due to UnitedHealth's strong third-quarter results and an increase in its 2023 EPS guidance.

Investors and analysts may use UnitedHealth's results as a benchmark to assess the performance of other healthcare providers, including Cigna Group. If UnitedHealth is performing well, it suggests that the industry as a whole may be thriving, which can lead to increased investments in other healthcare companies.

UnitedHealth's strong results may also be seen as a reflection of a robust healthcare industry, which can benefit all companies within the sector. A healthy and growing healthcare industry can drive up stock prices for companies like Cigna Group.

See Also: UnitedHealth Delivers Q3 Earnings Beat

According to data from Benzinga Pro, Cigna Group has a 52-week high of $340.11 and a 52-week low of $240.50.