Why Cigna Corporation Shares Are Rising

Shares of healthcare providers and insurers, including Cigna Corp CI are trading higher in sympathy with Anthem, which gained after reporting better-than-expected third-quarter results and raising FY21 guidance.

Anthem reported quarterly earnings of $6.79 per share which beat the analyst consensus estimate of $6.39 by 6.3%. Anthem also reported quarterly sales of $35.50 billion which beat the analyst consensus estimate of $35.30 billion by 1%.

Cigna primarily provides pharmacy benefit management and health insurance services. Its PBM services were greatly expanded by its 2018 merger with Express Scripts and are mostly sold to health insurance plans and employers.

Cigna has a 52-week high of $272.81 and a 52-week low of $160.37.