Cigna Corp on Thursday forecast 2020 revenue well above Wall Street estimates on...
) on Thursday forecast 2020 revenue well above Wall Street estimates on Thursday, as it expects a significant increase in the number of people signing up for its government-backed Medicare Advantage health plans.
The insurer, which is now also one of the biggest pharmacy benefit managers after its $52 billion acquisition of Express Scripts in 2018, said it expects revenue of between $154 billion and $156 billion in 2020. That exceeds the average analyst estimate of $148.73 billion, according to Refinitiv data.
While Cigna’s medical care ratio - the percentage premiums it collects that goes to pay medical claims - worsened in the fourth quarter, it met analyst expectations of 82.3%. Cigna forecast 2020 adjusted earnings of between $18 and $18.60 per share. Analysts were estimating $18.59.
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