Analyst Consensus ?
ConsensusBuy39 ratings
Bullish2974.4%
Neutral1025.6%
Bearish00.0%
Cigna Corporation · CI · FY2025 Q2 · Calendar Q3 2025
Cigna: Growth held, but cost and regulatory risks remain
The quarter supports a constructive operating thesis through revenue and adjusted EPS growth, Evernorth scale, specialty expansion and new affordability programs. The case remains conditional because guidance was maintained, the event-session market reaction was negative, and management continues to face medical-cost, pricing, regulatory and GLP-1 economics risks.
Reported Before market openNYSEHealthcare
$71.48B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$7.20
Consensus $7.16
EPS surprise
+0.6%
Reported versus consensus
Reported revenue
$67.23B
Consensus $62.91B
Revenue surprise
+6.9%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-10.2%
Event window
SPY move
-0.4%
Same window
Abnormal move
-9.9%
Stock minus SPY
Volume
3.5×
Versus trailing sessions
Subsequent drift
+11.8%
Up to 20 sessions
CISPY benchmark
Ask FN2 about CI FY2025 Q2
Transcript, numbers and history already loaded
Why did CI fall 10.2% after beating EPS estimates in FY2025 Q2?What changed in CI's guidance and outlook in FY2025 Q2?Give me the bull and bear case for CI after FY2025 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Relative to the prior quarter, management maintained its full-year EPS outlook while emphasizing Evernorth's contribution, a new AI assistant, a $200 monthly GLP-1 out-of-pocket cap, and expanded specialty distribution. Regulatory developments and the risk discussion also remained important.
Guidance delta
Full-year adjusted EPS guidance was reaffirmed at at least $29.60; no increase was indicated.
Key takeaways
- Management described solid revenue and adjusted EPS growth while reaffirming full-year adjusted EPS guidance.
- Evernorth generated more than 60% of enterprise earnings, supported by pharmacy-benefit and specialty growth.
- The medical care ratio held at 83.2% despite elevated cost trends, which management presented as evidence of disciplined pricing.
- Cigna highlighted a new AI-powered virtual assistant, a $200 monthly GLP-1 out-of-pocket cap, and expanded specialty distribution.
- The stock fell sharply in the event session relative to the benchmark, underscoring investor sensitivity to execution and risk factors.
Management priorities
- Scale the AI-powered virtual assistant across Cigna Healthcare
- Expand the capped-cost GLP-1 benefit to more employer groups
- Broaden CuraScript and specialty distribution services
- Continue work with HHS on prior-authorization reforms
- Pursue multiyear renewals and client expansions across PBM and specialty platforms
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$270.53Current
$225Low
$324.61Average
$415High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 4, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Piper Sandler | Overweight | Overweight | Maintain | Oct 2, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Oct 1, 2026 |
| Jefferies | Hold | Buy | Downgrade | Aug 4, 2026 |
| Raymond James | Outperform | Strong Buy | Downgrade | Aug 3, 2026 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Jul 31, 2026 |
| Guggenheim | Buy | Buy | Maintain | Jul 31, 2026 |
| Barclays | Equal Weight | Equal Weight | Maintain | Jul 31, 2026 |
| Bernstein | Outperform | Outperform | Maintain | Jul 9, 2026 |
| Mizuho | Outperform | Outperform | Maintain | Jun 8, 2026 |
| UBS | Buy | Buy | Maintain | May 22, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | May 20, 2026 |
| Deutsche Bank | Hold | Buy | Downgrade | May 20, 2026 |
| Cantor Fitzgerald | Overweight | Overweight | Maintain | May 1, 2026 |
| Truist Securities | Buy | Buy | Maintain | Feb 17, 2026 |
| TD Cowen | Buy | Buy | Maintain | Feb 9, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Nov 4, 2025 |
| Goldman Sachs | Buy | Buy | Maintain | Nov 4, 2025 |
| Baird | Outperform | Outperform | Maintain | Aug 14, 2025 |
| Stephens& Co. | Overweight | Overweight | Maintain | Jan 31, 2025 |
| Stephens & Co. | Overweight | Overweight | Maintain | Jan 31, 2025 |
| Oppenheimer | Outperform | Outperform | Maintain | Jan 31, 2025 |
| Edward Jones | Hold | Buy | Downgrade | Aug 18, 2023 |
| B of A Securities | Buy | Buy | Maintain | Aug 4, 2023 |
| SVB Leerink | Market Perform | Market Perform | Maintain | Feb 8, 2023 |
| Credit Suisse | Outperform | Outperform | Maintain | Nov 7, 2022 |
| Loop Capital | Hold | Hold | Maintain | Jun 17, 2022 |
| Cowen & Co. | Outperform | Market Perform | Upgrade | May 9, 2022 |
| Seaport Global | Buy | Buy | Maintain | Nov 17, 2021 |
| BMO Capital | Outperform | Outperform | Maintain | Nov 8, 2021 |
| Citigroup | Buy | Buy | Maintain | Feb 5, 2021 |
| Wedbush | Neutral | Neutral | Maintain | Nov 25, 2020 |
| Susquehanna | Outperform | Neutral | Upgrade | Nov 25, 2020 |
| SunTrust Robinson Humphrey | Buy | Buy | Maintain | Nov 25, 2020 |
| Sterne Agee CRT | Buy | Neutral | Upgrade | Nov 25, 2020 |
| Sterne Agee | Neutral | Buy | Downgrade | Nov 25, 2020 |
| Monness Crespi Hardt | Buy | Buy | Maintain | Nov 25, 2020 |
| Leerink Swann | Outperform | Outperform | Maintain | Nov 25, 2020 |
| Bank of America | Buy | Buy | Maintain | Nov 25, 2020 |
| Monness, Crespi, Hardt | Neutral | Buy | Downgrade | Nov 5, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $270.53. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Piper Sandler | Analyst unavailable | $387 | $268.88 | +43.1% | Oct 2, 2026 |
| Piper Sandler | Jessica Tassan | $370 | $267.96 | +36.8% | Oct 2, 2026 |
| Jefferies | David Windley | $307 | $282.06 | +13.5% | Aug 4, 2026 |
| Raymond James | Analyst unavailable | $320 | $279.05 | +18.3% | Aug 3, 2026 |
| Robert W. Baird | Analyst unavailable | $362 | $287.66 | +33.8% | Jul 31, 2026 |
| Guggenheim | Analyst unavailable | $361 | $287.66 | +33.4% | Jul 31, 2026 |
| Wells Fargo | Analyst unavailable | $307 | $287.66 | +13.5% | Jul 31, 2026 |
| Bernstein | Analyst unavailable | $381 | $289.73 | +40.8% | Jul 8, 2026 |
| Wolfe Research | Justin Lake | $315 | $293.83 | +16.4% | Jun 16, 2026 |
| Mizuho Securities | Ann Hynes | $340 | $289.48 | +25.7% | Jun 8, 2026 |
| Barclays | Analyst unavailable | $304 | $286.24 | +12.4% | May 26, 2026 |
| UBS | Analyst unavailable | $400 | $282.02 | +47.9% | May 22, 2026 |
| Morgan Stanley | Analyst unavailable | $361 | $291.28 | +33.4% | May 20, 2026 |
| Deutsche Bank | Analyst unavailable | $302 | $291.28 | +11.6% | May 20, 2026 |
| Bernstein | Analyst unavailable | $371 | $279.35 | +37.1% | May 5, 2026 |
| Raymond James | Sarah James | $340 | $285.11 | +25.7% | May 1, 2026 |
| Robert W. Baird | Analyst unavailable | $337 | $285.6 | +24.6% | May 1, 2026 |
| Mizuho Securities | Analyst unavailable | $330 | $285.54 | +22.0% | May 1, 2026 |
| Barclays | Analyst unavailable | $310 | $290.58 | +14.6% | May 1, 2026 |
| Jefferies | Analyst unavailable | $330 | $278.64 | +22.0% | Apr 20, 2026 |
| Truist Financial | Analyst unavailable | $350 | $292.76 | +29.4% | Feb 17, 2026 |
| Deutsche Bank | Analyst unavailable | $304 | $291.17 | +12.4% | Feb 10, 2026 |
| Truist Financial | Analyst unavailable | $338 | $294.2 | +24.9% | Feb 9, 2026 |
| UBS | Analyst unavailable | $375 | $292.84 | +38.6% | Feb 9, 2026 |
| Barclays | Andrew Mok | $303 | $284.53 | +12.0% | Feb 6, 2026 |
| Mizuho Securities | Analyst unavailable | $325 | $283.91 | +20.1% | Jan 9, 2026 |
| Bernstein | Analyst unavailable | $307 | $287.1 | +13.5% | Jan 6, 2026 |
| Truist Financial | Analyst unavailable | $320 | $279.12 | +18.3% | Jan 5, 2026 |
| Barclays | Analyst unavailable | $305 | $279.12 | +12.7% | Jan 5, 2026 |
| Cowen & Co. | Charles Rhyee | $333 | $274.87 | +23.1% | Dec 15, 2025 |
| Guggenheim | Analyst unavailable | $318 | $273.57 | +17.5% | Dec 2, 2025 |
| Bernstein | Analyst unavailable | $294 | $271.57 | +8.7% | Nov 12, 2025 |
| UBS | Analyst unavailable | $294 | $268 | +8.7% | Nov 12, 2025 |
| Wells Fargo | Analyst unavailable | $300 | $264.66 | +10.9% | Nov 5, 2025 |
| Goldman Sachs | Scott Fidel | $330 | $258.62 | +22.0% | Nov 4, 2025 |
| Jefferies | David Windley | $310 | $244.41 | +14.6% | Nov 3, 2025 |
| Morgan Stanley | Erin Wright | $355 | $243 | +31.2% | Oct 31, 2025 |
| Barclays | Analyst unavailable | $300 | $245.1 | +10.9% | Oct 31, 2025 |
| Goldman Sachs | Scott Fidel | $370 | $295.41 | +36.8% | Oct 14, 2025 |
| Wells Fargo | Analyst unavailable | $354 | $302.99 | +30.9% | Oct 7, 2025 |
| Truist Financial | David MacDonald | $375 | $300.72 | +38.6% | Sep 2, 2025 |
| Robert W. Baird | Michael Ha | $372 | $286 | +37.5% | Aug 14, 2025 |
| Deutsche Bank | George Hill | $415 | $270.74 | +53.4% | Aug 5, 2025 |
| Guggenheim | Jason Cassorla | $388 | $333.82 | +43.4% | May 6, 2025 |
| Morgan Stanley | Erin Wright | $390 | $333.01 | +44.2% | May 5, 2025 |
| Barclays | Andrew Mok | $382 | $333.01 | +41.2% | May 5, 2025 |
| Wells Fargo | Stephen Baxter | $341 | $291.46 | +26.0% | Feb 4, 2025 |
| Piper Sandler | Jessica Tassan | $348 | $292.46 | +28.6% | Feb 3, 2025 |
| Raymond James | John Ransom | $360 | $294.21 | +33.1% | Jan 31, 2025 |
| Morgan Stanley | Erin Wright | $379 | $294.21 | +40.1% | Jan 31, 2025 |
| RBC Capital | Ben Hendrix | $355 | $294.21 | +31.2% | Jan 31, 2025 |
| Piper Sandler | Jessica Tassan | $400 | $338.8 | +47.9% | Jun 25, 2024 |
| Robert W. Baird | Michael Ha | $388 | $332.92 | +43.4% | May 29, 2024 |
| Jefferies | David Windley | $407 | $341.5 | +50.4% | May 6, 2024 |
| Oppenheimer | Michael Wiederhorn | $400 | $344.5 | +47.9% | May 3, 2024 |
| Raymond James | Sarah James | $400 | $344.5 | +47.9% | May 3, 2024 |
| RBC Capital | Ben Hendrix | $384 | $344.5 | +41.9% | May 3, 2024 |
| RBC Capital | Ben Hendrix | $354 | $324.06 | +30.9% | Feb 5, 2024 |
| Deutsche Bank | George Hill | $370 | $307.32 | +36.8% | Feb 1, 2024 |
| Leerink Partners | Analyst unavailable | $335 | $289 | +23.8% | Feb 8, 2023 |
| Raymond James | Analyst unavailable | $350 | $288.44 | +29.4% | Feb 7, 2023 |
| Stephens | Analyst unavailable | $370 | $289.12 | +36.8% | Feb 6, 2023 |
| Morgan Stanley | Analyst unavailable | $365 | $301.95 | +34.9% | Jan 6, 2023 |
| Morgan Stanley | Analyst unavailable | $347 | $320.9 | +28.3% | Nov 23, 2022 |
| Raymond James | John Ransom | $370 | $322.13 | +36.8% | Nov 6, 2022 |
| Truist Financial | David MacDonald | $330 | $272.63 | +22.0% | Jul 26, 2022 |
| Jefferies | David Windley | $271 | $273.75 | +0.2% | Jul 14, 2022 |
| Morgan Stanley | Ricky Goldwasser | $296 | $257.6 | +9.4% | Jun 22, 2022 |
| Deutsche Bank | George Hill | $284 | $244.52 | +5.0% | Jun 18, 2022 |
| Mizuho Securities | Ann Hynes | $291 | $263.98 | +7.6% | May 9, 2022 |
| Stephens | Analyst unavailable | $290 | $265.6 | +7.2% | Apr 20, 2022 |
| Truist Financial | David MacDonald | $290 | $254.12 | +7.2% | Apr 11, 2022 |
| Mizuho Securities | Ann Hynes | $266 | $240.51 | -1.7% | Mar 2, 2022 |
| Wells Fargo | Steve Baxter | $278 | $226.47 | +2.8% | Jan 6, 2022 |
| J.P. Morgan | Lisa Gill | $248 | $219.2 | -8.3% | Dec 21, 2021 |
| Goldman Sachs | Nathan Rich | $233 | $215.6 | -13.9% | Dec 14, 2021 |
| UBS | Kevin Caliendo | $244 | $216.63 | -9.8% | Nov 18, 2021 |
| Credit Suisse | A.J. Rice | $300 | $216.05 | +10.9% | Nov 8, 2021 |
| Evercore ISI | Michael Newshel | $230 | $211.09 | -15.0% | Nov 4, 2021 |
| Bank of America Securities | Kevin Fischbeck | $225 | $202.71 | -16.8% | Sep 10, 2021 |
| Cowen & Co. | Gary Taylor | $235 | $211.88 | -13.1% | Sep 9, 2021 |
| Raymond James | John Ransom | $275 | $208.14 | +1.7% | Aug 9, 2021 |
| Stephens | Scott Fidel | $270 | $206.32 | -0.2% | Aug 6, 2021 |
| Barclays | Steven Valiquette | $275 | $206.32 | +1.7% | Aug 6, 2021 |
| Oppenheimer | Michael Wiederhorn | $285 | $206.32 | +5.3% | Aug 6, 2021 |
| Cantor Fitzgerald | Steven Halper | $250 | $203.27 | -7.6% | Aug 5, 2021 |
| Wolfe Research | Justin Lake | $294 | $244.85 | +8.7% | Apr 26, 2021 |
Track every rating change on CI the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationCigna Group, established in 1792 and headquartered in Bloomfield, Connecticut, provides insurance products and related services across the United States. The company operates through two primary segments. Its Evernorth division offers a comprehensive array of coordinated and specialized health solutions, including pharmacy services, benefits administration, care management and delivery, and advanced intelligence solutions. These offerings cater to a diverse clientele, such as health plans, employers, government entities, and healthcare providers.…
Historical context
All CI earningsHealthcare peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| COO The Cooper Companies, Inc. | FY2026 Q3 · Calendar Q3 2026 | +2.7% | -14.7% | CooperCompanies beats expectations as inventory reduction weighs on vision revenue |
| MDT Medtronic plc | FY2027 Q1 · Calendar Q3 2026 | +4.3% | +1.5% | Medtronic raises FY27 outlook as growth broadens across platforms |
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Get the CI recap when the next report posts
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:55.686058+00:00
- Polygon adjusted daily market bars · 2026-10-04T05:20:42.054007+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-04T05:20:42.051028+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-04. For educational purposes only; not investment advice.