5 Stocks that Beat Earnings Estimates

4. Cigna Corporation (NYSE: CI)

Number of Hedge Fund Holders: 53

Leading health insurer Cigna recently announced better-than-expected financial results for the second quarter. The company reported earnings of $4.25 per share for the three months ended June 30, compared to $4.73 per share in the same period last year. Excluding certain items, the adjusted earnings of $5.24 per share were above the consensus forecast of $4.96 per share.

Revenue increased 10 percent on a year-over-year basis to $43.13 billion, ahead of analysts’ average estimate of $28.53 billion. Pharmacy revenue in the quarter jumped over 13 percent to $30.05 billion, beating the estimates of $28.53 billion. If we look at Cigna’s consumer base, pharmacy customers rose 5 percent to 101.93 million.

Commenting on the quarter, CEO David Cordani said, “Our more than 70,000 employees continue rising to the moment, delivering for our customers, patients, and clients during a period of ongoing uncertainty around the world. Our second quarter results were solid, as we continue to drive our business forward and invest to fuel our sustained long-term growth.”

Cigna also raised its sales outlook for 2021. It expects to report a minimum revenue of $170 billion for the full year, compared to its earlier forecast of at least $166 billion.