Cigna
Combines pharmacy benefits and specialty care services with employer and international health coverage.
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Profile
Sells pharmacy benefits, specialty-drug distribution, care management, and employer and international health coverage through Evernorth Health Services and Cigna Healthcare. Evernorth generates most revenue and serves third-party health plans, employers, government organizations, and providers alongside the insurance business.
Runs Evernorth Health Services and Cigna Healthcare as complementary health services and benefits businesses. Evernorth houses Express Scripts pharmacy benefits, Accredo specialty pharmacy, eviCore medical benefits management, specialty-drug distribution, behavioral health, and care delivery. It sells these capabilities to health plans, employers, government organizations, and providers beyond the insurance operation.
Provides U.S. employer medical, pharmacy, behavioral, dental, vision, and supplemental benefits through Cigna Healthcare, plus international plans. Operations are overwhelmingly U.S.-based. Combining benefit administration with home delivery and specialty-drug fulfillment, Evernorth generates most revenue. The sale of Medicare insurance and CareAllies narrowed the insurance portfolio, while Evernorth retained Medicare service agreements. Results depend on a major PBM client, medical and drug-cost management, and extensive insurance, pharmacy, ERISA, and PBM regulation.
Company facts
Key statistics
Year to date −0.0% · Average volume (30d) 1.7M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 4, 2026 | Jefferies | Downgrade | Buy | Hold | $330 | $307 |
| Aug 3, 2026 | Raymond James | Downgrade | Strong Buy | Outperform | $340 | $320 |
| Jul 31, 2026 | Robert W. Baird | Target | $337 | $362 | ||
| Jul 31, 2026 | Guggenheim | Reiterate | Buy | $318 | $361 | |
| Jul 31, 2026 | Wells Fargo | Reiterate | Equal Weight | $300 | $307 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 30, 2026Q2 FY26 | $7.60 | $7.78 | +2.4% | $70.14B | $71.67B | +2.2% | −2.97% |
| Apr 30, 2026Q1 FY26 | $7.60 | $7.79 | +2.5% | $66.29B | $68.49B | +3.3% | −2.64% |
| Feb 5, 2026Q4 FY25 | $7.88 | $8.08 | +2.5% | $70.31B | $72.47B | +3.1% | +2.64% |
| Oct 30, 2025Q3 FY25 | $7.64 | $7.83 | +2.5% | $67.58B | $69.75B | +3.2% | −1.09% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $65.50B | $67.23B | $69.75B | $72.47B | $68.49B | $71.67B | |
| Gross profit | $6.61B | $7.89B | $5.94B | $5.55B | $6.47B | $14.97B | |
| Operating income | $1.97B | $2.43B | $2.58B | $2.15B | $2.36B | $2.68B | |
| Net income | $1.32B | $1.53B | $1.87B | $1.23B | $1.65B | $1.66B | |
| Diluted EPS | $4.85 | $5.71 | $6.97 | $4.64 | $6.26 | $6.29 | |
| Gross margin | 10.1% | 11.7% | 8.5% | 7.7% | 9.4% | 20.9% | |
| Operating margin | 3.0% | 3.6% | 3.7% | 3.0% | 3.4% | 3.7% |
Fiscal years (4-quarter sums)FY21 $174.08B · FY22 $180.52B · FY23 $195.27B · FY24 $247.12B · FY25 $274.95B
Revenue by product · Q2 FY26
Revenue by geography · FY24
Balance sheet, Jun 30, 2026Cash & short-term investments $6.30B · Total debt $31.88B · Total assets $157.08B · Shareholders' equity $42.62B
Dividends
Raised for 21 straight years — most recently to $1.56 from $1.51 in Mar 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 4, 2026 | Jun 4 | Jun 18 | $1.56 | |
| Mar 5, 2026 | Mar 5 | Mar 19 | $1.56 | raised from $1.51 |
| Dec 4, 2025 | Dec 4 | Dec 18 | $1.51 | |
| Sep 4, 2025 | Sep 4 | Sep 18 | $1.51 | |
| Jun 3, 2025 | Jun 3 | Jun 18 | $1.51 | |
| Mar 5, 2025 | Mar 5 | Mar 20 | $1.51 | raised from $1.40 |
| Dec 4, 2024 | Dec 4 | Dec 19 | $1.40 | |
| Sep 4, 2024 | Sep 4 | Sep 19 | $1.40 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 264.24M · Float 262.88M · 99.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 23.44M | 8.87% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 17.28M | 6.54% | 13F | Aug 13, 2026 |
| State Street Corp | 12.68M | 4.80% | 13F | Aug 7, 2026 |
| Dodge & Cox | 12.17M | 4.61% | 13F | Aug 13, 2026 |
| Massachusetts Financial Services Co /MA/ | 10.44M | 3.95% | 13F | Aug 3, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 18, 2026 | Nicole S. Jones | officer: See Remarks | −2,677 | $279.61 |
| Aug 4, 2026 | Nicole S. Jones | officer: See Remarks | −19,436 | $276.27 |
| Jun 12, 2026 | Jamie G. Kates | officer: Chief Accounting Officer | −899 | $298.61 |
| May 12, 2026 | David Cordani | director, officer: Chairman & CEO | −201,878 | $292.82 |
| Mar 2, 2026 | Nicole S. Jones | officer: See Remarks | −2,307 | $288.91 |
Peers
- UnitedHealth Group
Largest U.S. health insurer and PBM — rival across both Cigna segments.
- CVS Health
Parallel vertical integrator — Caremark PBM and Aetna rival both Cigna segments.
- Elevance Health
Second-largest commercial insurer; CarelonRx PBM adds adjacent rivalry.
- Humana
Medicare-focused insurer; employer commercial and CenterWell pharmacy overlap.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Cigna | $279.20 | +0.06% | $73.69B | 11.5 | 8.8 | 0.3 | +6.6% |
| UnitedHealth Group | $392.50 | −0.12% | $356.86B | 25.3 | 18.4 | 0.8 | +0.4% |
| CVS Health | $93.07 | +0.02% | $118.74B | 24.6 | 11.5 | 0.3 | +7.3% |
| Elevance Health | $397.30 | +0.72% | $85.54B | 17.5 | 14.5 | 0.4 | +0.1% |
| Humana | $386.23 | +0.16% | $46.30B | 36.5 | 31.2 | 0.3 | +26.2% |
| Median | 24.9 | 16.4 | 0.4 | +3.8% |