Price Don’t Lie: Could Aetna Inc Change Direction After Making Record High?

Price Don't Lie: Could Aetna Inc Change Direction After Making Record High?

The stock of Aetna Inc (NYSE:AET) reached all time high today, Dec, 1 and still has $142.99 target or 6.00% above today’s $134.90 share price. This indicates more upside for the $46.91B company. This technical setup was reported by Barchart.com. If the $142.99 PT is reached, the company will be worth $2.81B more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. The stock increased 3.10% or $4.06 during the last trading session, hitting $134.9. About 4.24 million shares traded hands or 34.60% up from the average. Aetna Inc (NYSE:AET) has risen 14.14% since April 28, 2016 and is uptrending. It has outperformed by 8.22% the S&P500.

Analysts await Aetna Inc (NYSE:AET) to report earnings on January, 31 before the open. They expect $1.45 earnings per share, up 5.84% or $0.08 from last year’s $1.37 per share. AET’s profit will be $504.22 million for 23.26 P/E if the $1.45 EPS becomes a reality. After $2.07 actual earnings per share reported by Aetna Inc for the previous quarter, Wall Street now forecasts -29.95% negative EPS growth.

Aetna Inc (NYSE:AET) Ratings Coverage

Out of 11 analysts covering Aetna (NYSE:AET), 6 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 55% are positive. Aetna has been the topic of 19 analyst reports since July 30, 2015 according to StockzIntelligence Inc. Jefferies downgraded the stock to “Hold” rating in Friday, January 8 report. Bank of America upgraded Aetna Inc (NYSE:AET) on Thursday, July 30 to “Buy” rating. JP Morgan initiated the stock with “Overweight” rating in Wednesday, September 16 report. The firm earned “Neutral” rating on Wednesday, December 16 by Credit Suisse. The stock of Aetna Inc (NYSE:AET) earned “Buy” rating by Sterne Agee CRT on Tuesday, August 4. The firm has “Outperform” rating given on Thursday, June 16 by Bernstein. RBC Capital Markets upgraded it to “Outperform” rating and $162.0 target price in Tuesday, September 8 report. The rating was maintained by RBC Capital Markets on Friday, April 29 with “Outperform”. The firm has “Outperform” rating given on Friday, November 11 by Credit Suisse. Cleveland initiated Aetna Inc (NYSE:AET) on Friday, April 8 with “Neutral” rating.

According to Zacks Investment Research, “Aetna Inc. is one of the nation’s largest health benefits companies and one of the nation’s largest insurance and financial services organizations. Aetna provides these benefits to employer and plan sponsor customers in all 50 states, ranging from large multisite national accounts to middle-market and small-employer groups. Its products include the full range of health insurance, including dental and pharmacy benefits, from HMO and POS to PPO and indemnity, as well as group insurance products such as life, disability and long-term care insurance.”

Insitutional Activity: The institutional sentiment decreased to 0.75 in Q2 2016. Its down 0.08, from 0.83 in 2016Q1. The ratio is negative, as 50 funds sold all Aetna Inc shares owned while 294 reduced positions. 47 funds bought stakes while 238 increased positions. They now own 313.20 million shares or 5.61% less from 331.82 million shares in 2016Q1.
Systematic Fincl Mgmt Lp accumulated 219,499 shares or 0.37% of the stock. Orbimed Advisors Ltd Liability Com owns 116,600 shares or 0.15% of their US portfolio. Putnam Limited Liability last reported 415,687 shares in the company. Vanguard Grp Inc owns 21.25M shares or 0.16% of their US portfolio. The New York-based Atika Limited Liability Corporation has invested 1.99% in Aetna Inc (NYSE:AET). Fincl Advisers Limited Liability Co has 0.04% invested in the company for 29,965 shares. The Massachusetts-based Penobscot Inv Mgmt Inc has invested 0.5% in Aetna Inc (NYSE:AET). Suffolk Limited Liability Co last reported 98,769 shares in the company. Allstate reported 15,758 shares or 0.13% of all its holdings. Burney last reported 1.6% of its portfolio in the stock. Moreover, Diam Limited has 0.4% invested in Aetna Inc (NYSE:AET) for 220,613 shares. Mycio Wealth Prns last reported 463 shares in the company. Whittier Trust Of Nevada holds 0.05% of its portfolio in Aetna Inc (NYSE:AET) for 3,515 shares. Legal And General Group Inc Plc, a United Kingdom-based fund reported 1.67 million shares. Daiwa Sb Investments Ltd last reported 490 shares in the company.

Insider Transactions: Since August 22, 2016, the stock had 0 insider purchases, and 5 selling transactions for $12.76 million net activity. Lynch Karen S also sold $5.38 million worth of Aetna Inc (NYSE:AET) shares. $100,820 worth of shares were sold by Coye Molly Joel on Wednesday, November 9. $1.00M worth of Aetna Inc (NYSE:AET) was sold by SOISTMAN FRANCIS S JR. Another trade for 7,100 shares valued at $827,214 was made by GARTEN JEFFREY E on Wednesday, September 7. GUERTIN SHAWN M had sold 45,328 shares worth $5.45 million on Monday, August 22.

More news for Aetna Inc (NYSE:AET) were recently published by: Forbes.com, which released: “January 2017 Options Now Available For Aetna (AET)” on December 01, 2016. Bizjournals.com‘s article titled: “Aetna calls Obamacare argument in Humana merger case a ‘sideshow'” and published on November 29, 2016 is yet another important article.

AET Company Profile

Aetna Inc., incorporated on December 20, 1982, is a diversified healthcare benefits company. The Firm offers a range of traditional, voluntary and consumer-directed health insurance products and related services, including medical, pharmacy, dental, behavioral health, group life and disability plans, medical management capabilities, Medicaid healthcare management services, Medicare Advantage and Medicare supplement plans, workers’ compensation administrative services and health information technology services and products, such as accountable care solutions (ACS). The Firm operates through three divisions: Health Care, Group Insurance and Large Case Pensions. The Company’s clients include employer groups, individuals, college students, part-time and hourly workers, health plans, healthcare providers (providers), Governmental units, Government-sponsored plans, labor groups and expatriates.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Leave a Comment