What’s Next for Aetna Inc. (AET) After Forming Bullish Double Top Chart Pattern?

June 28, 2018 - By Peter Erickson

Aetna Inc. (NYSE:AET) Logo

Investors sentiment decreased to 0.68 in 2018 Q1. Its down 0.15, from 0.83 in 2017Q4. It turned negative, as 83 investors sold Aetna Inc. shares while 335 reduced holdings. 78 funds opened positions while 208 raised stakes. 269.52 million shares or 2.24% less from 275.71 million shares in 2017Q4 were reported.
Eaton Vance Management holds 982,740 shares. 3.66M were reported by Dimensional Fund Advisors Limited Partnership. 776,260 were reported by Carlson Cap L P. The California-based Churchill has invested 0.08% in Aetna Inc. (NYSE:AET). Cullen Frost Bankers invested in 0.01% or 2,144 shares. Pentwater Cap Management Lp holds 5.77% or 4.84 million shares. Greenwich Wealth Mgmt Lc holds 0.73% or 27,517 shares. Prudential Public Ltd Com accumulated 0% or 2,032 shares. Virginia Retirement Et Al reported 75,702 shares. Tudor Inv Corp Et Al has invested 0.85% of its portfolio in Aetna Inc. (NYSE:AET). Cornerstone Advsr holds 20,000 shares. Jefferies Group accumulated 158,141 shares or 1.89% of the stock. First Commonwealth Financial Corporation Pa invested in 2,739 shares or 0.49% of the stock. Moab Cap Ptnrs Limited Liability Corp has 4.4% invested in Aetna Inc. (NYSE:AET). Caisse De Depot Et Placement Du Quebec accumulated 192,481 shares.

The chart of Aetna Inc. (AET) shows a double top with $198.70 target or 8.00 % above today’s $183.98 share price. The 8 months chart pattern indicates low risk for the $60.18B company. It was reported on Jun, 28 by Finviz.com. If the $198.70 price target is reached, the company will be worth $4.81B more. Double tops are rare but powerful chart patterns.

The stock decreased 2.56% or $4.84 during the last trading session, reaching $183.98. About 831,622 shares traded. Aetna Inc. (NYSE:AET) has risen 22.94% since June 28, 2017 and is uptrending. It has outperformed by 10.37% the S&P500.

Analysts await Aetna Inc. (NYSE:AET) to report earnings on August, 2. They expect $3.12 earnings per share, down 8.77 % or $0.30 from last year’s $3.42 per share. AET’s profit will be $1.02B for 14.74 P/E if the $3.12 EPS becomes a reality. After $3.19 actual earnings per share reported by Aetna Inc. for the previous quarter, Wall Street now forecasts -2.19 % negative EPS growth.

Aetna Inc. (NYSE:AET) Ratings Coverage

Among 8 analysts covering Aetna (NYSE:AET), 5 have Buy rating, 0 Sell and 3 Hold. Therefore 63% are positive. Aetna had 13 analyst reports since January 3, 2018 according to SRatingsIntel. Piper Jaffray maintained Aetna Inc. (NYSE:AET) on Tuesday, January 30 with “Buy” rating. The company was maintained on Thursday, April 12 by Jefferies. The stock of Aetna Inc. (NYSE:AET) has “Buy” rating given on Monday, January 22 by Deutsche Bank. As per Monday, May 14, the company rating was maintained by Credit Suisse. The company was maintained on Friday, January 12 by Jefferies. The rating was downgraded by Citigroup on Wednesday, January 31 to “Hold”. The stock has “Buy” rating by Cantor Fitzgerald on Monday, June 11. The stock of Aetna Inc. (NYSE:AET) earned “Buy” rating by Cowen & Co on Tuesday, January 30. Jefferies maintained the stock with “Hold” rating in Tuesday, January 30 report. The rating was maintained by Credit Suisse on Wednesday, January 31 with “Hold”.

More notable recent Aetna Inc. (NYSE:AET) news were published by: Streetinsider.com which released: “AMA Comes Out Against CVS Health (CVS)/Aetna (AET) Merger” on June 19, 2018, also Fool.com with their article: “6 Top Healthcare Trends You Can’t Afford to Ignore” published on June 27, 2018, Streetinsider.com published: “Aetna (AET) Says it Won Contract for Kansas Medicaid Program” on June 22, 2018. More interesting news about Aetna Inc. (NYSE:AET) were released by: Seekingalpha.com and their article: “CVS And Aetna Are Changing The Healthcare Paradigm” published on June 18, 2018 as well as Seekingalpha.com‘s news article titled: “Here Comes The Next Biotech Revolution” with publication date: June 26, 2018.

Aetna Inc. operates as a health care benefits firm in the United States. The company has market cap of $60.18 billion. It operates through three divisions: Health Care, Group Insurance, and Large Case Pensions. It has a 17.46 P/E ratio. The Health Care segment offers medical, pharmacy benefit management service, dental, behavioral health, and vision plans on an insured and employer-funded basis.

Aetna Inc. (NYSE:AET) Ratings Chart

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