Company Update (NYSE:AET): Aetna and Abington Medical Specialists Cardiology Group Sign Five-Year Agreement

[Business Wire] – Aetna and Abington Medical Specialists/AMS Cardiology announced that they have reached agreement on a new five-year contract that will take effect March 15, 2016. Read more on this. Aetna Inc. (AET) , valued at $38.31B, began trading this morning at $110.01. During today’s session, AET traded between $109.51 to $110.47 with a trailing 52-week range being $87.25 to $134.40. AET shares are currently priced at 14.60x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 14.03x earnings multiple. The company pays shareholders $1.00 per share in dividend income per year, for a current yield of 0.92%. According to a consensus of 20 analysts, the earnings estimate of $1.21 per share would be $0.01 worse than the year-ago quarter and a $0.12 sequential decrease. The full-year EPS estimate is $7.54 which would be a $0.84 improvement than last year’s full-year earnings. The quarterly earnings estimate is predicated on a consensus revenue forecast of $14.95 Billion. If reported, that would be a 1.22% increase over the year-ago quarter. In terms of ratings, BofA/Merrill upgraded AET from Neutral to Buy (Jul 30, 2015). Previously, FBR Capital downgraded AET from Outperform to Mkt Perform. Given all the information above, we should disclose to readers that the average price target is $139.47, which is 26.78% above than it opened this morning. See more in (NYSE:AET) Similar Articles: Company Update (NYSE:AET): Aetna, OHC Form Oncology Medical Home in Cincinnati and Northern Kentucky Market Update: Aetna Inc (NYSE:AET) – Aetna Reaches Pay-for-Performance Agreement with Regional Women Health Group Company Update (NYSE:AET): Aetna Signs Accountable Care Arrangements with Mercy Health System, St. Mary Medical Center