Market Update: Aetna Inc (NYSE:AET) – CoventryCares Medicaid Plan Changes Name to Aetna Better Health of Virginia

[Business Wire] – CoventryCares of Virginia, a state-contracted Medicaid managed health care plan, is changing its name to Aetna Better Health of Virginia, effective April 1, 2016. The change is the result of the acquisition of Coventry Health Care of Virginia Inc. Read more on this. Aetna Inc. (AET) , with a current value of $39.41B, started trading this morning at $112.50. During the trading session, AET traded between $111.88 to $113.03 with its 52-week range being $92.42 to $134.40. Priced at 14.14x this year’s forecasted earnings, AET shares are relatively inexpensive compared to the industry’s 14.81x forward p/e ratio. The company pays shareholders $1.00 per share annually in dividends, yielding 0.89%. According to a consensus of 21 analysts, the earnings estimate of $2.23 per share would be $0.16 worse than the year-ago quarter and a $0.16 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $7.95 is a $0.24 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $15.46 Billion. If reported, that would be a 2.45% increase over the year-ago quarter. More recently, Jefferies downgraded AET from Buy to Hold (Jan 8, 2016). Previously, Cantor Fitzgerald upgraded AET from Hold to Buy. When considering if the stock is under or overvalued, the average price target is $133.50, which is 18.67% above where the stock opened this morning. See more in (NYSE:AET) Similar Articles: Market Update (NYSE:AET): Meritain Health Enters Accountable Care Collaboration with Banner Health Network and Aetna Whole Health Market Update: Aetna Inc (NYSE:AET) – Aetna and Mount Sinai Health Partners Create Accountable Care Organization Alliance Market Update: Aetna Inc (NYSE:AET) – Aetna Reaches Pay-for-Performance Agreement with Regional Women Health Group