Aetna Shares Rocket Higher After Beating Wall Street Forecast
Shares of health insurer Aetna Inc. (NYSE:AET) rose more than 4% on Tuesday after the firm said strong results so far in the third quarter will enable it to beat street earnings estimates of $4.66 a share.
Shares trade close to $40.26, up over 4.5%. The company trades at a P/E ratio of about 8.7 which is lower than its peers. The company also trades at a sales multiple of 0.42 which is lower than its industry.
On the technical front shares trade at their declining 50 day and above their rising 200 day moving averages. The MACD is bullish while RSI is pointing up at about 56.
Health Insurance Competitors to Watch: CIGNA Corporation (NYSE:CI), Humana Inc. (NYSE:HUM), WellPoint, Inc. (NYSE:WLP), UnitedHealth Group Inc. (NYSE:UNH), Health Net, Inc. (NYSE:HNT), Universal American Corp. (NYSE:UAM), HealthSpring, Inc (NYSE:HS), Molina Healthcare, Inc. (NYSE:MOH), Coventry Health Care, Inc. (NYSE:CVH), and WellCare Health Plans, Inc. (NYSE:WCG).