The Cigna Group announced it is not pursuing a combination with peer Humana Inc., clarifying its strategic direction amidst recent market speculation. The company stated its commitment to established M&A criteria, which require acquisitions to be strategically aligned, financially attractive, and possess a high probability to close.
Concurrently, Cigna reaffirmed its projected full-year 2024 consolidated adjusted income from operations of at least $28.40 per share and an adjusted EPS growth of at least 10% in 2025. This financial outlook underscores confidence in the company's existing business model and growth platforms.
Cigna also reiterated its disciplined capital deployment strategy, including significant share repurchases. Year-to-date, the company repurchased $6 billion of stock, with $1 billion in the fourth quarter, and plans to use the majority of proceeds from the upcoming Medicare divestiture for further share repurchases, with $5.3 billion remaining on its authorization.
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