Moderna (MRNA) revenue soars 6467%, Cigna (CI) net income falls 16%

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Moderna (MRNA) revenue soars 6467%, Cigna (CI) net income falls 16%

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 Moderna (MRNA) revenue soars 6467%, Cigna (CI) net income falls 16%
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Summary

  • Moderna Inc (NASDAQ: MRNA) and Cigna Corporation (NYSE: CI) declared quarterly results on Thursday; both the stocks were trading lower.
  • Moderna was trading 1.93% down at 9:18 am ET in the pre-market session.
  • Cigna was trading 4.09% lower at 8:36 am ET in the pre-market session on Thursday.

The stocks of Moderna Inc. (NASDAQ: MRNA) and Cigna Corporation (NYSE: CI) were trading lower on Thursday after declaring their quarterly results. 

MRNA stock was priced at US$410.97, down 1.93%, at 9:18 am ET. CI stock was priced at US$222.01, down 4.09%, at 8:36 am ET in the pre-market session on Thursday.

Moderna Inc’s Q2 performance

Its total revenue for the June quarter was US$4.4 billion compared to US$67 million for the same period a year ago. The covid vaccine sales boosted its Q2 revenue.

Its net income was US$2.8 billion compared to a net loss of US$117 million in the prior year’s June quarter. Its diluted earnings per share were US$6.46. 

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The company’s liquidity reserves increased to US$12.2 billion from US$5.2 billion in the December quarter of 2020. Moderna’s research and development expenses rose to US$421 million from US$152 million a year ago. It expects to deliver 800 million to 1 billion doses of COVID-19 vaccine in FY 2021 and 2 billion to 3 billion doses in FY 2022.

Moderna had 1,800 employees as of June 30, 2021, compared to 930 employees in Q2 2020. The S&P 500 added Moderna to the index on July 21, 2021. 

This commercial-stage biotechnology company has a market cap of US$168 billion. The stock gained 453% in one year and closed at US$419.05 on Aug 4, 2021.

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Source: Pixabay

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Q2 stats of Cigna Corporation

The health services company earned revenue of US$43.1 billion. Its adjusted revenue also was US$43.1 billion, a 10% growth year-over-year. Its net income was US$1.47 billion, or US$4.25 per share, compared to US$1.75 billion, or US$4.73 per share, for the second quarter of 2020. The adjusted income from operation was US$1.8 billion for the June quarter of 2021. 

Cigna’s total customers increased by 6.64 million year-over-year to 191 million. Its pharmacy customers totaled 101,929,000, and medical customers were 16,952,000. Other customers from dental, behavioral care, medicare, etc., were 72,230,000. 

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Cigna full-year 2021 guidance for adjusted revenue is expected to be a minimum of US$170 billion. Besides, consolidated adjusted income from operations is expected to be a minimum of US$6.96 billion or US$20.20 per share. 

Cigna has a market cap of US$79 billion, a P/E ratio of 9.95, and a dividend yield of 1.71%. CI stock gained 32% in one year. It closed at US$231.48 on Aug 4, 2021.

Please note: The above constitutes a preliminary view and any interest in stocks/cryptocurrencies should be evaluated further from an investment point of view.

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