Credit Suisse Group AG Reaffirms Outperform Rating for Express Scripts Holding Co. (ESRX)
Express Scripts Holding Co. (NASDAQ:ESRX)‘s stock had its “outperform” rating reissued by equities researchers at Credit Suisse Group AG in a report released on Monday. They presently have a $85.00 price objective on the stock. Credit Suisse Group AG’s price objective would indicate a potential upside of 21.50% from the company’s current price.
The analysts wrote, “We continue to believe ESRX will seek to buy Rite Aid’s PBM unit from Walgreens if the deal closes successfully and possibly add its generic purchasing clout to Walgreen’s buying consortium for added economics. Derivatives: At a time when hapless politicians are wringing their wrists about out of control drug costs, we cite another example of a large government payor tapping PBM solutions for greater savings. As opposed to Anthem, TRICARE utilizes a number of ESRX’s cost management tools in addition to a preferred pharmacy network to better manage its trend. We see the PBM model as more rather than less relevant to the current situation, and we see longer-term enhanced roles for PBMs in Medicare part D and B. Separately, we see AmerisourceBergen as benefiting from the news as Walgreen’s supplier, while Cardinal Health stand to lose some share as CVS’s partner.””
A number of other brokerages have also recently commented on ESRX. Zacks Investment Research cut Express Scripts Holding from a “buy” rating to a “hold” rating in a report on Tuesday, July 19th. Barclays PLC raised their price target on Express Scripts Holding from $85.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 27th. Jefferies Group decreased their price target on Express Scripts Holding from $98.00 to $88.00 and set a “buy” rating for the company in a research note on Tuesday, July 26th. Mizuho raised their price target on Express Scripts Holding from $77.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 2nd. Finally, Bank of America Corp. reissued a “neutral” rating and set a $82.00 price target on shares of Express Scripts Holding in a research note on Tuesday, June 7th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $82.05.
Express Scripts Holding (NASDAQ:ESRX) traded up 0.39% during midday trading on Monday, hitting $70.23. The stock had a trading volume of 472,077 shares. The stock has a market cap of $44.26 billion, a PE ratio of 17.35 and a beta of 1.16. The company’s 50 day moving average price is $72.51 and its 200-day moving average price is $73.75. Express Scripts Holding has a 52-week low of $65.55 and a 52-week high of $89.20.
Express Scripts Holding (NASDAQ:ESRX) last announced its earnings results on Monday, July 25th. The company reported $1.57 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.57. The firm earned $25.20 billion during the quarter, compared to analysts’ expectations of $25.42 billion. Express Scripts Holding had a return on equity of 23.98% and a net margin of 2.64%. The company’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.44 EPS. Analysts forecast that Express Scripts Holding will post $6.36 EPS for the current fiscal year.
In other Express Scripts Holding news, Director Woodrow A. Myers, Jr. sold 12,036 shares of the business’s stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $70.40, for a total transaction of $847,334.40. Following the sale, the director now owns 14,918 shares in the company, valued at approximately $1,050,227.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Christopher A. Mcginnis sold 1,785 shares of the business’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $70.77, for a total value of $126,324.45. Following the sale, the vice president now owns 4,955 shares in the company, valued at approximately $350,665.35. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.
Several hedge funds have recently modified their holdings of ESRX. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Express Scripts Holding by 49.9% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,646,371 shares of the company’s stock worth $1,110,195,000 after buying an additional 4,874,043 shares during the last quarter. BlackRock Fund Advisors increased its stake in shares of Express Scripts Holding by 1.3% in the first quarter. BlackRock Fund Advisors now owns 9,508,996 shares of the company’s stock worth $653,173,000 after buying an additional 121,543 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Express Scripts Holding by 7.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,768,039 shares of the company’s stock worth $588,818,000 after buying an additional 547,365 shares during the last quarter. Boston Partners increased its stake in shares of Express Scripts Holding by 16.5% in the second quarter. Boston Partners now owns 7,063,742 shares of the company’s stock worth $535,432,000 after buying an additional 998,544 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Express Scripts Holding by 19.5% in the second quarter. Ameriprise Financial Inc. now owns 6,278,887 shares of the company’s stock worth $475,934,000 after buying an additional 1,025,739 shares during the last quarter. Hedge funds and other institutional investors own 88.52% of the company’s stock.
Express Scripts Holding Company Profile
Express Scripts, Inc is a pharmacy benefit management (PBM) company in North America, offering a range of services to its clients, which include health insurers, third-party administrators, employers, union-sponsored benefit plans, workers’ compensation plans and government health programs. It operates in two segments: PBM and Emerging Markets (EM).
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