Express Scripts Holding Co. (NASDAQ:ESRX)‘s stock had its “outperform” rating restated by investment analysts at Credit Suisse Group AG in a research note issued on Monday. They presently have a $85.00 price objective on the stock. Credit Suisse Group AG’s target price would suggest a potential upside of 21.58% from the stock’s previous close.
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.””
Several other research analysts also recently weighed in on ESRX. Morgan Stanley downgraded Express Scripts Holding from an “equal weight” rating to an “underweight” rating and upped their target price for the stock from $67.00 to $70.00 in a research note on Monday, June 20th. Cowen and Company reaffirmed a “positive” rating and set a $83.00 target price on shares of Express Scripts Holding in a research note on Wednesday, June 15th. Zacks Investment Research downgraded Express Scripts Holding from a “buy” rating to a “hold” rating in a research note on Tuesday, July 19th. Bank of America Corp. reaffirmed a “neutral” rating and set a $82.00 target price on shares of Express Scripts Holding in a research note on Tuesday, June 7th. Finally, Leerink Swann reaffirmed a “market perform” rating and set a $80.00 target price on shares of Express Scripts Holding in a research note on Thursday, September 1st. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $82.05.
Express Scripts Holding (NASDAQ:ESRX) opened at 69.91 on Monday. The firm’s 50-day moving average is $72.31 and its 200 day moving average is $73.75. Express Scripts Holding has a 1-year low of $65.55 and a 1-year high of $89.20. The stock has a market capitalization of $44.06 billion, a price-to-earnings ratio of 17.27 and a beta of 1.16.
Express Scripts Holding (NASDAQ:ESRX) last released its quarterly earnings data on Monday, July 25th. The company reported $1.57 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.57. Express Scripts Holding had a return on equity of 23.98% and a net margin of 2.64%. The business had revenue of $25.20 billion for the quarter, compared to analyst estimates of $25.42 billion. During the same quarter in the prior year, the firm posted $1.44 EPS. The business’s quarterly revenue was down .9% compared to the same quarter last year. Equities analysts anticipate that Express Scripts Holding will post $6.36 EPS for the current fiscal year.
In other news, Director Woodrow A. Myers, Jr. sold 12,036 shares of the stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $70.40, for a total transaction of $847,334.40. Following the completion of the transaction, the director now directly 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 is accessible through the SEC website. Also, VP Christopher A. Mcginnis sold 1,785 shares of the stock in a transaction on Monday, September 12th. The stock was sold at an average price of $70.77, for a total value of $126,324.45. Following the transaction, the vice president now owns 4,955 shares of the company’s stock, valued at $350,665.35. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC boosted its position in 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 in the last quarter. BlackRock Fund Advisors boosted its position in 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 in the last quarter. Massachusetts Financial Services Co. MA boosted its position in 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 in the last quarter. Boston Partners boosted its position in 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 in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in 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 in the last quarter. Institutional investors and hedge funds own 88.52% of the company’s stock.
About Express Scripts Holding
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).
Receive News & Ratings for Express Scripts Holding Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Express Scripts Holding Co. and related companies with MarketBeat.com's FREE daily email newsletter.