Brown Advisory Inc. decreased its position in shares of Express Scripts Holding (NASDAQ:ESRX) by 87.2% during the 4th quarter, HoldingsChannel reports. The fund owned 162,224 shares of the company’s stock after selling 1,103,306 shares during the period. Brown Advisory Inc.’s holdings in Express Scripts were worth $12,109,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in ESRX. Fox Run Management L.L.C. purchased a new stake in shares of Express Scripts during the 3rd quarter worth approximately $456,000. First Trust Advisors LP lifted its stake in Express Scripts by 6.3% in the 3rd quarter. First Trust Advisors LP now owns 753,774 shares of the company’s stock valued at $47,729,000 after buying an additional 44,819 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in Express Scripts in the 3rd quarter valued at approximately $3,166,000. Meyer Handelman Co. lifted its stake in Express Scripts by 22.3% in the 3rd quarter. Meyer Handelman Co. now owns 15,412 shares of the company’s stock valued at $976,000 after buying an additional 2,812 shares in the last quarter. Finally, Parsec Financial Management Inc. purchased a new stake in Express Scripts in the 3rd quarter valued at approximately $993,000. 86.45% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms recently issued reports on ESRX. BidaskClub raised Express Scripts from a “hold” rating to a “buy” rating in a research note on Friday. Zacks Investment Research raised Express Scripts from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a research note on Wednesday, February 14th. Royal Bank of Canada raised Express Scripts from a “sector perform” rating to an “outperform” rating and set a $68.00 target price on the stock in a research note on Wednesday, January 31st. Sanford C. Bernstein lowered Express Scripts from a “market perform” rating to an “underperform” rating and upped their target price for the company from $55.80 to $77.50 in a research note on Tuesday, January 30th. Finally, Mizuho set a $86.00 target price on Express Scripts and gave the company a “hold” rating in a research note on Wednesday, January 24th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Express Scripts presently has an average rating of “Hold” and an average price target of $78.93.
Express Scripts announced that its board has approved a share repurchase program on Monday, December 18th that permits the company to buyback 45,000,000 shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
In other Express Scripts news, VP Christine Houston sold 10,104 shares of the business’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $70.08, for a total value of $708,088.32. Following the completion of the transaction, the vice president now directly owns 87,400 shares in the company, valued at approximately $6,124,992. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Glen D. Stettin sold 3,449 shares of the business’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $81.00, for a total value of $279,369.00. Following the completion of the transaction, the vice president now owns 33,715 shares of the company’s stock, valued at $2,730,915. The disclosure for this sale can be found here. Insiders sold a total of 17,001 shares of company stock valued at $1,249,505 over the last quarter. 0.68% of the stock is currently owned by insiders.
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Express Scripts 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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