Maxim Group lowered shares of Express Scripts (NASDAQ:ESRX) from a buy rating to a hold rating in a research note issued to investors on Thursday, MarketBeat.com reports.
“Cigna Corp (CI – NR) agreed to acquire ESRX for $54B, with per-share consideration of $48.75 in cash and 0.2434 shares of CI stock. CI also agreed to assume roughly $13B of net debt from ESRX.”,” the firm’s analyst commented.
A number of other equities research analysts have also commented on ESRX. Deutsche Bank initiated coverage on Express Scripts in a research report on Monday, December 4th. They issued a buy rating and a $75.00 target price on the stock. ValuEngine upgraded Express Scripts from a hold rating to a buy rating in a research report on Monday, December 4th. TheStreet upgraded Express Scripts from a c+ rating to a b- rating in a research report on Monday, December 4th. Sanford C. Bernstein upgraded Express Scripts from an underperform rating to a market perform rating in a research report on Wednesday, December 6th. Finally, BidaskClub upgraded Express Scripts from a hold rating to a buy rating in a research report on Thursday, December 14th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $81.97.
Express Scripts (NASDAQ:ESRX) last issued its earnings results on Tuesday, February 27th. The company reported $2.16 EPS for the quarter, beating the Zacks’ consensus estimate of $2.09 by $0.07. The firm had revenue of $25.38 billion for the quarter, compared to analyst estimates of $25.07 billion. Express Scripts had a return on equity of 25.19% and a net margin of 4.51%. Express Scripts’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.88 earnings per share. sell-side analysts anticipate that Express Scripts will post 9.35 earnings per share for the current year.
Express Scripts declared that its Board of Directors has authorized a stock buyback program on Monday, December 18th that allows the company to buyback 45,000,000 shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.
In other news, VP Glen D. Stettin sold 3,448 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $76.00, for a total transaction of $262,048.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Christine Houston sold 10,104 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 87,400 shares of the company’s stock, valued at $6,124,992. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,896 shares of company stock valued at $1,617,903. Corporate insiders own 0.68% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Fairfield Bush & CO. acquired a new position in shares of Express Scripts during the 4th quarter worth approximately $226,000. Xact Kapitalforvaltning AB raised its stake in shares of Express Scripts by 5.2% during the 4th quarter. Xact Kapitalforvaltning AB now owns 102,730 shares of the company’s stock worth $7,668,000 after buying an additional 5,123 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Express Scripts by 52.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 179,586 shares of the company’s stock worth $13,404,000 after buying an additional 61,657 shares during the period. CNB Bank acquired a new position in shares of Express Scripts during the 4th quarter worth approximately $326,000. Finally, Hikari Tsushin Inc. acquired a new position in shares of Express Scripts during the 4th quarter worth approximately $1,344,000. 87.70% of the stock is owned by institutional investors and hedge funds.
ILLEGAL ACTIVITY NOTICE: “Express Scripts (ESRX) Downgraded by Maxim Group” was originally reported by Ticker Report and is owned by of Ticker Report. If you are accessing this article on another site, it was stolen and republished in violation of US and international trademark & copyright laws. The original version of this article can be read at https://www.tickerreport.com/banking-finance/3255600/express-scripts-esrx-downgraded-by-maxim-group.html.
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).
Receive News & Ratings for Express Scripts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Express Scripts and related companies with MarketBeat.com's FREE daily email newsletter.