Express Scripts Holding Co. (NASDAQ:ESRX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm presently has a $78.00 price objective on the stock. Zacks Investment Research’s price target indicates a potential upside of 11.57% from the company’s current price.
According to Zacks, “Express Scripts stands to benefit from increased generic utilization, shift toward mail orders, strong specialty growth and an aging population. It is focused on the development of both specialty drugs and generics, which are expected to account for 50% of the total drug spend by 2018. The company’s SafeGuardRx suite of products is designed to better manage specialty spend, establishing a higher standard for patient outcomes. Demand for the company’s services continues to be solid, leading to an increase in expected client retention rates to the 96–98% band in 2017. Growth in the second half of 2016 should primarily be driven by higher utilization of the company’s cost savings programs along with generic launches. Estimates have remained mostly stable ahead of the company’s Q3 earnings release. The company has a mixed record of earnings surprises in recent quarters.”
ESRX has been the topic of several other reports. Sanford C. Bernstein restated an “underperform” rating and set a $68.00 price target on shares of Express Scripts Holding in a research report on Tuesday, September 6th. Credit Suisse Group AG restated an “outperform” rating and set a $85.00 price target on shares of Express Scripts Holding in a research report on Monday. 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 report on Tuesday, August 2nd. Cowen and Company restated a “positive” rating and set a $83.00 price target on shares of Express Scripts Holding in a research report on Wednesday, June 15th. Finally, Morgan Stanley lowered Express Scripts Holding from an “equal weight” rating to an “underweight” rating and raised their price target for the stock from $67.00 to $70.00 in a research report on Monday, June 20th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $81.53.
Express Scripts Holding (NASDAQ:ESRX) opened at 69.91 on Wednesday. Express Scripts Holding has a 1-year low of $65.55 and a 1-year high of $89.20. The firm has a market capitalization of $44.06 billion, a price-to-earnings ratio of 17.27 and a beta of 1.16. The company has a 50 day moving average price of $72.31 and a 200-day moving average price of $73.75.
Express Scripts Holding (NASDAQ:ESRX) last posted its quarterly earnings results on Monday, July 25th. The company reported $1.57 earnings per share (EPS) for the quarter, hitting the 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 period last year, the company earned $1.44 EPS. Express Scripts Holding’s revenue for the quarter was down .9% compared to the same quarter last year. On average, analysts forecast that Express Scripts Holding will post $6.36 EPS for the current fiscal year.
In other Express Scripts Holding news, VP Christopher A. Mcginnis sold 1,785 shares of Express Scripts Holding 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 completion of the sale, the vice president now owns 4,955 shares of the company’s stock, valued at approximately $350,665.35. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Woodrow A. Myers, Jr. sold 12,036 shares of Express Scripts Holding stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $70.40, for a total value of $847,334.40. Following the completion of the sale, the director now directly owns 14,918 shares of the company’s stock, valued at approximately $1,050,227.20. The disclosure for this sale can be found here. 0.54% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of ESRX. Harel Insurance Investments & Financial Services Ltd. raised its stake in Express Scripts Holding by 20.9% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,503 shares of the company’s stock worth $114,000 after buying an additional 260 shares during the last quarter. Oakworth Capital Inc. raised its stake in shares of Express Scripts Holding by 966.7% in the second quarter. Oakworth Capital Inc. now owns 1,792 shares of the company’s stock valued at $136,000 after buying an additional 1,624 shares during the last quarter. Integrated Wealth Management raised its stake in shares of Express Scripts Holding by 4.2% in the second quarter. Integrated Wealth Management now owns 1,845 shares of the company’s stock valued at $140,000 after buying an additional 74 shares during the last quarter. Tarbox Group Inc. raised its stake in shares of Express Scripts Holding by 5.3% in the second quarter. Tarbox Group Inc. now owns 1,944 shares of the company’s stock valued at $147,000 after buying an additional 98 shares during the last quarter. Finally, Alpha Windward LLC raised its stake in shares of Express Scripts Holding by 30.7% in the second quarter. Alpha Windward LLC now owns 1,988 shares of the company’s stock valued at $151,000 after buying an additional 467 shares during the last quarter. 88.52% of the stock is owned by institutional investors and hedge funds.
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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