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Anthem will turn to CVS after troubled Express Scripts deal

18 October 2017

"Tough competition in the niche space and the persistent drug pricing issue are anticipated to affect the stock".

Express Scripts said in a statement that Anthem's announcement was "disappointing" and "we know that no other PBM will offer Anthem the combination of savings, member and client stability, and clinical expertise that Express Scripts represents". Baupost Grp Ltd Com Ma accumulated 2.56 million shares or 1.86% of the stock. The dividend payment will be $0.500 per share for the quarter or $2.00 annualized. Royal Bank Of Canada started coverage on shares of Express Scripts Holding in a research note on Tuesday, September 19th. On Thursday, July 30 the stock rating was maintained by RBC Capital Markets with "Outperform". Leerink Swann maintained Express Scripts Holding Company (NASDAQ:ESRX) rating on Monday, October 5.

Express Scripts Holding Company (ESRX) now the company's industry has 12.48 P/E and the sector P/E is 16.82. Pzena Invest Mgmt Ltd Limited Liability Company reported 0.99% of its portfolio in Express Scripts Holding Company (NASDAQ:ESRX). The company's 50 day moving average is $61.90 and its 200-day moving average is $62.41.

The company's P/E ratio is 14.47 and market cap is 73.83B. Express Scripts Holding has a 12 month low of $56.62 and a 12 month high of $77.50. Express Scripts had 37 analyst reports since July 30, 2015 according to SRatingsIntel. The analysts estimated mean EPS at 1.48 while the high and low EPS estimate stand at 1.61 and 1.35 respectively. The company had revenue of $25.35 billion during the quarter, compared to analyst estimates of $25.52 billion. In contrast to the year ago quarter EPS was at 1.59.

Express Scripts Holding Company (NASDAQ:ESRX) appreciated by 0.7% at $57.21, after hitting low of $56.62 in an intra-day trade. If you are viewing this story on another website, it was stolen and republished in violation of United States & worldwide copyright and trademark law.

Express Scripts Holding (NASDAQ:ESRX) last posted its quarterly earnings results on Tuesday, July 25th. Insiders have sold 5,641 shares of company stock worth $357,317 over the last three months. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Seizert Capital Partners Llc increased Net 1 Ueps Technologies Inc Co (NASDAQ:UEPS) stake by 106,193 shares to 380,733 valued at $3.75M in 2017Q2. The disclosure for this sale can be found here.

Tightening the gaze, stock performance for the last 5 trading days is -16.98%. Following the transaction, the vice president now directly owns 10,530 shares of the company's stock, valued at $664,758.90. The shares were sold at an average price of $63.93, for a total value of $249,327.00. Ubs Asset Mngmt Americas invested in 55,558 shares or 0% of the stock. IHT Wealth Management LLC grew its holdings in shares of Express Scripts Holding by 8.1% in the first quarter. Twin Capital Management Inc. now owns 46,560 shares of the company's stock worth $3,069,000 after purchasing an additional 360 shares in the last quarter.

Express Scripts spokesman Brian Henry said the company was disappointed by the move and would continue to work with Anthem through the contract end date and any transition period. Eads & Heald Invest Counsel invested 0.91% of its portfolio in Express Scripts Holding Company (NASDAQ:ESRX). BKS has risen 3.52% in the 1-month period. Hedge funds and other institutional investors own 88.69% of the company's stock.

CVS Health (NYSE:CVS) is up 2% premarket on light volume in response to its announced five-year agreement with Anthem (NYSE:ANTM) to provide services to support the latter's new pharmacy benefit manager (PBM) IngenioRx.