Q2 2018 Earnings Forecast for Express Scripts Holding Issued By Leerink Swann (ESRX)
Express Scripts Holding (NASDAQ:ESRX) – Equities research analysts at Leerink Swann upped their Q2 2018 earnings per share estimates for Express Scripts in a report issued on Wednesday. Leerink Swann analyst D. Larsen now forecasts that the company will earn $2.33 per share for the quarter, up from their prior estimate of $2.31. Leerink Swann also issued estimates for Express Scripts’ Q3 2018 earnings at $2.47 EPS, Q4 2018 earnings at $2.80 EPS, FY2018 earnings at $9.35 EPS and FY2019 earnings at $10.35 EPS.
Several other equities research analysts have also recently issued reports on ESRX. Deutsche Bank started coverage on shares of Express Scripts in a research report on Monday, December 4th. They issued a “buy” rating and a $75.00 price objective for the company. ValuEngine raised shares of Express Scripts from a “hold” rating to a “buy” rating in a research report on Monday, December 4th. TheStreet raised shares of Express Scripts from a “c+” rating to a “b-” rating in a research report on Monday, December 4th. Sanford C. Bernstein raised shares of Express Scripts from an “underperform” rating to a “market perform” rating in a research report on Wednesday, December 6th. Finally, BidaskClub raised shares of Express Scripts from a “hold” rating to a “buy” rating in a research report on Thursday, December 14th. Six investment analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $80.49.
Express Scripts (NASDAQ:ESRX) last released its quarterly earnings data on Tuesday, February 27th. The company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.07. The company had revenue of $25.38 billion during the quarter, compared to analysts’ expectations of $25.07 billion. Express Scripts had a net margin of 4.51% and a return on equity of 25.19%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.88 EPS.
Institutional investors and hedge funds have recently made changes to their positions in the company. Fairfield Bush & CO. purchased a new stake in Express Scripts during the fourth quarter valued at approximately $226,000. Xact Kapitalforvaltning AB lifted its position in Express Scripts by 5.2% during the fourth quarter. Xact Kapitalforvaltning AB now owns 102,730 shares of the company’s stock valued at $7,668,000 after acquiring an additional 5,123 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in Express Scripts by 52.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 179,586 shares of the company’s stock valued at $13,404,000 after acquiring an additional 61,657 shares during the last quarter. CNB Bank purchased a new stake in Express Scripts during the fourth quarter valued at approximately $326,000. Finally, Hikari Tsushin Inc. purchased a new stake in Express Scripts during the fourth quarter valued at approximately $1,344,000. 86.45% of the stock is owned by hedge funds and other institutional investors.
In other news, VP Christine Houston sold 10,104 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $70.08, for a total value of $708,088.32. Following the completion of the sale, the vice president now owns 87,400 shares of the company’s stock, valued at approximately $6,124,992. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 disclosure for this sale can be found here. Insiders sold a total of 21,896 shares of company stock valued at $1,617,903 in the last ninety days. Corporate insiders own 0.68% of the company’s stock.
Express Scripts announced that its board has approved a share buyback plan on Monday, December 18th that permits the company to buyback 45,000,000 shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
About Express Scripts
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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