Wedgewood Partners Inc. cut its holdings in Express Scripts Holding (NASDAQ:ESRX) by 13.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 40,400 shares of the company’s stock after selling 6,500 shares during the period. Express Scripts makes up about 0.1% of Wedgewood Partners Inc.’s portfolio, making the stock its 22nd largest holding. Wedgewood Partners Inc.’s holdings in Express Scripts were worth $3,015,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of ESRX. Teachers Retirement System of The State of Kentucky boosted its stake in Express Scripts by 264.4% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 240,151 shares of the company’s stock valued at $17,925,000 after purchasing an additional 174,250 shares during the period. California State Teachers Retirement System boosted its stake in Express Scripts by 6.5% during the 4th quarter. California State Teachers Retirement System now owns 1,112,314 shares of the company’s stock valued at $83,023,000 after purchasing an additional 67,674 shares during the period. Two Sigma Securities LLC acquired a new position in Express Scripts during the 4th quarter valued at about $406,000. Two Sigma Investments LP boosted its stake in Express Scripts by 17,710.3% during the 4th quarter. Two Sigma Investments LP now owns 704,412 shares of the company’s stock valued at $52,577,000 after purchasing an additional 708,412 shares during the period. Finally, Two Sigma Advisers LP boosted its stake in Express Scripts by 143.4% during the 4th quarter. Two Sigma Advisers LP now owns 1,782,736 shares of the company’s stock valued at $133,063,000 after purchasing an additional 1,050,400 shares during the period. 89.08% of the stock is owned by institutional investors and hedge funds.
Express Scripts Holding (NASDAQ:ESRX) traded down $1.14 during mid-day trading on Monday, hitting $79.61. 976,960 shares of the company’s stock were exchanged, compared to its average volume of 5,082,821. Express Scripts Holding has a one year low of $55.80 and a one year high of $85.07. The company has a market cap of $45,319.88, a P/E ratio of 10.31, a price-to-earnings-growth ratio of 0.99 and a beta of 0.94. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.67 and a quick ratio of 0.55.
Express Scripts announced that its board has approved a share repurchase program on Monday, December 18th that allows the company to repurchase 45,000,000 outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
In related news, VP Everett Neville sold 4,895 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $75.26, for a total value of $368,397.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Glen D. Stettin sold 3,448 shares of the business’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 have sold a total of 21,896 shares of company stock worth $1,617,903 over the last 90 days. 0.68% of the stock is owned by insiders.
A number of research firms have issued reports on ESRX. Mizuho set a $86.00 target price on shares of Express Scripts and gave the company a “hold” rating in a research note on Wednesday, January 24th. Maxim Group lowered shares of Express Scripts from a “buy” rating to a “hold” rating in a research note on Thursday. Jefferies Group lowered shares of Express Scripts from a “buy” rating to a “hold” rating and set a $91.00 target price for the company. in a research note on Thursday. Sanford C. Bernstein raised shares of Express Scripts from an “underperform” rating to a “market perform” rating in a research note on Monday. Finally, SunTrust Banks reissued a “buy” rating and set a $95.00 target price on shares of Express Scripts in a research note on Friday, January 12th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company’s stock. Express Scripts presently has a consensus rating of “Hold” and a consensus price target of $81.97.
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Express Scripts 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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