Express Scripts Holding Co (ESRX) Position Increased by Abrams Capital Management L.P.

Abrams Capital Management L.P. increased its holdings in shares of Express Scripts Holding Co (NASDAQ:ESRX) by 20.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 3,192,304 shares of the company’s stock after acquiring an additional 539,203 shares during the period. Express Scripts comprises approximately 8.0% of Abrams Capital Management L.P.’s portfolio, making the stock its 5th biggest holding. Abrams Capital Management L.P.’s holdings in Express Scripts were worth $303,301,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in ESRX. American National Registered Investment Advisor Inc. boosted its holdings in shares of Express Scripts by 6.9% in the 3rd quarter. American National Registered Investment Advisor Inc. now owns 7,825 shares of the company’s stock worth $743,000 after purchasing an additional 505 shares during the period. Bank of Stockton lifted its stake in shares of Express Scripts by 5.2% during the 3rd quarter. Bank of Stockton now owns 11,821 shares of the company’s stock worth $1,123,000 after acquiring an additional 581 shares during the last quarter. Busey Trust CO lifted its stake in shares of Express Scripts by 0.5% during the 3rd quarter. Busey Trust CO now owns 114,461 shares of the company’s stock worth $10,874,000 after acquiring an additional 617 shares during the last quarter. Strategic Advisors LLC lifted its stake in shares of Express Scripts by 11.2% during the 3rd quarter. Strategic Advisors LLC now owns 6,201 shares of the company’s stock worth $589,000 after acquiring an additional 623 shares during the last quarter. Finally, Sumitomo Life Insurance Co. lifted its stake in shares of Express Scripts by 4.5% during the 2nd quarter. Sumitomo Life Insurance Co. now owns 15,313 shares of the company’s stock worth $1,182,000 after acquiring an additional 657 shares during the last quarter. Hedge funds and other institutional investors own 83.15% of the company’s stock.

A number of equities research analysts recently issued reports on ESRX shares. Cowen reissued a “buy” rating and set a $88.00 price target on shares of Express Scripts in a research note on Friday, November 2nd. Credit Suisse Group lowered Express Scripts from an “outperform” rating to a “neutral” rating and raised their price target for the stock from $90.00 to $96.50 in a research note on Tuesday, September 18th. BidaskClub raised Express Scripts from a “hold” rating to a “buy” rating in a research note on Tuesday, September 18th. Maxim Group reissued a “hold” rating on shares of Express Scripts in a research note on Thursday, November 1st. Finally, Zacks Investment Research lowered Express Scripts from a “buy” rating to a “hold” rating in a research note on Monday. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Express Scripts has an average rating of “Hold” and an average price target of $90.73.

Shares of NASDAQ:ESRX opened at $95.33 on Friday. Express Scripts Holding Co has a 12-month low of $60.63 and a 12-month high of $100.43. The firm has a market capitalization of $53.73 billion, a PE ratio of 13.43, a P/E/G ratio of 1.20 and a beta of 0.89. The company has a current ratio of 0.77, a quick ratio of 0.65 and a debt-to-equity ratio of 0.63.

Express Scripts (NASDAQ:ESRX) last announced its quarterly earnings results on Wednesday, October 31st. The company reported $2.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.42 by $0.01. Express Scripts had a return on equity of 25.43% and a net margin of 4.83%. The business had revenue of $25.56 billion for the quarter, compared to the consensus estimate of $25.11 billion. During the same period last year, the business posted $2.51 EPS. The business’s revenue was up 3.6% compared to the same quarter last year. On average, equities research analysts forecast that Express Scripts Holding Co will post 9.08 EPS for the current year.

In other Express Scripts news, Director Mahon Thomas P. Mac sold 5,234 shares of the business’s stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $99.50, for a total transaction of $520,783.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.79% of the stock is owned by insiders.

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About Express Scripts

Express Scripts Holding Company operates as a pharmacy benefit management (PBM) company in the United States and Canada. The company's PBM segment offers clinical solutions; and specialized pharmacy care, home delivery and specialty pharmacy, retail network pharmacy administration, benefit design consultation, drug utilization review, drug formulary management, public exchange, administration of group purchasing organization, and digital consumer health and drug information services.

Further Reading: How can you know how many shares are floating?

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Institutional Ownership by Quarter for Express Scripts (NASDAQ:ESRX)

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