In a report released today, Mohan Naidu from Oppenheimer maintained a Hold rating on Express Scripts (ESRX). The company’s shares opened today at $96.48, close to its 52-week high of $100.43.
Naidu wrote:
“We increased our 2019 claims growth in the core business to 2%, up from our prior estimate of 5% decline, based on 2018 selling season commentary. Mgmt expects to exceed 98% in retention going into 2019, which we believe should support a return to claims growth in the core business, excluding the transitioning clients. We are also adjusting our estimates to $105B/$9.53, up from our prior $100B/$9.20. Due to the pending CI acquisition of ESRX, we are publishing our estimates updates only.”
According to TipRanks.com, Naidu is a 5-star analyst with an average return of 15.1% and a 61.1% success rate. Naidu covers the Services sector, focusing on stocks such as Tivity Health Inc, Hms Holdings Corp, and Evolent Health.
The word on The Street in general, suggests a Hold analyst consensus rating for Express Scripts with a $96.71 average price target, a 0.2% upside from current levels. In a report issued on November 1, Barclays also maintained a Hold rating on the stock with a $90 price target.
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Based on Express Scripts’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $1.07 billion. In comparison, last year the company had a net profit of $842 million.
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Express Scripts Holding Co. engages in the provision of pharmacy benefit management services. Its services include network-pharmacy claims processing, home delivery pharmacy care, specialty pharmacy care, benefit-design consultation, drug utilization review, formulary management, and medical and drug data analysis services.
