Cigna to spend about $52 billion for pharmacy benefits manager Express Scripts

17 March, 2018, 02:23 | Author: Kathy Ellis
  • Various medicine pills in their original packaging are seen in Ljubljana

It operates through two divisions, Specialty Alloys Operations and Performance Engineered Products. Fmr Ltd Llc invested in 10.24 million shares or 0.04% of the stock. Therefore 64% are positive. To top it off, Express Scripts had a falling out with Anthem (ANTM), its biggest customer, which accused it of not passing along drug manufacturers' rebates. The firm has "Buy" rating by SunTrust given on Wednesday, December 20. They set a "buy" rating and a $75.00 price target on the stock. As per Monday, October 5, the company rating was maintained by Leerink Swann.

Shares in Cigna were trading at $172 a share when the closing bell rang on Thursday, down 11.5 percent from Wednesday's close.

Investors sentiment increased to 1.24 in Q3 2017. Its up 0.06, from 0.56 in 2017Q2.

Shares of Express Scripts are up 9 pct over the a year ago, while Cigna is up 27.9 per cent. 72 funds opened positions while 224 raised stakes. 6,512 are owned by Live Your Vision Lc.

On Thursday, Cigna agreed to buy Express Scripts in a $54 billion cash-and-stock deal, sending shares of the pharmacy benefit manager soaring more than 15 percent in premarket trading. Tiedemann Wealth Mngmt Ltd Llc has 16,580 shares.

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Express Scripts declared that its Board of Directors has initiated a share repurchase program on Monday, December 18th that permits the company to repurchase 45,000,000 shares. Wealthtrust holds 0.01% or 170 shares in its portfolio.

Express Scripts (NASDAQ:ESRX) last announced its quarterly earnings data on Tuesday, February 27th. Godsey Gibb Associate, a Virginia-based fund reported 165,339 shares. 10,069 were accumulated by National Bank Of Stockton. Express Scripts employs 28,000 people worldwide. Nomura Asset Limited holds 95,394 shares. King Luther Management holds 0.02% or 28,460 shares.

Pharmacy benefits manager Express Scripts, a middleman between insurers and drug makers, was worth $41.43-billion (29.81 billion pounds) as of Wednesday's close, while No. 5 USA health insurer Cigna had a market cap of $47.18-billion, according to Thomson Reuters Eikon data. Until then, both the companies would continue to function as independent firms. It has a 13.22 P/E ratio.

The deal is the latest in a recent wave of consolidation across the health care sector, which has been marked by spiraling costs and roiled by Amazon's announcement in January that it was teaming up with Berkshire Hathaway and JPMorgan Chase to try to simplify coverage, a move that unsettled established industry players. Deutsche Bank upgraded Express Scripts Holding Company (NASDAQ:ESRX) on Friday, November 4 to "Hold" rating. It has underperformed by 33.62% the S&P500. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given the Company's projected earnings growth and one Wall Street analyst has a $101.00 price target on the stock. CRS was included in 2 notes of analysts from September 9, 2016. 3 analysts say it's a Hold while 0 analysts provided their expert opinion as Sell. About 511,805 shares traded. It has outperformed by 2.67% the S&P500. It improved, as 66 investors sold ESRX shares while 414 reduced holdings. Coho Prtn owns 3,576 shares. Insiders sold a total of 21,896 shares of company stock worth $1,617,903 in the last ninety days.

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