Public Employees Retirement Association of Colorado lifted its stake in Express Scripts Holding (NASDAQ:ESRX) by 6.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 111,661 shares of the company’s stock after acquiring an additional 7,244 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Express Scripts were worth $8,334,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in the company. SeaCrest Wealth Management LLC purchased a new position in shares of Express Scripts in the fourth quarter worth approximately $105,000. Bank of Nova Scotia Trust Co. purchased a new position in shares of Express Scripts in the third quarter worth approximately $120,000. Monroe Bank & Trust MI boosted its holdings in shares of Express Scripts by 74.8% in the third quarter. Monroe Bank & Trust MI now owns 2,266 shares of the company’s stock worth $156,000 after buying an additional 970 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of Express Scripts in the fourth quarter worth approximately $183,000. Finally, Atlas Brown Inc. purchased a new position in shares of Express Scripts in the fourth quarter worth approximately $212,000. Hedge funds and other institutional investors own 87.86% of the company’s stock.
In other news, VP Glen D. Stettin sold 3,449 shares of the business’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $81.00, for a total value of $279,369.00. Following the transaction, the vice president now owns 33,715 shares of the company’s stock, valued at $2,730,915. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Christine Houston sold 10,104 shares of the business’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $70.08, for a total transaction of $708,088.32. Following the completion of the transaction, the vice president now directly owns 87,400 shares in the company, valued at approximately $6,124,992. The disclosure for this sale can be found here. Insiders sold 17,001 shares of company stock worth $1,249,505 in the last three months. Insiders own 0.68% of the company’s stock.
Express Scripts declared that its board has approved a stock repurchase program on Monday, December 18th that authorizes the company to repurchase 45,000,000 outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
A number of research firms recently issued reports on ESRX. Royal Bank of Canada raised shares of Express Scripts from a “sector perform” rating to an “outperform” rating and set a $68.00 price objective on the stock in a report on Wednesday, January 31st. BidaskClub downgraded shares of Express Scripts from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. Mizuho set a $86.00 price objective on shares of Express Scripts and gave the stock a “hold” rating in a report on Wednesday, January 24th. Sanford C. Bernstein downgraded shares of Express Scripts from a “market perform” rating to an “underperform” rating and raised their price objective for the stock from $55.80 to $77.50 in a report on Tuesday, January 30th. Finally, Robert W. Baird raised their price objective on shares of Express Scripts from $57.00 to $59.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Express Scripts currently has an average rating of “Hold” and an average price target of $78.23.
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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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