M&T Bank Corp Trims Position in Express Scripts Holding (ESRX)

M&T Bank Corp lessened its holdings in Express Scripts Holding (NASDAQ:ESRX) by 7.2% during the 4th quarter, Holdings Channel reports. The firm owned 272,043 shares of the company’s stock after selling 20,970 shares during the period. M&T Bank Corp’s holdings in Express Scripts were worth $20,305,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ESRX. SeaCrest Wealth Management LLC bought a new stake in Express Scripts in the fourth quarter worth $105,000. Bank of Nova Scotia Trust Co. bought a new stake in Express Scripts in the third quarter worth $120,000. Monroe Bank & Trust MI increased its position in 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 purchasing an additional 970 shares during the last quarter. Capstone Investment Advisors Netherlands B.V. increased its position in Express Scripts by 49.3% during the second quarter. Capstone Investment Advisors Netherlands B.V. now owns 2,797 shares of the company’s stock valued at $179,000 after acquiring an additional 924 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in Express Scripts during the fourth quarter valued at $183,000. Institutional investors own 87.86% of the company’s stock.

A number of research analysts have weighed in on the stock. SunTrust Banks set a $82.00 price objective on shares of Express Scripts and gave the company a “buy” rating in a research report on Thursday, December 14th. Jefferies Group reiterated a “buy” rating on shares of Express Scripts in a research report on Thursday, October 26th. Zacks Investment Research upgraded shares of Express Scripts from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research report on Monday, October 16th. Royal Bank of Canada set a $68.00 price objective on shares of Express Scripts and gave the company a “hold” rating in a research report on Friday, December 15th. Finally, Mizuho set a $86.00 price objective on shares of Express Scripts and gave the company a “hold” rating in a research report on Wednesday, January 24th. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $78.23.

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 transaction of $279,369.00. Following the completion of the sale, the vice president now directly owns 33,715 shares of the company’s stock, valued at $2,730,915. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christine Houston sold 10,104 shares of the business’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $70.08, for a total transaction of $708,088.32. Following the sale, the vice president now directly owns 87,400 shares of the company’s stock, valued at $6,124,992. The disclosure for this sale can be found here. Insiders have sold 17,001 shares of company stock valued at $1,249,505 over the last three months. Insiders own 0.68% of the company’s stock.

Shares of Express Scripts Holding (ESRX) opened at $71.71 on Friday. The stock has a market cap of $41,543.46, a price-to-earnings ratio of 11.81, a PEG ratio of 0.81 and a beta of 0.93. Express Scripts Holding has a one year low of $55.80 and a one year high of $83.49. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.61 and a current ratio of 0.73.

Express Scripts announced that its Board of Directors has initiated a share buyback plan on Monday, December 18th that authorizes the company to buyback 45,000,000 shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

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

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