Cigna to Buy Express Scripts in Big PBM Move

by Ben Pena March 16, 2018, 0:48
Cigna to Buy Express Scripts in Big PBM Move

Express Scripts Holding Company (ESRX) has declined -1.56% and closed its last trading session at $73.42.

Cigna's Cordani, who will become the president and CEO of the combined company, and Express Scripts President and CEO Tim Wentworth, who will become president of the PBM unit within Cigna, characterized the proposed marriage as one focused on providing choice and personalized health care products for customers. The company saw 5.32 million shares trade hands over the course of the day. Greenleaf Trust accumulated 692 shares or 0% of the stock. The return on assets ratio shows how well management is employing the company's total assets to make a profit. The company's quarterly revenue was up 2.1% on a year-over-year basis. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Inv Mgmt reported 798,100 shares or 0.47% of all its holdings. 131,308 are owned by Pinebridge Invs Lp. It increased, as 66 investors sold Express Scripts Holding Company shares while 414 reduced holdings. Piermont Capital Management Inc. owns 225,130 shares or 0.81% of their USA portfolio.

Cigna also has agreed to assume about $15 billion in Express Scripts debt, bringing the total value of the deal to around $67 billion.

The TTM operating margin for the company stands at 5.5%. The stock plummeted -1.45 percent over the past month and fell -1.63 percent year-to-date. Analyst's mean target price for SUMR is $2.00 while analysts mean recommendation is 2.00. Corporate insiders own 0.68% of the company's stock. Maryland Cap holds 0.18% of its portfolio in Express Scripts Holding Company (NASDAQ:ESRX) for 18,723 shares.

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The offer for Express Scripts Holding Co that has ESRX stock moving today will be a mix of cash and stock. It has underperformed by 33.62% the S&P500. ValuEngine upgraded shares of Express Scripts from a "hold" rating to a "buy" rating in a research report on Monday, December 4th. Therefore 46% are positive. Express Scripts has a 52 week low of $55.80 and a 52 week high of $83.49. $80.44's average target is -0.14% below currents $80.55 stock price. Express Scripts had 58 analyst reports since July 30, 2015 according to SRatingsIntel.

The rating agency expects to cut the ratings by one or two notches, and said the downgrades would coincide with the launch of the new debt to finance the acquisition. The firm has "Hold" rating given on Monday, October 2 by Needham. Finally, Monroe Bank & Trust MI raised its holdings in Express Scripts by 74.8% during the 3rd quarter. 1 analysts gave its stock an Outperform rating. Monroe Bank & Trust MI now owns 2,266 shares of the company's stock worth $156,000 after buying an additional 970 shares in the last quarter. Palladium Partners LLC boosted its holdings in shares of Express Scripts by 4.1% during the 4th quarter. The rating was initiated by UBS with "Neutral" on Thursday, October 6.

More notable recent Express Scripts Holding Company (NASDAQ:ESRX) news were published by: Bloomberg.com which released: "Cigna to Buy Express Scripts as Health Shakeout Speeds Up" on March 08, 2018, also Reuters.com with their article: "Express Scripts would look at Medicare pharmacy drug plan deals: CEO" published on February 28, 2018, Courant.com published: "Cigna To Buy Express Scripts in $67 Billion Deal" on March 08, 2018.

In another alliance of an insurer and a health care company, Cigna said Thursday it would acquire Express Scripts, the nation's largest pharmacy benefits manager, for about $54 billion. Until then, the two companies will continue to operate independently. It has a 13.51 P/E ratio.


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