Express Scripts (ESRX) to Repurchase 45,000,000 Shares

Express Scripts (NASDAQ:ESRX) declared that its board has initiated a stock repurchase program, which permits the company to buyback 45,000,000 outstanding shares on Monday, December 18th, EventVestor reports. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

ESRX has been the topic of several research reports. Jefferies Group set a $72.00 price objective on Express Scripts and gave the stock a “buy” rating in a report on Tuesday, August 29th. Robert W. Baird raised Express Scripts from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $72.00 to $81.00 in a report on Friday, December 15th. Raymond James Financial reaffirmed a “sell” rating on shares of Express Scripts in a report on Friday, December 15th. Needham & Company LLC reissued a “hold” rating on shares of Express Scripts in a research note on Thursday. Finally, Mizuho set a $67.00 price target on Express Scripts and gave the company a “hold” rating in a research note on Tuesday, October 24th. Five analysts have rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $74.65.

Express Scripts (NASDAQ ESRX) opened at $74.53 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.73 and a quick ratio of 0.61. The firm has a market capitalization of $42,170.00, a price-to-earnings ratio of 12.38, a PEG ratio of 1.09 and a beta of 0.88. Express Scripts has a 12 month low of $55.80 and a 12 month high of $74.86.

Express Scripts (NASDAQ:ESRX) last released its quarterly earnings data on Tuesday, October 24th. The company reported $1.90 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.90. Express Scripts had a net margin of 3.64% and a return on equity of 25.46%. The business had revenue of $24.68 billion during the quarter, compared to analysts’ expectations of $25.68 billion. During the same quarter in the prior year, the company earned $1.74 EPS. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. sell-side analysts forecast that Express Scripts will post 7.03 earnings per share for the current year.

In related news, VP Phyllis S. Anderson sold 643 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $62.37, for a total value of $40,103.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Christine Houston sold 10,104 shares of the company’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 completion of the sale, the vice president now owns 87,400 shares of the company’s stock, valued at approximately $6,124,992. The disclosure for this sale can be found here. 0.68% of the stock is owned by corporate insiders.

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Express Scripts Company 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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