Express Scripts, Inc.NASDAQ
Express Scripts Is A Better Investment Than CVS
Uncommon Profit Investor • 21 Comments
Uncommon Profit Investor • 21 Comments
Fri, Nov. 11, 6:47 AM
- Novartis (NYSE:NVS) upgraded to Buy from Hold with an $85 (15% upside) price target by Argus Research.
- Humana (NYSE:HUM) upgraded to Overweight from Neutral with a $202 (5% upside) price target by JPMorgan.
- McKesson (NYSE:MCK) upgraded to Buy from Neutral with a $147 (0% upside) price target by Mizuho Securities.
- AmerisourceBergen (NYSE:ABC) upgraded to Buy from Neutral by Mizuho Securities. Price target raised to $89 (12% upside) from $84.
- Healthways (NASDAQ:HWAY) upgraded to Buy from Sell by UBS Global Research. Price target raised to $24 (9% upside) from $22.50.
- ACADIA Pharmaceuticals (NASDAQ:ACAD) upgraded to Buy from Neutral by Bank of America. Price target lowered to $35 (22% upside) from $39.
- Biogen (NASDAQ:BIIB) upgraded to Overweight from Neutral with a $335 (3% upside) price target by Piper Jaffray.
- Juno Therapeutics (NASDAQ:JUNO) upgraded to Neutral from Sell by BTIG Research.
- Express Scripts (NASDAQ:ESRX) upgraded to Hold from Sell by Deutsche Bank. Price target increased to $70 (7% downside risk) from $69.
Mon, Oct. 31, 11:36 AM
- Shire plc (SHPG -3.3%) slumps in early trading on increased volume in apparent response to comments made by Express Scripts (ESRX +2.6%) Chief Medical Officer Steven Miller during a phone interview. He said the company is mulling ways to manage the rising costs of hemophilia medicines without forcing patients to switch treatments. Shire is a major player in the space after its merger with Baxalta. Hemophilia products accounted for over 46% of Baxalta's business in 2015.
- Related tickers: (OTCPK:BAYRY -0.7%)(PFE -0.2%)(NVO -0.4%)(BMRN -0.6%)(BAX +0.9%)(BIIB -0.4%)(SGMO +1.4%)
Fri, Oct. 28, 7:13 PM
- In a regulatory filing, Express Scripts (NASDAQ:ESRX) reports that it has received a letter from the U.S. Internal Revenue Service confirming the conclusion of its examination into the potential tax benefit related to the disposition of PolyMedica, a now-bankrupt firm that was owned by Medco, a company Express Scripts acquired for $29.1B in 2012.
- This quarter, the company will recognize a $511M tax benefit which will increase GAAP EPS by $0.80 - 0.81, thereby upping Q4 guidance to $2.18 - 2.25. Non-GAAP EPS guidance of $1.84 - 1.90 will remain as is.
Fri, Oct. 28, 11:22 AM
- Drug wholesaler McKesson's (MCK -23.2%) lackluster Q3 numbers and softer guidance due to pricing pressure is weighing on the entire drug supply chain. Competitors AmerisourceBergen (ABC -11.9%) and Cardinal Health (CAH -11.2%) report next week.
- Representative tickers: (ESRX -4.5%)(CVS -3.9%)(WBA -2.7%)(RAD -0.9%)(UNH +0.1%)
Wed, Oct. 26, 6:44 PM
- The FDA's controversial approval of Sarepta Therapeutics' (NASDAQ:SRPT) eteplirsen for the treatment of Duchenne muscular dystrophy (DMD) patients amenable to exon 51 skipping has translated into a difficult path to insurance coverage.
- Humana says it will cover the $300K+ cost of therapy only for ambulatory DMD patients. Those who are wheelchair-bound or deteriorate to wheelchair status are apparently out of luck.
- Anthem (NYSE:ANTM) has declined to cover it at all because it considers eteplirsen experimental despite the OK from the FDA.
- Aetna (NYSE:AET) and Express Scripts (NASDAQ:ESRX) plan to conduct a full clinical review of the drug before deciding to cover. UnitedHealth Group (NYSE:UNH) is considering coverage with a prior authorization while Cigna (NYSE:CI) has only indicated interest in providing coverage.
Tue, Oct. 25, 4:24 PM
- Express Scripts (NASDAQ:ESRX) Q3 results ($M): Total Revenues: 25,410.1 (+0.1%).
- EBITDA: 1,948.1 (+11.7%); Non-GAAP EBITDA: 1,948.1 (+7.7%); Net Income: 722.9 (+9.2%); Non-GAAP Net Income: 1,091.6 (+10.3%); EPS: 1.15 (+18.6%); Non-GAAP EPS: 1.74 (+20.0%); CF Ops (9 mo.): 2,670.5 (+35.3%).
- Claims Volume: 247.0 (-6.0%); Generic Fill Rate: 85.4% (+1.1%).
- 2016 Guidance: EPS: $4.47 - 4.53 from $4.45 - 4.55; Non-GAAP EPS: $6.36 - 6.42 from $6.33 - 6.43; Operating Income: $5,105 - 5,180 from $5,135 - 5,250; Total Adjusted Claims: 1,265 - 1,280 from 1,260 - 1,290.
- Q4 Guidance: EPS: $1.38 - 1.44; Non-GAAP EPS: $1.84 - 1.90.
- 2017 Guidance: Retention rate: 97 - 98% from 96 - 98%.
- Shares are up 2% after hours on average volume.
Tue, Oct. 25, 4:02 PM
Mon, Oct. 24, 5:35 PM
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Tue, Oct. 11, 8:21 AM
- In a regulatory filing, Horizon Pharma (NASDAQ:HZNP) reports that it expects Q3 revenues of $207M - 209M which includes the previously announced $65M settlement with Express Scripts (NASDAQ:ESRX) related to a dispute over drug rebates. For 2016, it sees the top line coming in at ~$960M.
- Q3 non-GAAP EBITDA should be $139M - 141M while quick assets should total ~$550M. The outlook for 2016 non-GAAP EBITDA has been lowered to $450M - 460M from $495M - 510M.
- Additional details will be provided during the company's Q3 earning call on November 7.
- Shares are down 6% premarket on average volume.
- Previously: Express Scripts terminates Horizon Pharma-connected pharmacy from network and sues Horizon for $140M; shares down 15% premarket (Nov. 11, 2015)
Mon, Aug. 1, 9:24 PM
- Express Scripts (ESRX +0.1%) is adding new drugs to its excluded list, meaning some treatments from makers including Valeant (VRX -6.3%), Eli Lilly (LLY +0.4%), and Bristol-Myers Squibb (BMY +1.8%) won't be covered by insurance.
- The 2017 list covers 85 excluded drugs, vs. 87 excluded in 2016, the company said.
- Excluded drugs include Valeant's Zyclara skin cream for actinic keratosis; Bristol's arthritis drug Orencia, Lilly's Taltz psoriasis treatment and some brands of gout drug colchicine.
- Meanwhile, previously excluded drugs like Pfizer's (PFE +1.1%) Xeljanz and Xeljanz XR arthritis treatments, and GlaxoSmithKline's (GSK +0.4%) Arnuity Ellipta and Floven Diskus asthma treatments, will be covered again.
- Express Scripts says exclusions have provided for better negotiated prices and savings for customers of an estimated $1.8B in 2017.
Mon, Jul. 25, 5:11 PM
- Express Scripts Holding (NASDAQ:ESRX) Q2 results ($M): Total Revenues: 25,222.3 (-1.0%);
- EBITDA: 1,798.1 (+4.9%); Non-GAAP EBITDA: 1,798.1 (+0.2%); Net Income: 720.7 (+20.1%); Non-GAAP Net Income: 998.7 (+2.0%); EPS: 1.13 (+28.4%); Non-GAAP EPS: 1.57 (+9.0%); CF Ops (6 mo.): 1,190.1 (+0.7%).
- Claims Volume: 250.7 (-3.0%);
- 2016 Guidance: Total adjusted claims: 1,260 - 1,290 from 1,255 - 1,295; EBITDA: $7,230 - 7,430 (unch); Operating Income: $5,135 - 5,250 (unch); EPS: $4.45 - 4.55 from $4.53 - 4.61: Non-GAAP EPS: $6.33 - 6.43 from $6.31 - 6.43; CF Ops: $4,600 - 5,100 (unch).
- Expected 2017 retention rate for 2016 selling season: 96 - 98%.
- Shares are off a fraction after hours.
Mon, Jul. 25, 4:03 PM
Sun, Jul. 24, 5:35 PM
Wed, Jul. 6, 7:12 PM
- Express Scripts (NASDAQ:ESRX) hsa priced its any-and-all tender offer for outstanding notes due 2017.
- The company is offering $1,011.30 per $1,000 of principal for its 2.65% senior notes due 2017, of which $1.5B is outstanding.
- The offer expired today at 5 p.m. ET. Of the outstanding amount, $1.105B was validly tendered and the company accepted them for purchase. Settlement date is expected tomorrow.
Sun, Jul. 3, 2:50 PM
- via Barclays:
- "Although stocks in the U.S. and Europe have partially bounced back from the sharp selloff sparked by the U.K. referendum result, risks remain prevalent. [Analyst] Keith Parker foresees further equity downside alongside a prolonged market bottoming process, during which positioning is likely to turn much more defensive at active managers.
- "With this in mind, our stock screen this week highlights Overweight-rated stocks that screen defensively based on sector and equity beta but are also expected to generate superior ROE and free cash flows in FY1.
- "Our screen considers the following factors: i) Large-cap (US $5 billion+) stock in the consumer staples, utilities, telecom or healthcare sectors. ii) Adjusted beta less than 1.0. iii) Rated Overweight by Barclays equity research. iv) 15%+ ROE and 4.5%+ FCF yield expected in FY1, based on Barclays estimates."
- The stocks: Aetna (NYSE:AET), BT Group plc (NYSE:BT), Cardinal Health (NYSE:CAH), Coloplast (OTC:CLPBF, OTCPK:CLPBY), CVS (NYSE:CVS), Estee Lauder (NYSE:EL), Express Scripts (NASDAQ:ESRX), Glanbia (OTC:GLAPF, OTCPK:GLAPY), Grifols (NASDAQ:GRFS), Imperial Brands (OTCQX:IMBBY, OTCQX:ITYBF), Johnson & Johnson (NYSE:JNJ), Ahold (OTCQX:AHONY, OTCQX:AHODF, OTCQX:AHOND), LabCorp (NYSE:LH), Perrigo (NYSE:PRGO), Telus (NYSE:TU), Unilever (UL, UN), UnitedHealth Group (NYSE:UNH)
- See full table here.
Fri, Jun. 24, 7:01 AM
- Cerner (NASDAQ:CERN) upgraded to Buy from Neutral with $65 (14% upside) price target by SunTrust Robinson.
- Catalent (NYSE:CTLT) upgraded to Outperform from Market Perform with a $26 (midpoint)(10% upside) price target by Wells Fargo. Upgraded to Buy from Neutral by Bank of America.
- Centene (NYSE:CNC) upgraded to Overweight from Equal Weight by Barclays. Price target raised to $82 (17% upside) from $76.
- Valeant Pharmaceuticals (NYSE:VRX) downgraded to Neutral from Overweight by JPMorgan. Price target lowered to $35 (57% upside) from $50.
- AveXis (NASDAQ:AVXS) downgraded to Hold from Buy by Jefferies. Price target lowered to $39 (3% downside risk) from $42.
- Surgical Care Affiliates (NASDAQ:SCAI) downgraded to Neutral from Buy by JPMorgan. Price target maintained at $48 (3% upside).
- ACADIA Pharmaceuticals (NASDAQ:ACAD) downgraded to Neutral from Buy by Bank of America.
- Express Scripts Holdings (NASDAQ:ESRX) downgraded to Underweight from Equal Weight by Morgan Stanley. Price target raised to $70 (9% downside risk) from $67.
- Perrigo (NYSE:PRGO) downgraded to Hold from Buy by Argus Research.
- CVS Health (NYSE:CVS) downgraded to Equal Weight from Overweight by Morgan Stanley. Price target lowered to $104 (11% upside) from $111.