Cigna Buys Express Scripts, Shares Go Opposite Ways

Cigna Buys Express Scripts, Shares Go Opposite Ways

Corient Capital Partners LLC increased its position in Express Scripts by 4.8% during the fourth quarter. The combined company would be based at Cigna's headquarters in Bloomfield, Conn., while Express Scripts would remain at its St. Louis headquarters.

Cigna and Express Scripts shareholders, who the companies said need to approve the acquisition before it can close, could echo some of Gottlieb's concerns. The Cortland Associates Inc holds 812,243 shares with $51.43 million value, down from 844,256 last quarter. Corporate insiders own 0.68% of the company's stock. The return on assets ratio shows how well management is employing the company's total assets to make a profit.

Cortland Associates Inc decreased Express Scripts Hldg Co (ESRX) stake by 3.79% reported in 2017Q3 SEC filing.

Analysts at Leerink Swann reduced their Q1 2018 earnings per share estimates for Express Scripts in a research report issued to clients and investors on Wednesday. Piermont Capital Management Inc. owns 225,130 shares or 0.81% of their United States portfolio.

The merger, which the companies hope will be completed by the end of the year, would give Cigna shareholders an estimated 64 percent ownership of the combined company and Express Scripts shareholders will own 36 percent. The 5 months bullish chart indicates low risk for the $46.47B company.

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The stock decreased 1.51% or $0.78 during the last trading session, reaching $50.88.

The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. Institutional investors own 87.70% of the company's stock. Cigna's stock was down almost 11 percent, or $21.09, to $173.16 in afternoon trading. About 28.91 million shares traded or 584.61% up from the average. It has underperformed by 33.62% the S&P500. Cigna also assumes $15 billion dollars of Express Scripts debt. Therefore 46% are positive. $80.44's average target is -0.14% below currents $80.55 stock price. The brokerage presently has a "hold" rating on the stock. Girard Partners has invested 0.05% in Express Scripts Holding Company (NASDAQ:ESRX). "Ultimately, through all this investigation into the company's performance the analyst decides if their stock is a "buy", sell" or hold". Deutsche Bank downgraded the stock to "Sell" rating in Monday, February 22 report. The firm has "Buy" rating by Cowen & Co given on Thursday, June 8. Jefferies maintained Express Scripts Holding Company (NASDAQ:ESRX) on Tuesday, August 29 with "Buy" rating. Hendershot Investments Inc. now owns 81,895 shares of the company's stock valued at $6,113,000 after acquiring an additional 840 shares in the last quarter. The firm has "Hold" rating by Needham given on Monday, October 2.

"Cigna's acquisition of Express Scripts brings together two complementary customer-centric services companies, well-positioned to drive greater quality and affordability for customers", David M. Cordani, president, CEO, Cigna said in the release.

U.S. health insurer Cigna today announced a $67-billion deal to acquire pharmacy benefits manager Express Scripts, adding to the list of mergers and acquisitions in the sector, as insurers try to tackle soaring healthcare costs. The company has market cap of $46.62 billion.

In plain English, that means the mergers aren't ones where two similar companies are looking to combine and take a competitor out of the market. In the past 13-year record, this ratio went down as low as 0.13 and as high as 1.62.

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