Express Reports a Solid Quarter and Raises Its Outlook for Selling Season; Positioned Well Long-Term
Express Scripts reported a solid quarter, and we are reiterating our $89 fair value estimate and wide moat rating for the healthcare services player. Even with the recent announcement by Anthem that it will not renew its contract with Express, we believe Express remains in an advantaged position over the long-term, and its 1.2 billion– 1.3 billion prescription claims post-Anthem position it favorably to benefit from secular industry tailwinds. The firm’s client risk is now significantly lessened...Express Scripts Holding is a pharmacy benefit management (PBM) company. The company has two reportable segments: PBM, which consists of clinical solutions, Express Scripts SafeGuardRx
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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