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Stock Market & Financial Investment News

News Breaks
March 21, 2014
11:30 EDTMOH, WLP, CI, ESRX, CNCAnalyst sees Express Scripts benefiting from WellPoint member growth
After health insurer WellPoint (WLP) estimated that the number of people using its health insurance would rise by 1M-1.3M this year, Citigroup expects Express scripts to benefit from the increase. WHAT'S NEW: WellPoint announced that it expects its medical member base to rise by 1M-1.3M in 2014. The company also increased its 2014 earnings per share guidance to at least $8.20 per share, up from $8. In a note to investors earlier today, Citigroup analyst Garen Sarafian wrote that WellPoint had increased the outlook for its medical membership base from previous levels and that the insurer now predicts that the number of its medical members will rise by 3%-4% in 2014. Express Scripts, which provides pharmacy benefit management services for WellPoint, obtained over 12% of its 2013 revenue from WellPoint, the analyst stated. WellPoint's stronger than expected growth could lift Express Script's 2014 earnings per share by up to 7c, wrote Sarafian. He kept a $92 price target and Buy rating on Express Script. PRICE ACTION: In late morning trading, Express Scripts lost 0,4% to $77.65 and WellPoint added 0.7% to $100.45. WHAT'S NOTABLE: Other health insurers are rising in the wake of WellPoint's announcement, with Centene (CNC), Cigna (CI), and Molina (MOH) all higher by about 1%.
News For ESRX;WLP;CNC;CI;MOH From The Last 14 Days
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August 28, 2015
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August 27, 2015
19:14 EDTESRXExpress Scripts to cover both Repatha, Praluent for now, Bloomberg says
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August 20, 2015
09:20 EDTESRXExpress Scripts rebates to increase due to price protection, says Cleveland
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08:03 EDTCNCCentene subsidiary wins statewide foster care contract
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