Express Scripts to split stock; boosts earnings outlook

Following the closing bell, SplitTrader candidate, Express Scripts, Inc. (Nasdaq:ESRX) announced the board of directors' approval of a 2-for-1 stock split on its common shares, payable on or about June 22, 2001. Currently there are 39 million shares outstanding, 25.4 million in the float, and 150 million shares authorized. The last split executed by the company was a 2-for-1 in November 1998.

The Company also increased its earnings guidance for 2001, anticipating that it will achieve the high-end of estimates which are currently at $3.04 to $3.10.

Chairman and CEO, Barrett Toan, stated in a company press release, "The stock split and increased earnings outlook reflect the successful execution of our strategic business plan. Our strong membership growth, reinvestment in technology which is providing productivity improvements, and success in Specialty Distribution Services, are driving our outlook for earnings and cash flow generation."

SplitTrader analysts have anticipated this split announcement and will monitor trading for the duration of the split run. Please check back for updates for a possible play recommendation.

After trading as high as $94.15 today, ESRX closed down -0.41 to $92.95 on average volume of 407,500.

About the Company

Express Scripts, Inc. is one of the largest pharmacy benefit management (PBM) companies in North America. Through facilities in seven states and Canada, the company serves thousands of client groups, including managed care organizations, insurance carriers, third-party administrators, employers and union- sponsored benefit plans. (company press release)

For further details, be sure to check out the complete profile located on the site. To view a chart on the stock, click on the link provided below.

View Profile for ESRX

View Chart for ESRX