Pharmacy benefit management company Express Scripts (ESRX) is trading 9% over yesterday’s close of $35.94. The increase came in spite of the fact that the company lowered its earnings guidance; it is expecting a greater shortfall than expected in claims. Over the last 52 weeks, ESRX has ranged in price from $34.47 a share to $60.89, where it peaked in late May 2011. Several hedge funds made huge gains on this morning’s increase:
Stephen Mandel – Lone Pine Capital: Gained $31.9 million
Bain Capital – Brookside Capital: Gained $14.7 million
Steve Cohen – SAC Capital Advisors: Gained $10.7 million
John Lykouretzos – Hoplite Capital Management: Gained $9.7 million
David Stemerman – Conatus Capital Management: Gained $7.5 million
Larry Robbins – Glenview Capital: Gained $7.3 million
Eric Bannasch – Cadian Capital: Gained $7.2 million
These calculations assume that these hedge funds did not increase or reduce their stock positions in ESRX since the end of June. We did not take into account their option positions.
