Its core operations will be needed no matter how market dynamics shift.
Profits were pressured in the quarter, but we are reiterating our fair value estimate and no-moat rating for the managed-care organization.
We are reiterating our fair value estimate for the narrow-moat firm.
The Cigna merger is on track, and we are maintaining our $92 fair value estimate and wide moat rating after a solid quarter for Express Scripts.
The pharma distributor has a solid foundation and a bright outlook, in our opinion.
The Cigna merger with Express Scripts will create one of the strongest firms in the U.S. healthcare market.
We are reiterating our positive outlook for the combined company.
We are reiterating our fair value estimate and narrow moat rating for the managed-care firm.
We expect the combined company will fundamentally change how healthcare is provided to individuals.
Disastrous quarter aside, the wide-moat firm remains in a strong long-term position within the U.S. pharmaceutical market.
Cigna's purchase of the pharmacy benefit manager underscores the value and critical nature of the PBM business model to the healthcare market.
The wide-moat pharmacy benefits manager is in a solid long-term position given its cost-saving and efficiency services.
A vertical integration would benefit the no-moat retail pharmacy more than the wide-moat drug distributor.
Investors are underappreciating the moaty nature of the healthcare supply chain and the formidable competitive advantages that have insulated these firms.
New competition may seem inevitable, but moats in the pharma supply chain exist for a reason.
The no-moat retail pharmacy is doing an excellent job of offsetting gross profit headwinds by decreasing SG&A as a percentage of sales.
A new CVS/Aetna entity will be a healthcare services behemoth, but we think CVS is overpaying to create it.
We have some concerns, but think a deal would bring operational opportunities.
We are reiterating our $89 fair value estimate and wide moat rating for the healthcare services player.
For now, we’re not changing our valuations or moat ratings for the affected companies.
We think the wide-moat firm has done well balancing innovation with profitability.
We like its improving operational dynamics and less uncertain near-term environment.
The retail pharmacy avoids court action by terminating a merger with Rite Aid, and will instead buy about half of its stores.
We're maintaining our fair value estimate as the firm discounts its generic inventory to win business and tries to close the Rite Aid acquisition.
The recent rulings by the two respective federal courts in blocking both the Anthem/Cigna and Aetna/Humana deals have significant repercussions for the sector.
The retail pharmacy is pursuing a three-pronged strategy in an attempt to adapt in a rapidly shifting market.
The PBM has unparalleled supplier pricing power and scale advantages.
The wide-moat CRM services provider's niche position in the life sciences vertical allows it to have a significant competitive advantage, as the firm can develop products specifically for areas of unmet customer need.
The company's still one of the most powerful players in the pharmaceutical supply chain.
Although revenue issues continue, we think the shares are undervalued.
The combination should boost long-term economic profitability but Anthem is significantly overpaying for this transaction, writes Morningstar’s Vishnu Lekraj.
With the addition of Boots Alliance, the firm is now a premier global retail powerhouse.
Given the power and advantages that large PBMs possess along the pharmaceutical supply chain, UnitedHealth’s deal for Catamaran makes complete sense, writes Morningstar’s Vishnu Lekraj.
The wide-moat pharmacy benefit manager is still undervalued.
Walgreen's acquisition of Alliance Boots is positive from a strategic standpoint, but the firm will still lack significant long-term competitive advantages, says Morningstar’s Vishnu Lekraj.
We believe its acquisition strategy puts the PBM on the right course.