Medco Health Solutions MHS
September 23, 2003 - 12:03am EST by
member
| 2003 | 2004 | ||||||
| Price: | 24.02 | EPS | |||||
| Shares Out. (in M): | 0 | P/E | |||||
| Market Cap (in $M): | 6,485 | P/FCF | |||||
| Net Debt (in $M): | 0 | EBIT | 0 | 0 | |||
| TEV (in $M): | 0 | TEV/EBIT | |||||
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| # | AUTHOR DATE SUBJECT |
|---|---|
| 27 | |
I think things are a changin' in the way drugs are distributed...check this out.
__________________________________
HEADLINE #1
Mail-Order Drugs Bite Into Rite Aid Sales
September 07, 2004 12:36:00 PM ET
By Emily Kaiser
CHICAGO (Reuters) - Drugstore chain Rite Aid... login to read the rest | |
| 26 | |
In an earlier note I suggested that distributors of drugs and other middlemen in the supply chain would get squeezed as the direct mail channel grew and as Congress intensified its focus on drug "reimportation"... login to read the rest | |
| 25 | |
This is impressive. The removal of this uncertainty should broaden the universe of potential buyers of the shares.
Hats off to management!
_________________________
Medco, states, U.S. agree to settle probes
April 26, 2004 11:16:00 AM ET
CHICAGO, April 26 (Reuters)... login to read the rest | |
| 24 | |
Here are a few helpful links and resources:
1) www.ftc.gov/ogc/healthcarehearings/docs/030626richardson.pdf
2) GAO study (see a previous thread)
3) AIS Health Study (referred to in the original write up)
There is also a lot good information just floating around on... login to read the rest | |
| 23 | |
Round,
Enjoyed the write-up. I just started looking at this company again and wondered if you think the stock is worth more than your original $35 price target. Also, I know nothing about the... login to read the rest | |
| 22 | |
I re-read my initial write up after listening to the partially garbled presentation at the SG Cowan Health Care Conference and have the following thoughts:
1) Margins Performance in the Future is Likely to Surpass ... login to read the rest | |
| 21 | |
This week's Barron's features the opinions, picks and pans of a familiar lot of notable investors. Bill Gross is a welcome new addition to the posse this year. All in all, good readin'.
Meryl Witmer offered... login to read the rest | |
| 20 | |
Medco Health Solutions and UnitedHealthcare Renew Strategic Relationship
January 12, 2004 5:15:00 PM ET
- Multi-year agreement beginning Jan. 1, 2004
- Represents more than $7 billion in projected annual net revenues for... login to read the rest | |
| 19 | |
West Virginia Court Dismisses Claims Against Medco Health Solutions, Inc. (NYSE: MHS)
December 05, 2003 4:04:00 PM ET
FRANKLIN LAKES, N.J., Dec. 5 /PRNewswire-FirstCall/ -- A West Virginia state Circuit Court judge has thrown out several claims... login to read the rest | |
| 18 | |
The value arbitrage window is just about closed as shares reached $33 this morning. I expect continued strong fnancial performance and sustainable value growth in the future.
Not bad for a less than average rated idea! | |
| 17 | |
Listened to conference replay and the overall thesis seems to be holding up well.
- The gross disparity between trading multiple of this industry leader and major competitors is narrowing.
- Solid portfolio of new account... login to read the rest | |
| 16 | |
Looks like this youngster was birthed with a full head of hair. Conference call in the AM.
____________________________________________________________
Medco Health Solutions (NYSE: MHS) Announces Third Quarter Earnings; Provides Guidance for 2003 and 2004
October 22, 2003 4:11:00 PM... login to read the rest | |
| 15 | |
Met -
I was thinking about your previous comments and decided to share a random observation (for what it's worth) with you.
Ever noticed that the only CEO's who refer to "specialty" products/services are those CEO's... login to read the rest | |
| 14 | |
Thanks for drawing attention to MIMS, a pipsqueak of a company in the crosshairs of much larger PBM's (the lionshare of its business) and infusion therapy companies, most of which have their own pharmacy businesses... login to read the rest | |
| 13 | |
Round,
Enjoyed the write up. For me you demonstrated Medco is cheap relative to peers,
but I think they're all expensive.
Why pay 15x forward earnings on a
10% growth rate, in a low margin... login to read the rest | |
| 12 | |
on the working capital issue. there are two offsetting effects for Medco. because of the restructuring of the contracts with many pharmacuetical companies last year, working capital has risen substantially above where it... login to read the rest | |
| 11 | |
The wistle blower case is what's referred to here. The issues here are unique from the primary legal claims being made against the company. MHS management belives it has the ability to defend itself against... login to read the rest | |
| 10 | |
David -
Your points are well taken.
With regard to the value here, MHS stands up on relative metrics as well as reasonable DCF. Since folks here like to buy accounting book values (and promises that they... login to read the rest | |
| 9 | |
Round,
Thanks for the follow-up. I think you've provided enough support to show that PBM's have carved out a niche in the healthcare landscape. The more I thought about it this weekend, I think the drug... login to read the rest | |
| 8 | |
As promised, please see the prior two year working capital to sales ratios for the competitors :
WC/Sales % ... login to read the rest | |
| 7 | |
The GAO commissioned a study of the cost savings delivered by PBM's to a federal employee plan. Please see the following for a summary of conclusions.
I'm anxious to hear the negatives with regard to this... login to read the rest | |
| 6 | |
David -
Thanks for your questions...and my apologies for not responding sooner. Part of the delay stemmed from my efforts to review what Weitz had to say about the healthcare industry. I recall the gist of... login to read the rest | |
| 5 | |
Numc -
You point out a few things and ask a few things.
As to whether current clients/customers will eventually become competitors, time will certainly tell. But, despite what an Aetna executive might represent, getting in... login to read the rest | |
| 4 | |
Joe -
As I pointed out, this is a low margin, high transaction volume, customer financed business...low margins are a current feature of the industry. Nothing I've identified about MHS's mix of business or cost structure... login to read the rest | |
| 3 | |
Round,
I am curious to where you think PBM's fit into the pricing scheme for healthcare. Wally Weitz had an interesting observation a month or two ago in Barron's about how he is eskewing healthcare because... login to read the rest | |
| 2 | |
this certainly is an interesting situation, and could work out well.
a couple more positives:
1. eps should actually be higher by c.$0.20 per share to reflect (i.e. add back) amortization of intangibles - the... login to read the rest | |
| 1 | |
1) To what extent are MHS's low gross margins a structural part of the business and to what extent do you think they could be brought in line with comps?
2) Do you | |