Medco Health's better-than-expected 3Q earnings gain of 13% impressed Lazard Capital. "It was a high-quality beat, with the upside relative to our forecast driven by higher EBITDA and slightly better profit per script, with overall higher volume offset by a higher tax rate and higher share count relative to our model," firm says. Also says interest expense was lower than expected because MHS didn't buy back shares during the quarter. Firm keeps the pharmacy benefits manager at buy.
view original article