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Lawrence Marsh | Lawrence Marsh Barclays SECOND TEAM Lisa Gill JPMorgan THIRD TEAM Robert Willoughby BofA RUNNERS-UP Thomas Gallucci Merrill Lynch ; Ricky Goldwasser UBS |
Lawrence Marsh, who moved to Barclays Capital after its parent acquired Lehman Brothers last month, remains in the top spot for a fifth consecutive year (and for the eighth time in the past nine years). Money managers say the 48-year-old researcher is “a stalwart on the sector” who delivers “top-notch work” on earnings models. Marsh proved his expertise in February by reiterating his long-term overweight on supplemental health benefits vendor HealthExtras, at $26.55, after the Rockville, Maryland–based company’s fourth-quarter results met Marsh’s already bullish forecasts and promised further growth ahead. As of mid-September the stock had zipped up 19.7 percent, to $31.77, far ahead of the sector’s 11.8 percent plunge over the same period. Lisa Gill of JPMorgan Securities, who advances one position to second place, publishes the “go-to primer on the sector,” while also hitting “home run” calls, investors say. One example: Gill’s long-standing buy recommendation, dating back to November 2006, on Express Scripts, a pharmacy benefits manager headquartered in St. Louis, on rising profits. In the 12 months ended mid-September, the share price surged 39.8 percent. Down one notch to third place, Banc of America Securities’ Robert Willoughby “knows which pharmacies are getting the business and, more important, which are able to fill orders at the lowest internal cost,” explains one portfolio manager. Willoughby initiated coverage of Louisville, Kentucky–based pharmacy services vendor PharMerica Corp. in August 2007 with a buy recommendation, at $16.11, owing to its growing market share. Through mid-September 2008, PharMerica’s stock was up a very healthy 54.3 percent, to $24.86.
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