Centene +6.6% after raising 2014 guidance

|About: Centene Corporation (CNC)|By:, SA News Editor

Centene (CNC +6.6%) is surging after guiding 2014 earnings beyond Wall Street expectations; the Medicaid coverage provider sees 2014 EPS of $3.50-$3.80 on a range of $13.5B-$14B in premium and service revenues vs. analyst consensus estimate of $3.61 EPS on $13.77B in revenue.

CNC also raises the lower end of its 2013 earnings guidance and now expects EPS of $2.81-$2.87 vs. $2.83 consensus.

CNC's 2014 outlook does not include its discontinued Kentucky business, fees insurers are expected to pay next year due to the health care overhaul, and the impact of the just-announced acquisition of a majority interest in U.S. Medical Management.