Centene Is Uniquely Positioned To Benefit From Continued Medicaid Growth
Alpha Gen Capital
Alpha Gen Capital
Why Centene Is A Good Opportunity
Sun, Jul. 10, 9:47 AM
- WellCare Health Plans (NYSE:WCG) and Centene (NYSE:CNC) have made competing offers for the Medicare Advantage insurance policies - covering about 350K people - that Aetna (NYSE:AET) plans to shed in order to acquire Humana (NYSE:HUM).
- Aetna presented the divestiture plan on Friday, when meeting with DOJ officials in a bid to address their antitrust concerns.
Fri, Jul. 1, 10:28 AM
- GlaxoSmithKline (NYSE:GSK) upgraded to Buy from Neutral by Citigroup. Price target is 1800p (14% upside).
- Alexion Pharmaceuticals (NASDAQ:ALXN) upgraded to Buy from Neutral by Citigroup. Price target is $154 (29% upside).
- IPG Photonics (NASDAQ:IPGP) upgraded to Buy from Hold by Canaccord Genuity. Price target raised to $90 (13% upside) from $85.
- Centene (NYSE:CNC) upgraded to Overweight from Equal Weight by Morgan Stanley. Price target raised to $86 (21% upside) from $84.
- Pacira Pharmaceuticals (NASDAQ:PCRX) downgraded to Hold from Buy by Brean Capital.
- TESARO (NASDAQ:TSRO) downgraded to Hold from Buy by Jefferies.
- Esperion Therapeutics (NASDAQ:ESPR) downgraded to Equal Weight from Overweight with a $13 (26% upside) price target (from $28) by Barclays. Downgraded to Neutral from Overweight with a $15 (46% upside) price target (from $50) by JPMorgan. Downgraded to Underperform from Neutral with a $10 (0% upside) price target (from $23) by Credit Suisse.
- HeartWare International (NASDAQ:HTWR) downgraded to Market Perform from Outperform by Wells Fargo. Downgraded to Neutral from Buy with a $58 (0% upside) price target (from $60) by SunTrust Robinson Humphrey.
- Regulus Therapeutics (NASDAQ:RGLS) downgraded to Market Perform from Outperform by BMO Capital. Price target lowered to $4 (30% upside) from $16.
- HealthSouth (NYSE:HLS) downgraded to Underweight from Equal Weight by Barclays. Price target lowered to $42 (8% upside) from $45.
- SciQuest (NASDAQ:SQI) downgraded to Market Perform from Outperform by Raymond James.
- Quest Diagnostics (NYSE:DGX) downgraded to from Neutral to Sell by Jyske Bank.
Fri, Jun. 24, 7:01 AM
- Cerner (NASDAQ:CERN) upgraded to Buy from Neutral with $65 (14% upside) price target by SunTrust Robinson.
- Catalent (NYSE:CTLT) upgraded to Outperform from Market Perform with a $26 (midpoint)(10% upside) price target by Wells Fargo. Upgraded to Buy from Neutral by Bank of America.
- Centene (NYSE:CNC) upgraded to Overweight from Equal Weight by Barclays. Price target raised to $82 (17% upside) from $76.
- Valeant Pharmaceuticals (NYSE:VRX) downgraded to Neutral from Overweight by JPMorgan. Price target lowered to $35 (57% upside) from $50.
- AveXis (NASDAQ:AVXS) downgraded to Hold from Buy by Jefferies. Price target lowered to $39 (3% downside risk) from $42.
- Surgical Care Affiliates (NASDAQ:SCAI) downgraded to Neutral from Buy by JPMorgan. Price target maintained at $48 (3% upside).
- ACADIA Pharmaceuticals (NASDAQ:ACAD) downgraded to Neutral from Buy by Bank of America.
- Express Scripts Holdings (NASDAQ:ESRX) downgraded to Underweight from Equal Weight by Morgan Stanley. Price target raised to $70 (9% downside risk) from $67.
- Perrigo (NYSE:PRGO) downgraded to Hold from Buy by Argus Research.
- CVS Health (NYSE:CVS) downgraded to Equal Weight from Overweight by Morgan Stanley. Price target lowered to $104 (11% upside) from $111.
Tue, May 24, 9:38 AM
- Worried about Fed rate hikes pushing the greenback up higher? Focus on growing companies deriving at least 80% of sales from the U.S., says Jefferies' Steven DeSanctis.
- He notes the dollar peaked on Jan. 20, and sectors with big overseas exposure have outperformed since. However, with higher interest rates looking like they might send the dollar back into an uptrend, it's time to refocus on companies less reliant on exports.
- DeSanctis and team identified 27 small- and mid-cap companies that were: In the Russell 2500 and Buy-rated by Jefferies, have less than 20% of sales outside of U.S., "sit in the highest two quintiles" based on ROE, and have market values north of $2B.
- Of that group, they picked ten showing the highest growth of sales per share (though a tie brought the total to 11): Paycom Software (NYSE:PAYC), Lithia Motors (NYSE:LAD), Centene Corp. (NYSE:CNC), Molina Healthcare (NYSE:MOH), Five Below (NASDAQ:FIVE), Mednax (NYSE:MD), Western Alliance Bancorp (NYSE:WAL), Signature Bank (NASDAQ:SBNY), KAR Auction (NYSE:KAR), Science Applications (NYSE:SAIC), and Urban Outfitters (NASDAQ:URBN).
Tue, Apr. 26, 6:59 AM
- Centene (CNC) Q1 results: Revenues: $6,953M (+35.5%); SG&A: $722M (+82.3%); Operating Income: $20M (-84.5%); Net Loss: ($16M) (-125.0%); Loss Per Share: ($0.13) (-125.0%); Non-GAAP EPS: $0.74 (+34.5%); CF Ops: $195M (+333.3%); Quick Assets: $3,436M (95.2%).
- 2016 Guidance: Total Revenues: $39.0B - 39.8B; EPS: $2.45 - 2.80; Non-GAAP EPS: $4.00 - 4.35.
Tue, Apr. 26, 6:03 AM
Mon, Apr. 25, 5:30 PM
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Thu, Mar. 24, 5:43 PM
- Hologic (NASDAQ:HOLX) is replacing Pepco Holdings (was just acquired by Exelon), and Centene (NYSE:CNC) will replace Ensco (NYSE:ESV), in the S&P 500 after Tuesday's close. (Press Release - .pdf)
- Abiomed (NASDAQ:ABMD) will take Hologic's spot in the S&P MidCap 400, and Ensco will take Centene's spot. First Industrial Realty Trust (NYSE:FR) will replace Health Net (just acquired by Centene) in the 400.
- ServisFirst Bancshares (NASDAQ:SFBS) will replace National Penn Bancshares (about to be acquired by BB&T) in the S&P SmallCap 600 after the April 1 close. Banc of California (NYSE:BANC) will take Abiomed's spot in the 600.
- HOLX +2% after hours. CNC +1.6%. FR +3.5%. BANC +3.5%. ESV -0.5%.
Wed, Mar. 23, 12:40 PM
- Health Net (HNT +4.7%) and Centene (CNC +5.6%) buck the market's down day. The bull catalyst is the approval of their planned merger by the California Department of Insurance. Centene announced its $6.8B takeover of Health Net in July 2015. The transaction should close shortly.
- Previously: Centene takes out Health Net for $6.8B (July 2, 2015)
Tue, Feb. 9, 7:42 AM
- Centene (NYSE:CNC) Q4 results ($M): Total Revenues: 6,302 (+33.4%); Premiums: 5,415 (+34.8%); Total Operating Expenses: 6,082 (+34.2%).
- Net Income: 111 (+3.7%); EPS: 0.90 (+2.3%); CF Ops: 658 (-46.2%).
- Health Benefits Ratio: 88.0% (-1.5%); Total Membership: 5.1M (+25.8%).
- 2016 Guidance: Total Revenues: $40.0B - 40.8B; EPS: $2.80 - 3.15; Non-GAAP EPS: $4.05 - 4.40.
Tue, Feb. 9, 6:05 AM
Mon, Feb. 8, 5:30 PM
Thu, Jan. 28, 5:58 PM
Mon, Jan. 25, 6:55 PM
- Centene (NYSE:CNC) discloses that it cannot locate six hard drives in its inventory of IT assets. The files contain personal health information on ~950K patients who received laboratory services from 2009 - 2015, including name, address, date of birth, social security number, member ID and health information, but no payment or financial information.
- CEO Michael Neidorff says, "Centene takes the privacy and security of our members' information seriously. While we don't believe this information has been used inappropriately, out of abundance of caution and in transparency, we are disclosing an ongoing search for the hard drives. The drives were part of a data project using laboratory results to improve the health outcomes of our members."
- Affected individuals will be notified. The company will offer them free credit and healthcare monitoring as a precaution. It is also in the process of reinforcing and reviewing its IT asset management procedures.
- Shares are down 2% after hours on increased volume.
Mon, Jan. 25, 5:41 PM
Dec. 18, 2015, 7:06 AM
- Centene (NYSE:CNC) increases its 2015 EPS guidance (excluding Health Net merger and related costs) to $2.90 - 2.94 from $2.84 - 2.90. It reaffirms its premium and service revenues of $21.0B - 21.3B.
- 2016 Guidance (assumes Health Net deal closes on Feb. 1): Total Revenues: $41.2B - 42.0B; EPS: $2.85 - 3.15; Non-GAAP EPS: $4.10 - 4.40.
- 2015 results will be reported on February 9 before the open. The conference call will start at 8:30 am ET.
- The company will host an investor meeting today in New York beginning at 8:30 am ET.
Centene Corp. is a diversified, multi-line healthcare company that provides programs and services to government-sponsored healthcare programs, focusing on under-insured and uninsured individuals. It operates its business through two segments: Medicaid Managed Care and Specialty Services. The... More
Industry: Health Care Plans
Country: United States
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