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Centene Corporation (CNC)

  • Thu, Nov. 19, 3:01 PM
    • Medical insurers and managed care providers are taking it on the chin today. UnitedHealth Group (UNH -5.5%) brought the rain with its softer earnings guidance as a result of weaker demand for individual insurance purchased through exchanges. It seems that the premium hikes, which the Affordable Care Act was supposed to curtail, are having their predictable effect.
    • Previously: UnitedHealth Group down 6% on lowered guidance (Nov. 19)
    • Related tickers: (AET -7.3%)(CI -5.7%)(HUM -4.2%)(CNC -9%)(ANTM -6.8%)(WCG -4.6%)(MGLN -4.4%)(HNT -5.2%)
    | Thu, Nov. 19, 3:01 PM | 33 Comments
  • Thu, Jul. 2, 7:50 AM
    • Centene (NYSE:CNC) acquires managed healthcare firm Health Net (NYSE:HNT) for ~$6.8B, including the assumption of ~$500M of debt. The combined firms will have estimated pro forma premium and service revenues of ~$37B this year and the merger will be significantly accretive to EPS in the first year after closing.
    • Under the terms of the deal, Health Net shareholders will receive 0.622 shares of Centene and $28.25 in cash for each Health Net share. The total consideration of $78.57, based on CNC's closing price yesterday, represents a 21% premium over HNT's price at yesterday's close. Once the transaction is finalized in early 2016, CNC shareholders will own 71% of the combined entity while HNT shareholders will own 29%.
    • Centene will fund the cash portion of the deal with cash on hand and debt.
    | Thu, Jul. 2, 7:50 AM | Comment!
  • Thu, Jun. 25, 10:26 AM
    • Medical services-related stocks jump after the Supreme Court rules 6-3 to affirm the ruling in King v. Burwell.
    • Related tickers: (HUM +2.6%)(CNC +3.2%)(MOH +2.3%)(ANTM +0.1%)(CI +0.2%)(UNH +1.8%)(AET +0.8%)(MGLN +1.1%)(HNT +0.7%)(WCG +2.9%)(CYH +8.8%)(XLV +0.9%)
    | Thu, Jun. 25, 10:26 AM | 87 Comments
  • Wed, Mar. 4, 12:11 PM
    • Hospitals rally on comments from Supreme Court Justice Anthony Kennedy, often a swing vote in important cases. He says there is a powerful point to the Obama administration's argument that the Affordable Care Act would fall apart if the subsidies were ruled invalid.
    • The Court is currently hearing arguments in the case King v. Burwell, which challenges federal subsidies in states that did not create their own health insurance exchanges. Its final decision will not be announced until June, though.
    • Hospitals and health insurers have the most at stake. They have benefited greatly since the law was signed in 2010. To date, 11.4M Americans have signed up for coverage in 2015, giving both groups more paying customers and potentially cutting the number of non-paying emergency room visits. If the subsidies were ruled invalid then many people would drop coverage due to the higher cost.
    • Related tickers: (HCA +6.2%)(THC +5.4%)(UHS +2.6%)(CYH +5.4%)(LPNT +3.3%)(SEM -0.9%)(SSY)(HUM +0.1%)(CI -0.4%)(CNC)(MOH +0.3%)(ANTM +0.5%)(UNH +0.3%)(MGLN +0.3%)(WCG +0.3%)
    | Wed, Mar. 4, 12:11 PM | 17 Comments
  • Jul. 25, 2014, 11:05 AM
    • Led by the plummet in WellCare Health Plans (WCG -18.8%) the managed care industry can't seem to find a friend in the market today.
    • Related tickers: (UNH -1.3%) (WLP -1.9%) (AET -1.6%) (CI -1%) (HUM -2.8%) (CNC -6.6%) (HNT -2.3%) (MOH -5.4%) (MGLN -8.1%)
    | Jul. 25, 2014, 11:05 AM | 2 Comments
  • Dec. 13, 2013, 12:38 PM
    • 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.
    | Dec. 13, 2013, 12:38 PM | Comment!
  • Apr. 1, 2013, 4:08 PM
    Health insurers surge into the close as the final notice on Medicare Advantage reimbursement is due today: Humana (HUM +8.6%), UnitedHealth (UNH +3.1%), Wellcare Healthplans (WCG +3.9%), Coventry Health (CVH +1%) Centene (CNC +1%) and Aetna (AET +2.5%).
    | Apr. 1, 2013, 4:08 PM | Comment!
  • Mar. 14, 2013, 11:20 AM
    Medicaid insurer Centene (CNC -1.2%) slips after JPMorgan cut the shares to Neutral, citing concerns over the impact of the health-care overhaul on the managed-care sector. The firm says that Medicaid expansion offers growth opportunities for companies like CNC, but its scope remains in doubt. Its estimates now discount new membership for seven of the company's 16 states, where opposition from lawmakers is making expansion uncertain.
    | Mar. 14, 2013, 11:20 AM | Comment!
  • Dec. 14, 2012, 9:10 AM
    Premarket gainers: ALXA +18%. ALU +10%. TIVO +5%. ADBE +5%.
    Losers: CYTX -15.66%. CNC -8%. BBY -8%. PAY -7%. ISIS -6%. FBR -5%.
    | Dec. 14, 2012, 9:10 AM | Comment!
  • Dec. 14, 2012, 8:25 AM
    Centene (CNC) -4% premarket after cutting its view for the current year, seeing EPS of $0.10-$0.20 vs. prior guidance of $0.56-$0.66. The Medicaid insurer blames its lower view on higher medical costs associated with an earlier and more intensive flu season in its largest markets. Sees FY 2013 EPS in-line.
    | Dec. 14, 2012, 8:25 AM | Comment!
  • Nov. 7, 2012, 2:05 PM
    Medicare and Medicaid insurers are joining the Obamacare re-election party as well, as the legislation ensures dollars will continue flowing to their companies. Centene (CNC +10%), WellCare (WCG +2.7%) and Molina Healthcare (MOH +2.9) all gain ground.
    | Nov. 7, 2012, 2:05 PM | 1 Comment
  • Oct. 23, 2012, 2:05 PM
    Centene (CNC +0.6%) holds up today in spite of posting a mixed Q3 report that missed on the top line. Net earnings fell 87% Y/Y as higher medical costs masked better-than-expected revenue growth. Last week, the medicaid insurer said it planned to exit the Kentucky market because it couldn't resolve differences with the state over high-cost issues, but today investors appear to be more focused on the company's cost-cutting efforts going forward than the earnings-squeezing mess the high cost environment created in 3Q.
    | Oct. 23, 2012, 2:05 PM | Comment!
  • Jul. 24, 2012, 1:19 PM
    Centene (CNC) +7.2% despite swinging to a Q2 loss of $35M from a profit of $28.4M a year earlier, EPS missing expectations, and an increased medical-loss ratio of 92.9%. However, the company forecast it  would return to profit in Q3 and it maintained its FY EPS outlook.
    | Jul. 24, 2012, 1:19 PM | Comment!
  • Jul. 9, 2012, 9:45 AM
    Amerigroup (AGP) +38% and WellPoint (WLP) +3.8% following news of the the latter buying Amerigroup for $4.46B. The deal is a big bet on the expansion of Medicaid, and the combined firm will serve over 4.5M beneficiaries of state-sponsored healthcare plans. Other Medicaid insurers are also rising, including Wellcare (WCG +13.3%) and Centene (CNC +16.1%)
    | Jul. 9, 2012, 9:45 AM | Comment!
  • Jul. 9, 2012, 9:11 AM
    Premarket gainers: FX +39%. AGP +38%. WCG +13%. CNC +13%. MOH +10%. NSPH +7%. AMPE +6%. WLP +5%.
    Losers: BPI -28%.
    | Jul. 9, 2012, 9:11 AM | Comment!
  • Jun. 11, 2012, 9:05 AM
    Premarket gainers: NOIZ +94%. INMD +22%. AMPE +11%. MLNX +8%. NAV +7%.
    Losers: CNC -29%. DMND -6%.
    | Jun. 11, 2012, 9:05 AM | Comment!
Company Description
Centene Corp is a diversified multi-national healthcare enterprise. The Company provides programs and services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals.
Sector: Healthcare
Country: United States