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Centene Corporation (CNC)

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  • Jun. 28, 2012, 10:13 AM
    More on the Supreme Court healthcare opinion: The bottom line: the entire ACA is upheld, with the exception that the federal government's power to terminate states' Medicaid funds is narrowly read. The Supreme Court's live blog is here.
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  • Jun. 28, 2012, 10:11 AM
    More on the Supreme Court healthcare opinion: The Medicaid provision is limited but not invalidated.
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  • Jun. 28, 2012, 10:10 AM
    The Supreme Court healthcare opinion: The individual mandate survives as a tax. You can read the full opinion here.
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  • Jun. 27, 2012, 3:29 PM
    The State of Kansas selects units of UnitedHealth (UNH +1.1%), Centene (CNC -0.6%) and Amerigroup (AGP +0.7%) to cover Medicaid members starting Jan. 1. The awards are the latest in a string of state partnerships with managed-care firms aimed at restraining costs and improving care in the health program for the poor, which is jointly paid for by states and the federal government. The state's goal is to save more than $1B over the next five years.
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  • Jun. 11, 2012, 9:05 AM
    Premarket gainers: NOIZ +94%. INMD +22%. AMPE +11%. MLNX +8%. NAV +7%.
    Losers: CNC -29%. DMND -6%.
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  • Jun. 11, 2012, 8:31 AM
    Centene (CNC) -23.9% premarket after the Medicaid insurer cuts its full-year EPS forecast to $1.45-$1.65 vs. its previously announced range of $2.64-$2.84, reflecting higher-than-expected medical costs in Kentucky and Texas as well as in its Celtic unit. CNC warns of an additional potential writedown.
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  • Jun. 8, 2012, 8:35 AM
    Centene (CNC) +11.1% premarket after receiving notification from Ohio that it will be awarded a Medicaid contract in the state in 2013. The reversal of an earlier decision is vital for Centene and Molina (MOH +19.3%), which received similar news, since both health care providers have large presences in Ohio. Aetna (AET) was dropped from Ohio's list of Medicaid plans that will serve starting Jan. 1.
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  • Jun. 7, 2012, 1:18 PM
    The carnage in Molina Healthcare (MOH -30%) after withdrawing its guidance yesterday is spilling over to other healthcare providers with a presence in the same service area: Centene (CNC -13%), Wellcare Health Plans (WCG -4%) and Amerigroup (AGP -3%).
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  • Apr. 24, 2012, 3:20 PM
    Medicaid insurer Centene's (CNC -5.7%) Q1 EPS edged lower Y/Y on higher medical costs from adding new business, but it raised its 2012 profit target amid a $500M increase in expected revenue. CEO Michael Neidorff calls the quarter "mixed," noting the period tends to be volatile and that high medical costs in new markets can take three to four months to normalize.
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  • Apr. 24, 2012, 6:46 AM
    Centene (CNC): Q1 EPS of $0.45 misses by $0.03. Revenue of $1.7B (+41% Y/Y) beats by $60M. (PR)
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  • Apr. 12, 2012, 9:50 AM
    Molina Healthcare (MOH +4.4%) catches a bounce as Merrill says Texas will contract with incumbent Medicaid HMO providers for "dual eligible" individuals. Notable calls says it's good news for the big players in Texas (MOH, CNC, AGP), and suggests the news from Ohio - which caused a drubbing this week - could be an isolated data point.
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  • Apr. 9, 2012, 5:28 PM
    Centene (CNC) says it plans to officially protest Ohio Medicaid's decision not award it a contract to continue serving Medicaid members in the state. The company adds that absent a successful appeal, it will see a material impairment to earnings in FY12.
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  • Apr. 9, 2012, 9:24 AM
    Centene (CNC) -6.7% premarket after saying it was not awarded a contract to continue serving Medicaid members in Ohio. CNC plans to appeal the decision, which if upheld would impact 9% of the 1.8M members the company had on Dec. 31. Susquehanna downgrades the health insurer to Neutral. (also: MOH receives similar bad news)
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  • Mar. 30, 2012, 2:48 PM
    Health insurers show continued strength on sentiment that the Supreme Court may significantly overturn Obamacare, boosted by a Jefferies note saying a court ruling that would overturn part of the law that would order states to expand Medicaid programs probably won’t have long-lasting effects on insurers such as CNC +3.6% and AGP +3%. Also: WLP +3.5%, CVH +3%, WCG +2.7%.
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  • Feb. 7, 2012, 6:24 AM
    Centene (CNC): Q4 EPS of $0.57 beats by $0.02. Revenue of $1.45B (+27.6% Y/Y) in-line. (PR)
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  • Dec. 16, 2011, 10:14 AM
    Centene (CNC +8.1%) rallies after issuing financial guidance for FY12 above the standing estimate of analysts. The firm sees EPS falling in a range of $2.60-$2.80 on premium and service revenue of $7.2B-$7.6B.
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Company Description
Centene Corp is a diversified multi-nationalhealthcare enterprise. The Company provides programs and services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals.
Sector: Healthcare
Country: United States