|Day's Range||1.1500 - 1.6000|
ST. LOUIS, Oct. 22, 2019 /PRNewswire/ -- Centene Corporation (CNC) announced today that retired United States Air Force General Lori J. Robinson was elected to serve on the company's board of directors as a Class I director. Gen. Robinson retired from the Air Force in July 2018 following a 36-year military career. Throughout her career, she commanded thousands of military and civilian men and women from the United States and Canada.
Measuring Centene Corporation's (NYSE:CNC) track record of past performance is a useful exercise for investors. It...
Centene Corp said on Tuesday its deal for WellCare Health Plans could close sooner than previously expected and posted a profit that edged past Street estimates, reassuring investors of strength in its core Medicaid business. Although medical costs grew year-over-year and missed analysts' expectations, Centene said costs for its Medicaid health plans for low-income Americans remained stable. Membership in Centene's Medicaid health plans increased by 61,800 to more than 8.7 million since last year and the company said new contracts with certain states helped offset weaker enrollment from a few.
Although medical costs grew year-over-year and missed analysts' expectations, Centene said costs for its Medicaid health plans for low-income Americans remained stable. Membership in Centene's Medicaid health plans increased by 61,800 to more than 8.7 million since last year and the company said new contracts with certain states helped offset weaker enrollment from a few. In the third quarter, Centene's health benefits ratio (HBR), amount it spent on medical claims versus income from premiums, worsened to 88.2% from 86.3% a year earlier, missing estimates of 87.62%.
Centene , the health insurer, said third-quarter net income rose to $95 million, or 23 cents a share, from $19 million, or 5 cents a share, with revenue climbing to $18.98 billion from $16.18 billion on growth from the Health Insurance Marketplace business. Adjusted for various items, Centene said it would've earned 96 cents a share. Analysts polled by FactSet expected earnings of 95 cents a share on revenue of $18.47 billion. The health benefits ratio, a measure of medical costs as a percentage of premium revenues, rose to 88.2% from 86.3%.
ST. LOUIS and TAMPA, Fla., Oct. 22, 2019 /PRNewswire/ -- Centene Corporation (CNC) ("Centene") and WellCare Health Plans, Inc. (WCG) ("WellCare") today announced that the New York Department of Financial Services and Department of Health have each approved Centene's pending indirect acquisition of New York domiciled WellCare insurance subsidiaries, bringing the total number of states to approve the transaction to 25. "We are pleased that the New York State Department of Financial Services and Department of Health have joined 24 other states in issuing approvals," said Michael F. Neidorff, Centene's Chairman, President and Chief Executive Officer. "These approvals bring us another step closer toward completing the combination of Centene and WellCare.
-- 2019 Third Quarter Diluted EPS of $0.23 ; Adjusted Diluted EPS of $0.96 -- ST. LOUIS , Oct. 22, 2019 /PRNewswire/ -- Centene Corporation (NYSE: CNC) announced today its financial results for the third ...
UnitedHealth (NYSE:UNH) stock jumped on earnings recently. But a bigger earnings catalyst came a few days later. UnitedHealth is getting into managed care.Source: Ken Wolter / Shutterstock.com Managed care has been the biggest healthcare story of the decade, the truest legacy of the Affordable Care Act. Under managed care companies focus on wellness rather than illness. They control costs by owning the places people go to for care and telling them what medicines they should take.Over the last 10 years Centene (NYSE:CNC) shares have risen almost 950% on Medicare and Medicaid contracts. UNH, which most consider the star of the healthcare sector, is up 840% in that time.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Stocks to Sell Before December's Meltdown Now UnitedHealth's Optum unit has created an "accountable care" program in southern California. The sector will never be the same. Everyone in the PoolUnitedHealth had been doing great under the old model. It generated $5 billion in profit during the third quarter, and its health services business is now nearly half its revenue.You might ask, why change?Two reasons. First, because competitors are doing it. Second, because it can.CVS Health's (NYSE:CVS) acquisition of Aetna has made it the first true competitor to UNH, at least in terms of revenue. CVS plans to use its thousands of drug stores and hundreds of in-store clinics to deliver first-line care to millions of people.Walmart (NYSE:WMT) has opened a massive front-line clinic facility in Georgia. Amazon (NASDAQ:AMZN) is taking over 1 million people out of the market with its Haven healthcare unit, also a managed care system.UnitedHealth, meanwhile, has been laying its plans for nearly a decade. Optum has become a true competitor to companies like Cerner (NASDAQ:CERN) in electronic health records. UNH's acquisition of Catamaran means it has a pharmacy benefit manager comparable to that of Cigna's (NYSE:CI) Express Scripts unit. UnitedHealth has also been quietly buying up care providers like DaVita Medical Group, which provides kidney dialysis.Along the way there have been mistakes. Harken Health, which tried to compete with Kaiser Permanente, was closed. But the company's sheer size now gives it the ability to play hardball with even large hospitals.The new Optum offering, called the SignatureValue Harmony Network, will start with 1.5 million customers, combining Optum's own providers. With DaVita, OptumCare now has more physicians in its networks than HCA Healthcare (NYSE:HCA), the largest hospital operator. Why Managed Care WorksManaged care works because chronic conditions like diabetes, heart disease and kidney failure represent 75% of the national health bill -- and they account for even more of Medicare and Medicaid spending.These conditions can be prevented by lifestyle changes. Careful management can also keep people out of hospitals. Keeping people out of hospitals is the key to managing risks, as Centene has shown.UNH's moves put it in line with industry trends. Its size gives it the power to handle massive amounts of this business profitably. The Bottom Line on UnitedHealth StockProposals for reforming the nation's healthcare system are all geared toward the managed care model.UnitedHealth now has the infrastructure to deliver this model to the mass market.Given the company's size, a market cap more than double that of any insurance rival, revenue that has grown by more than one-third since 2015, this move is a very big deal.UnitedHealth stock is still cheap. Its trailing price-to-earnings ratio of 18 is in line with the market. While the dividend yields just 1.8%, it has nearly tripled in the last five years. UNH has one of Washington's largest lobbying budgets, and its political contributions are usually split evenly between the parties.UnitedHealth, in short, looks ready for nearly anything 2020 could throw at it.Dana Blankenhorn is a financial and technology journalist. He is the author of the environmental story, Bridget O'Flynn and the Bear, available at the Amazon Kindle store. Write him at firstname.lastname@example.org or follow him on Twitter at @danablankenhorn. As of this writing he owned shares in CVS and AMZN. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks to Sell Before December's Meltdown * 7 Software Stocks to Buy for Growth * 3 Large-Cap Stocks to Buy After Earnings The post A Move to Managed Care Will Strengthen UnitedHealth Stock appeared first on InvestorPlace.
Centene Corp. is expected to report net income of $388.3 million, or 95 cents a share, on sales of $18.5 billion before the market opens on Tuesday, based on a FactSet survey of 19 analysts. In the upcoming quarter, analysts are forecasting net income of $301.5 million, or 74 cents a share, on sales of $18.6 billion. Centene is currently trading at a price-to-forward-earnings ratio of 9.7 based on the 12-month estimates of 19 analysts surveyed by FactSet.
Bernstein Research published its latest Quant+Fundamental stock picks. Three names are holdovers from April: Philip Morris, CVS Health, and Southwest Airlines.
Update: The New York Department of Financial Services and Department of Health approved the acquisition Tuesday, bringing the total count to 25. Centene Corp. and Tampa-based WellCare Health Plans Inc.’s planned $17.3 merger has gained the approval of five more states. Arizona, Connecticut, Georgia, Ohio and Texas join 17 other states that approved of St. Louis-based Centene Corp’s (NYSE: CNC) acquisition of WellCare (NYSE: WCG). This latest round of approvals brings the total count of insurance departments that have signed off on the merger to 24.
ST. LOUIS and TAMPA, Fla., Oct. 18, 2019 /PRNewswire/ -- Centene Corporation (CNC) ("Centene") and WellCare Health Plans, Inc. (WCG) ("WellCare") today announced that the insurance departments of Arizona, Connecticut, Georgia, Ohio and Texas have now also approved Centene's pending acquisition of WellCare, bringing the total number of states to approve the transaction to 24. "We are making important progress in our merger process and are pleased that state insurance regulators continue to see the benefits that our combination will bring to recipients and communities," said Michael F. Neidorff, Centene's Chairman, President and Chief Executive Officer. The companies continue to expect that the transaction will be completed by the first half of 2020.
Health care stocks, one of the worst performing sectors, could be poised to outperform even as election turmoil heats up next year. Now, better-than-expected earnings from both UnitedHealth Group Inc. (UNH) and Johnson & Johnson (JNJ) have highlighted health care companies' strong earnings amid a dim overall corporate profit outlook. Health care companies have strong underlying businesses, a factor becoming more attractive in the market as investors shift away from “riskier” assets and more expensive, loss-making companies. And from a valuation perspective, the weakness in the health care space has led many investors to buy health care stocks, which are selling at discounted prices.
ST. LOUIS and DEERFIELD, Ill. , Oct. 17, 2019 /PRNewswire/ -- Centene Corporation (NYSE: CNC), Walgreens and RxAdvance today announced a strategic partnership to introduce an innovative model for pharmacy ...
The hospital system said it pulled out of the insurers' networks but they are still representing PeaceHealth as being in-network.
Concerns over rising interest rates and expected further rate increases have hit several stocks hard during the fourth quarter of 2018. Trends reversed 180 degrees during the first half of 2019 amid Powell's pivot and optimistic expectations towards a trade deal with China. Hedge funds and institutional investors tracked by Insider Monkey usually invest a […]