|Bid||53.10 x 800|
|Ask||53.55 x 1100|
|Day's Range||53.10 - 54.15|
|52 Week Range||45.44 - 74.49|
|Beta (3Y Monthly)||1.02|
|PE Ratio (TTM)||20.56|
|Earnings Date||Jul 23, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||73.50|
A prominent proxy firm on Wednesday recommended that shareholders vote in favor of Centene Corp.’s $17.3 billion acquisition of WellCare Health Plans.
Senior Judge Richard Leon sent shares in drug store chain CVS (NYSE:CVS) lower after saying he might try to stop its $69 billion merger with Aetna (NYSE:AET), a health insurer. CVS announced the deal in December 2017. Since then, CVS stock is down over 25%. It was due to open for trade June 12 at about $54 per share. CVS' market cap of $70 billion is now just 36% of its 2018 revenue, which was $194 billion.Source: Mike Mozart via FlickrLeon told CVS' and Aetna's lawyers to "cancel their summer vacation," arguing the Department of Justice barely considered what adding 21 million customers could do for CVS' Caremark, a Pharmacy Benefit Manager (PBM).Oral arguments will be held July 17, a ruling coming shortly after. CVS has already agreed to sell its Medicare Part D plan, the only overlap with Aetna, to Wellcare, which in turn is being bought by Centene (NYSE:CNC).InvestorPlace - Stock Market News, Stock Advice & Trading Tips The Question of CostsCentene's involvement begs the main question raised by the merger, which is whether the deal can cut healthcare costs.Centene's market advantage is cost visibility. Its business model is to profit in Medicare and Medicaid by owning clinics and other facilities its covered patients use. It was a big winner on the Obamacare exchanges, where it could offer much lower prices than standard insurance plans.The American Hospital Association opposes the CVS-Aetna merger, while supporting mergers between hospital groups, arguing that hospitals aren't the cause of health care inflation. * 10 Stocks That Every 30-Year-Old Should Buy and Hold Forever They're right. Drugs are. Combining PBMs and insurers is how the industry is fighting drug costs.CVS plans to turn 1,500 stores into "HealthHubs," after the merger, with labs, nurses and dieticians to treat chronic conditions like diabetes, representing 75% of America's health care bill.CVS has been preparing itself for a favorable outcome since February, when it reached the agreement with the Department of Justice Judge Leon is now reviewing. The Question of CompetitionLeon's objections are centered on Caremark, but that unit's problems were behind the merger in the first place.The PBM model was upended four years ago when UnitedHealth Group (NYSE:UNH), the largest private insurer, bought Catamaran, another PBM, for its own OptumRx unit.The deal made the stand-alone PBM market untenable. Since then, Express Scripts, the largest PBM, was acquired by Cigna (NYSE:CI), an Aetna rival. That merger, and the CVS-Aetna tie-up, followed failed attempts by Aetna to merge with Humana (NYSE:HUM) and by Cigna to merger with Anthem (NASDAQ:ANTM). Having failed at horizontal mergers because of their size (despite UnitedHealth being bigger than either combination), the second-tier players moved toward vertical mergers, hoping to compete through cost control.Thus, Leon seems intent on stopping a train that has already left the station. UnitedHealth, Centene and Cigna own PBMs, and he's going to stop CVS-Aetna because CVS owns one? The Bottom Line on CVS StockNot all mergers work. CVS' own acquisition of Omnicare, a long-term care provider, caused it take a $3.9 billion write-down in the second quarter of last year, and a net loss for all of 2018. * 7 U.S. Stocks to Buy With Limited Trade War Exposure But given how far insurers have gone along the road to matching income with outgo, the Aetna merger was looking like a winner. The delays have pushed CVS shares down enough to give its 50 cent per share dividend a yield of 3.82%, even though absent of write-offs, it covers that dividend with earnings two to three times over each year.The Leon delay looks like a good opportunity for income investors to grab a bargain.Dana Blankenhorn is a financial and technology journalist. He is the author of the mystery thriller, The Reluctant Detective Finds Her Family, available at the Amazon Kindle store. Write him at email@example.com or follow him on Twitter at @danablankenhorn. As of this writing, he did not hold a position in any of the aforementioned securities. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 High-Quality Cheap Stocks to Buy With $10 * 7 U.S. Stocks to Buy With Limited Trade War Exposure * 6 Growth Stocks That Could Be the Next Big Thing Compare Brokers The post Can CVS Stock Overcome the Latest Wrench in Its Aetna Merger? appeared first on InvestorPlace.
Institutional Shareholder Services has shown support for Centene Corporation's planned acquisition of smaller rival WellCare Health Plans Inc by recommending shareholders favor the deal, the health insurers said on Wednesday. Centene in March said it would buy WellCare for $15.27 billion, in a move to bulk up its government-backed Medicare and Medicaid businesses while reducing exposure to Obamacare healthcare exchanges. "We expect, in the short term Centene stock will be volatile, with risk arbitrage funds shorting the name," she added.
ST. LOUIS and TAMPA, Fla., June 12, 2019 /PRNewswire/ -- Centene Corporation (CNC) ("Centene") and WellCare Health Plans, Inc. (WCG) ("WellCare") today announced that leading independent proxy advisory firm Institutional Shareholder Services ("ISS") recommends that Centene and WellCare stockholders vote "FOR" all transaction-related proposals at the respective special meetings of stockholders regarding Centene's pending acquisition of WellCare. As previously announced, the Centene Special Meeting of stockholders to vote on the shares of Centene common stock to be issued in connection with the transaction is scheduled to take place on June 24, 2019, at 10 a.m. Central Time and will be held at Centene Plaza, 7700 Forsyth Boulevard, St. Louis, Missouri.
Riding high on a robust revenue stream and solid streamlining measures, Molina (MOH) holds immense potential to garner benefits for investors.
Centene Corp NYSE:CNCView full report here! Summary * ETFs holding this stock have seen outflows over the last one-month * Bearish sentiment is low * Economic output for the sector is expanding but at a slower rate Bearish sentimentShort interest | PositiveShort interest is low for CNC with fewer than 5% of shares on loan. The last change in the short interest score occurred more than 1 month ago and implies that there has been little change in sentiment among investors who seek to profit from falling equity prices. Money flowETF/Index ownership | NegativeETF activity is negative. Over the last one-month, outflows of investor capital in ETFs holding CNC totaled $7.69 billion. Additionally, the rate of outflows appears to be accelerating. Economic sentimentPMI by IHS Markit | NegativeAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Healthcare sector is rising. The rate of growth is weak relative to the trend shown over the past year, however, and is easing. Credit worthinessCredit default swapCDS data is not available for this security.Please send all inquiries related to the report to firstname.lastname@example.org.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
The 700+ hedge funds and famous money managers tracked by Insider Monkey have already compiled and submitted their 13F filings for the first quarter, which unveil their equity positions as of March 31. We went through these filings, fixed typos and other more significant errors and identified the changes in hedge fund portfolios. Our extensive […]
ST. LOUIS , June 6, 2019 /PRNewswire/ -- Centene Corporation (NYSE: CNC) announced today it will present at the Goldman Sachs 40 th Annual Global Healthcare Conference, to be held June 11-13, 2019 , at ...
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Donald Trump made a number of contentious statements during his visit to Britain this week, but his assertion that the UK’s National Health Service would be “on the table” in discussions about any post-Brexit US-UK trade agreement was by far the most controversial. Britons see their taxpayer-funded, free-at-the-point-of-use health system not just as a source of medical treatment but as a vital expression of national values of equity and compassion. The US health system, in contrast, is reviled as its antithesis because it links treatment to the ability to pay.
GlobalSTL will play matchmaker on Wednesday between 16 international startups hoping to land a lucrative deal with some of St. Louis’ major players in the health care industry.
Stocks that moved substantially or traded heavily on Monday: Cypress Semiconductor Corp., up $4.25 to $22.07 German chipmaker Infineon is buying the company for more than $10 billion in cash. Centene Corp., ...
The Nasdaq Composite index, heavily weighted towards tech stocks, fell sharply Monday on reports Alphabet and Facebook are facing Federal probes of their business practices. sank on reports of an anti-trust probe and an issue that caused traffic congestion across key parts of its network over the weekend.
The three major U.S. stock indexes declined on Monday on weaker-than-expected economic data, while shares of Alphabet, Facebook and Amazon.com fell sharply on fears the companies are the targets of U.S. government antitrust regulators, putting pressure on the tech-laden Nasdaq. The benchmark S&P 500 swung in and out of negative territory as investors also eyed the latest comments around the U.S. trade battles with both China and Mexico as well as U.S. President Donald Trump's decision Friday to end preferential trade treatment for India.
Is a Centene-Humana deal in the works?Source: Shutterstock Recent rumors claiming that a Centene-Humana deal is in the works have been shot down. The killing of this rumor comes directly from Humana (NYSE:HUM), which says it has no plans of taking over Centene (NYSE:CNC).The official statement from Humana rejecting the idea of a Centene-Humana deal comes in the form of a filing with the U.S. Securities and Exchange Commission. The company has this to say in its filing.InvestorPlace - Stock Market News, Stock Advice & Trading Tips"Humana Inc.'s (the "Company") long-standing policy is not to comment on rumors or speculation regarding possible M&A activity. However, in light of the significant investor speculation and persistent market rumors regarding the Company's intentions with respect to pursuing a combination with Centene Corporation ("Centene"), the Company has chosen to make a one-time, limited exception to its no-comment policy (which continues in effect) and confirm that the Company will not make a proposal to combine with Centene as an alternative to Centene's proposed transaction with WellCare Health Plans, Inc. The Company does not intend to make any further statement regarding the foregoing." * 7 Bank Stocks to Leave in the Vault It doesn't get much more clear than that. Now that the rumors of a Centene-Humana deal are dead, CNC stock is taking a beating.CNC stock was down 9% and HUM stock was up 1% as of noon Monday. CNC stock is up 2% and HUM stock is down 13% since the start of the year. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 10 Heavily Shorted Stocks to Sell -- Because the Bears Are Right * 7 Bank Stocks to Leave in the Vault * 7 Stocks for You to Profit From (Legal) Insider Trading As of this writing, William White did not hold a position in any of the aforementioned securities.Compare Brokers The post Centene-Humana Deal? Nope. CNC Stock Slides on the News appeared first on InvestorPlace.
Centene shares are tumbling after Humana took the rare step of publicly refuting reports that it's interested in buying the company. Centene Corp., based in St. Louis, is in the midst of a $15 billion takeover of WellCare, another insurer specializing in government funded health coverage. Humana said in a prepared statement Monday that it will not make a bid for Centene, which specializes in running state-based Medicaid coverage programs.
An unusual SEC filing by health-insurance provider Humana was sending shares of rival health insurance company Centene tumbling.
Humana said in a regulatory filing Monday that it has no designs on Centene, following a push for a combination from activist investors that opposed the WellCare deal. Centene shares fell 7.5% to $53.43 at 9:39 a.m. in New York. Humana gained 5.2% to $257.63.
Shares of health insurer Centene were down sharply Monday after rival Humana said that it would not place a bid for the company. Humana shares were rising 3.9% in trading. "Humana Inc.'s long-standing policy is not to comment on rumors or speculation regarding possible M&A activity.
As we head into the 2020 election campaign, health care is a top area of interest for voters. In 2019, Americans spent $3.65 trillion dollars. EmblemHealth CEO, Karen Ignagni, joins Yahoo Finance to explain what she thinks needs to be done to lower the cost.
FedEx is under pressure as China is launching an investigation into the delivery giant. The investigation comes after FedEx diverted packages sent from Chinese tech giant Huawei. China claims the diversions are related to the ongoing trade tensions with the U.S. Yahoo Finance's Ines Ferre breaks down how the stock is moving, along with other names seeing pressure in early trading Monday.