|Bid||56.87 x 800|
|Ask||57.07 x 1200|
|Day's Range||54.58 - 57.51|
|52 Week Range||45.44 - 74.49|
|Beta (3Y Monthly)||1.32|
|PE Ratio (TTM)||21.83|
|Earnings Date||Jul 23, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||73.67|
Centene shares are spiking after Dow Jones reported that hedge fund Third Point has built a stake in Centene. CNBC's Dom Chu reports.
Third Point LLC wants the Clayton-based managed health care provider to considering selling itself before spending $17.3B to acquire Tampa-based WellCare, according to the Wall Street Journal
While the activist hedge fund confirms it has a financial position in Centene, neither the reason nor the size of the stake could be determined. One report earlier in the day said Loeb and his partners at Third Point want the company to consider selling itself before shelling out $15.3 billion on WellCare. Daniel Loeb's Third Point has built a stake in Centene CNC as the health insurer works to complete its previously announced purchase of WellCare Health Plans WCG .
Shareholders will vote June 24 on acquisition that would create a new power player in managed health care with 22 million members across 50 states
ST. LOUIS and TAMPA, Fla., May 23, 2019 /PRNewswire/ -- Centene Corporation (CNC) ("Centene" or the "Company") and WellCare Health Plans, Inc. (WCG) ("WellCare") today announced the filing of the definitive joint proxy statement and prospectus with the U.S. Securities and Exchange Commission in connection with Centene's pending acquisition of WellCare. The joint proxy statement is being mailed to Centene and WellCare stockholders on or about May 24, 2019.
We are upbeat about Medtronic's (MDT) successful execution of growth strategies such as therapy innovation, globalization and increase in economic value.
In his "No-Huddle Offense" segment of his very popular Mad Money program, Jim Cramer answered the question of what investors should be buying as we brace for both a prolonged trade war and a possible slowdown in our economy. The managed care stocks had been crushed after several Democratic presidential candidates began calling for a single-payer model that promises "Medicare for all." But Cramer noted then, and now, that these proposals simply don't have enough support in Washington to make them a reality. In the daily bar chart of UNH, below, we can see a rally to a December zenith and a zig-zag decline to an April low.
Reports indicate a pair of hedge funds believe Centene can do better than its proposed $17.3B deal for WellCare if it were to find a buyer for itself.
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.
ST. LOUIS , May 13, 2019 /PRNewswire/ -- Centene Corporation (NYSE: CNC) today issued a reminder that it will host an investor meeting, including a question-and-answer session, on Friday, June 14, 2019 ...
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Analyst Ralph Giacobbe upgraded Anthem, Centene, and UnitedHealth to Buy from Neutral, and says the selloff is overdone.
Value investing seek to capitalize on inefficiencies in the market and have the potential to deliver higher returns with lower volatility compared with growth and blend counterparts.
Rumors are again rumbling around Louisville-based health care and insurance company Humana Inc. as two hedge funds mull opposing a health insurance mega-merger. Newswire service Reuters reported Monday that two hedge funds — Corvex Management LP and Sachem Head Capital Management LP — may oppose St. Louis-based Centene Corp.'s proposed $17.3 billion acquisition of Tampa, Fla.-based WellCare Health Plans Inc. Both companies are giants in the commercial and government-backed health plan industry. The report states that the hedge funds have stakes in Centene and believe that the company may be able to do more to find out if another company, such as Humana (NYSE: HUM), would be interested in acquiring Centene.
The world of activism is always…well, active. Logically. Looking at the current most interesting moves by activist hedge funds, Lion Point Capital, Corvex Management LP, and Sachem Head Capital Management LP come into the picture. Starting with Lion Point Capital that was launched four years ago by Didric Cederholm, who previously worked as an executive […]
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 in this company's sector is expanding 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 $840 million. Additionally, the rate of outflows appears to be accelerating. Economic sentimentPMI by IHS Markit | PositiveAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Healthcare sector is rising. The rate of growth is strong relative to the trend shown over the past year, and is accelerating. Credit worthinessCredit default swapCDS data is not available for this security.Please send all inquiries related to the report to email@example.com.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 hedge funds believe that Centene may be able to do more to find out if another company such as Humana Inc would be interested in acquiring it, the sources said. The hedge funds are seeking to take advantage of the fact that Centene needs to secure approval from its shareholders for the WellCare deal, according to the sources, who asked not to be identified because the matter is confidential.