|Bid||0.00 x 1100|
|Ask||290.24 x 800|
|Day's Range||289.90 - 296.55|
|52 Week Range||220.63 - 324.99|
|Beta (3Y Monthly)||1.32|
|PE Ratio (TTM)||28.90|
|Earnings Date||Jul 29, 2019 - Aug 2, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||312.40|
The merger and acquisitions space is looking strong, topping $40 billion in deals for the first Monday in June, according to recent data. Sal Bruno, Chief Investment Officer at IndexIQ, joins Seana Smith on 'The Ticker' to discuss how this ETF can diversify investor portfolios.
The $17.3 billion planned merger of Centene Corp. and WellCare Health Plans received approval Monday by shareholders of both companies – leaving the deal to now face federal and state regulators before it can be finalized.
The $15.27 billion buyout of smaller rival WellCare would help Centene bulk up its government-backed Medicare and Medicaid businesses. As the Trump administration steps up its efforts to strike down the healthcare law introduced by former President Barack Obama, the merger would also help Centene reduce its exposure to Obamacare healthcare exchanges. Analysts have noted that the health insurer would be among the most vulnerable companies if the law were to be overturned as Centene's Obamacare business accounts for about 40% of its earnings.
Shareholders of Centene Corp and WellCare Health Plans Inc voted in favor of a merger of the health insurers, setting the stage for the creation of a major new player in government-sponsored healthcare plans. The $15.27 billion buyout of smaller rival WellCare would help Centene bulk up its government-backed Medicare and Medicaid businesses. As the Trump administration steps up its efforts to strike down the healthcare law introduced by former President Barack Obama, the merger would also help Centene reduce its exposure to Obamacare healthcare exchanges.
ST. LOUIS and TAMPA, Fla., June 24, 2019 /PRNewswire/ -- Centene Corporation (CNC) ("Centene") and WellCare Health Plans, Inc. (WCG) ("WellCare") today announced that the stockholders of both companies approved all proposals regarding Centene's pending acquisition of WellCare pursuant to the definitive merger agreement between the parties. At the special meeting of Centene's stockholders held today in St. Louis, Centene stockholders voted to approve proposals of the pending transaction with WellCare.
President Donald Trump will sign an executive order aimed at requiring hospitals to be more transparent about prices before charging patients for healthcare services, Secretary of Health and Human Services Alex Azar said on Monday. The executive order will direct HHS to issue a rule that will mandate hospitals to disclose in an "easy-to-read, patient-friendly format" what prices patients and insurers will actually end up paying, Azar said. The order will ultimately require healthcare providers and insurers to provide patients with information about the out-of-pocket costs they'll face before they receive healthcare services, he said.
WellCare Health Plans Inc. What the company does: Founded in Tampa, WellCare Health Plans Inc. is one of Tampa Bay's largest public companies. The company (NYSE: WCG) focuses primarily on providing government-sponsored managed care services to families, children, seniors and individuals with complex medical needs primarily through Medicaid, Medicare Advantage and Medicare Prescription Drug Plans, as well as individuals in the Health Insurance Marketplace. On March 27, Centene Corp. (NYSE: CNC) acquired WellCare in a $17.3 billion deal.
Banking high on wise strategic measures and a favorable operating performance, Magellan Health (MGLN) can be added to your portfolio.
TAMPA, Fla., June 20, 2019 /PRNewswire/ -- WellCare Health Plans, Inc. (WCG) CEO Ken Burdick has won a Glassdoor Employees' Choice Award honoring the Top CEOs in 2019. Glassdoor, one of the world's largest job and recruiting sites, released its annual award recognizing the top CEOs employees love working for in countries throughout North America and Europe. Among chief executives recognized by U.S. employees, Burdick received an impressive approval rating of 91% based on the anonymous and voluntary reviews of WellCare associates shared on Glassdoor throughout the past year.
In the absence of any changes to the Federal Reserve funds rate, and the relatively predictable language surrounding the decision, investors were willing to build on Tuesday's progress. On Wednesday, the S&P 500 gained another 0.30%, albeit in modest volume.Source: Allan Ajifo via Wikimedia (Modified)Shopify (NYSE:SHOP) was the day's most noteworthy winner, up 7.6% on the heels of news that it would be establishing a fulfillment and distribution network akin to the one built by indirect rival Amazon (NASDAQ:AMZN). China's electric carmarker Nio (NYSE:NIO) logged an even bigger win though, up roughly 10% between the regular hours and after-hours session, continuing a rebound effort that started to take shape three days ago, somewhat coinciding with the launch of its ES6 crossover vehicle.Mattel (NASDAQ:MAT) was among the notable losers. The toy company's stock fell more than 5% after it officially ended merger negotiations with privately held MGA Entertainment. MGA's CEO Isaac Larian subsequently called Mattel insolvent, saying it can't be salvaged. The market listened.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 'Buy-and-Hold' Stocks to Own Forever As Thursday's action gets going, however, it's the stock charts of WellCare Health Plans (NYSE:WCG), Nordstrom (NYSE:JWN) and CF Industries Holdings (NYSE:CF) that emerge as the most interesting prospects. Here's why, and what to look for. CF Industries Holdings (CF)In late April, CF Industries Holdings was on the verge of a major breakout move. Volume was strong and forward progress was palpable. The ceiling ahead was thick and strong, but could have proven catalytic if CF could punch through.However, the April effort ended up petering out before getting over the technical hurdle. In fact, CF Industries fell all the way back to an established technical floor around $39. But, the breakout effort that took shape during the first half of this month has finally blasted past the ceiling in question. Although it looks like a little profit-taking may be in store, if CF can hold above the ceiling it makes a renewal of the rally effort all the more likely. Click to Enlarge * The resistance level that was finally broken is $45.42, marked with a red dashed line, though the white 200-day moving average line was also an important ceiling that has been put in the rearview mirror. * Wednesday's lull was telling, but as long as the $45.42 level, once a ceiling, becomes a floor, the odds of another bullish leg are strong. * As the weekly chart illustrates, this choppy progress is all part of a much bigger uptrend that extends back to 2016. WellCare Health Plans (WCG)A month ago, WellCare Health Plans was featured as a budding breakout candidate. Although a critical ceiling had yet to even be tested, key moving averages were stepping up as support levels. While more volatility was in store, the bullish case was strengthening.Things have panned out exactly as the charts suggested they would. There's still a good chance of a near-term pullback, and if the bulls don't play their cards right, they could squander the opportunity. Nevertheless, the potential here is too good to ignore. The key is when and where the bulls make their next stand in the face of any headwind. * 6 Cloud Gaming Stocks to Buy for 2020 and Beyond Click to Enlarge * The big victory since the last look is the move above $289.50, marked with a red dashed line, which until this month had been a ceiling. * Also, in the meantime, the purple 50-day moving average line crossed above the white 200-day line … a so-called golden cross that portends more gains. * It's not an ideal golden cross, however. The 200-day moving average line is actually pointed downward, partially suggesting there's some lingering long-term weakness. * The weekly chart shows this is all part of a move within a rising trading channel, framed by blue and yellow lines. This leaves room for WCG to climb to $320, or higher, if it continues to gain traction. * Although compelling as-is, it might be wise to wait and see if WellCare can bounce back from any upcoming dip back below $289.50. Nordstrom (JWN)One good day does not make or break a trend. But, all trend reversals start with one day. Nordstrom may have had such a day yesterday.The 3.2% gain was admittedly easy to make, and barely scratched the surface of a multi-month downtrend that shaved nearly 50% of the stock's price seen in November of last year. There's also a massive amount of repair work that would need to be done to make this the beginning of a long-awaited turnaround. But, some of the clues are starting to pile up, and it's clear where the biggest lines in the sand are. Click to Enlarge * Most noteworthy of Wednesday's bar is the volume surge behind the buying. A lot of bulls suddenly started to pile in for reasons well beyond the market's mostly bullish tide. * The daily chart also indicates the $33.42 level, marked with a white dashed line, is turning into a technical ceiling. That level will need to be hurdled before any progress is made. * The budding uptrend may only be an effort to fill in the gap left behind in March, the upper value of which is $36.65, marked in yellow. But, the effort to do that could actually put a more prolonged buying effort into motion. * Zooming out to the weekly chart, it's clear that the current oversold condition indicated by the RSI line frequently coincided with major bottoms.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about James at his site, jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 Blue-Chip Stocks to Buy for a Noisy Market * 5 Strong Buy Biotech Stocks for the Second Half * 6 Stocks Ready to Bounce on a Trade Deal Compare Brokers The post 3 Big Stock Charts for Thursday: CF Industries, Nordstrom and WellCare Health Plans appeared first on InvestorPlace.
Company to Fill 100 Full-Time Pharmacy Positions to Support Regional Hub in Phoenix PHOENIX and TAMPA, Fla. , June 19, 2019 /PRNewswire/ -- WellCare Health Plans, Inc. (NYSE: WCG) is seeking to fill 100 ...
WellCare Health Plans’ top leaders have accepted executive roles with Centene Corp., the St. Louis-based health care giant that announced in March that it would acquire the Tampa-based company in a $17.3 billion cash and stock transaction. Kenneth Burdick, CEO of WellCare (NYSE: WCG) and Drew Asher, chief financial officer, have signed two-year agreements with Centene to serve as executive vice presidents. The CEO, under the terms of Centene’s Stock Incentive Plan, will receive a target amount equal to $7 million.
TAMPA, Fla., June 17, 2019 /PRNewswire/ -- Points of Light, the world's largest organization dedicated to volunteer service, has named WellCare Health Plans, Inc. (WCG) one of the 50 most community-minded companies in America for 2019. The Civic 50 provides a national standard for superior corporate citizenship and showcases how companies can use their time, skills and resources to impact their communities. "The notion of giving back to the communities WellCare serves is intrinsically embedded in the very fabric of our company," said Rhonda Mims, WellCare's executive vice president and chief public affairs officer and president of the WellCare Community Foundation.
Debt carries the burden of repayment with additional interest in the future. So prudent investors should avoid companies with large debt loads
A prominent proxy firm on Wednesday recommended that shareholders vote in favor of Centene Corp.’s $17.3 billion acquisition of WellCare Health Plans.
Banking on a rising top line and health service business, UnitedHealth (UNH) holds great promise to garner benefits for investors.
Banking on improving revenues and strategic acquisitions, Teladoc (TDOC) holds great potential to garner benefits for investors.
WellCare Health Plans, Inc. (WCG) is looking like an interesting pick from a technical perspective, as the company is seeing favorable trends on the moving average crossover front.
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.