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Centene Corp (CNC.N)

CNC.N on New York Stock Exchange

93.78USD
20 Nov 2017
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Latest Key Developments (Source: Significant Developments)

Centene says civil investigative demand was issued to co's unit, Health Net Federal Services by U.S. DoJ in Oct
Tuesday, 24 Oct 2017 06:54am EDT 

Oct 24 (Reuters) - Centene Corp :Centene says in October 2017, civil investigative demand was issued to co's unit, Health Net Federal Services by U.S. Department of Justice - SEC filing.Centene says company is complying with civil investigative demand and believes it has been meeting its contractual obligations.  Full Article

Centene reports Q3 earnings per share $1.16
Tuesday, 24 Oct 2017 06:00am EDT 

Oct 24 (Reuters) - Centene Corp ::Centene corporation reports 2017 third quarter results & updates 2017 guidance.Reports Q3 2017 earnings per share $1.16.Q3 adjusted earnings per share $1.35.Q3 earnings per share $1.16.Q3 revenue $11.9 billion versus i/b/e/s view $11.78 billion.Q3 earnings per share view $1.25 -- Thomson Reuters I/B/E/S.‍health benefits ratio (hbr) of 88.0% for Q3 of 2017, compared to 87.0% in Q3 of 2016​.September 30, 2017 managed care membership of 12.3 million, an increase of 874,900 members, or 8% compared to Q3 of 2016​.Sees fy 2017 total revenues $47.4 billion - $48.2 bln‍​.Sees fy 2017 gaap diluted eps $4.04 - $4.18‍​.Sees fy 2017 adjusted diluted eps $4.86-$5.04‍​.Sees 2017 health benefits ratio ‍​between 87 percent to 87.4 percent.As a result of uncertainties surrounding csr payments, guidance for fy does not include any impact of the defunding of csr subsidies‍​.Expect lack of csr payments to have $0.07 - $0.12 per diluted share impact on 2017 earnings​.Fy2017 earnings per share view $4.95, revenue view $47.24 billion -- Thomson Reuters I/B/E/S.  Full Article

Centene ‍comments on updated Medicare Star quality ratings for 2018 ​
Wednesday, 11 Oct 2017 07:58am EDT 

Oct 11 (Reuters) - Centene Corp :Centene ‍comments on updated Medicare Star quality ratings for 2018 rating year published by Centers for Medicare and Medicaid Services​.Centene Corp says ‍2018 rating year will affect quality bonus payments for Medicare Advantage plans in 2019​.Centene Corp says "we ‍are working to evaluate and mitigate potential impact on company's revenue in 2019 as a result of lowered 2018 rating"​.  Full Article

Centene announces early termination of Hart-Scott-Rodino waiting period in connection with planned acquisition of Fidelis Care
Monday, 2 Oct 2017 08:00am EDT 

Oct 2 (Reuters) - Centene Corp ::Centene announces early termination of Hart-Scott-Rodino waiting period in connection with planned acquisition of Fidelis care.Centene Corp - planned acquisition of Fidelis Care is expected to close in Q1 of 2018.  Full Article

Centene Corp's unit says received national health plan accreditation
Tuesday, 19 Sep 2017 11:00am EDT 

Sept 19 (Reuters) - Coordinated Care::Coordinated Care, unit of Centene Corporation, says received national health plan accreditation from national committee for quality assurance​.  Full Article

Centene to enter New York through transaction with Fidelis Care
Tuesday, 12 Sep 2017 04:36pm EDT 

Sept 12 (Reuters) - Centene Corp :Centene Corporation to enter New York through transaction with Fidelis Care.Centene Corp - deal for ‍$3.75 billion​.Centene Corp - ‍signed a definitive agreement under which Fidelis Care will become Centene's health plan in New York state​.Centene Corp - ‍transaction expected to be significantly accretive to Centene's EPS​.Centene Corp - ‍Centene expects to generate 2018 pro-forma total revenues of over $60 billion assuming a January 1, 2018 closing date​ for deal.Centene Corp - ‍intends to fund purchase price with $2.3 billion of new equity, including share consideration, and $1.6 billion of new long-term debt​.Centene Corp - ‍upon closing of transaction, Patrick J. Frawley will continue to lead Fidelis Care as Chief Executive Officer​.Centene Corp - ‍Centene expects to achieve $25 million of pre-tax net synergies in year 1 and $100 million run-rate synergies beginning in year 2 from deal​.Centene Corp - ‍transaction is expected to generate immediate accretion to year 1 GAAP earnings per share​.Centene Corp - ‍upon closing of transaction, Patrick J. Frawley will continue to lead fidelis care as chief executive officer​.Centene Corp - ‍Centene intends to fund purchase price with $2.3 billion of new equity, including share consideration, and $1.6 billion of new long-term debt​.Centene Corp - ‍transaction is not contingent upon financing and Centene has secured full $3.75 billion in committed bridge financing​.  Full Article

Centene Corp reports Q2 adjusted earnings per share $1.59
Tuesday, 25 Jul 2017 06:20am EDT 

July 25 (Reuters) - Centene Corp :Reports Q2 2017 earnings per share $1.44.Centene corporation reports 2017 second quarter results & raises 2017 guidance.Q2 adjusted earnings per share $1.59.Q2 earnings per share $1.44.Q2 revenue $12 billion versus i/b/e/s view $11.69 billion.Q2 earnings per share view $1.32 -- Thomson Reuters I/B/E/S.Centene corp - june 30, 2017 managed care membership of 12.2 million, an increase of 788,300 members, or 7% compared to q2 of 2016.Centene corp - qtrly total revenue $11,954 million versus $10,897 million.Centene corp - health benefits ratio (hbr) of 86.3% for q2 of 2017, compared to 86.6% in q2 of 2016.Centene corp sees 2017 total revenues $ 46.4 billion - $47.2 billion.Q2 revenue view $11.69 billion -- Thomson Reuters I/B/E/S.Sees 2017 gaap diluted eps $3.96 - $4.29.Sees 2017 health benefits ratio 87.0 % to 87.4 %.Fy2017 earnings per share view $4.80, revenue view $46.82 billion -- Thomson Reuters I/B/E/S.Centene corp - q2 of 2017 includes a $0.17 per diluted share net benefit related to reconciliation of 2016 risk adjustment under affordable care act.Sees 2017 adjusted diluted eps $ 4.70 - $ 5.06.  Full Article

Centene plans to launch health insurance marketplace product in Missouri for 2018
Friday, 30 Jun 2017 08:00am EDT 

June 30 (Reuters) - Centene Corp :Centene corp - plans to launch its health insurance marketplace product, ambetter, in missouri for 2018.  Full Article

Centene's Mississippi subsidiary selected for MississippiCAN contract
Tuesday, 20 Jun 2017 08:00am EDT 

June 20 (Reuters) - Centene Corp :Centene's Mississippi subsidiary selected for MississippiCAN contract.Centene -Pending regulatory approval, new 3-year agreement, which also includes option of two one-year extensions, is expected to commence in mid-2018.Centene Corp says under new contract, Magnolia Health will provide healthcare services to members under MississippiCAN program.  Full Article

Centene says will expand its offerings in 2018 health insurance marketplace
Tuesday, 13 Jun 2017 08:00am EDT 

June 13 (Reuters) - Centene Corp -:Centene Corp says expanding its offerings in 2018 health insurance marketplace, or exchange.Centene Corp says planning to enter Kansas, Missouri and Nevada in 2018, and expanding its footprint in six existing markets.  Full Article

BRIEF-Centene Corp ‍announced appointments of several executives

* Centene Corp says ‍announced "enhanced" organizational structure and appointments of several executives, effective November 16​