Centene Corp Del Stock Price, News & Analysis

Centene Corporation (NYSE: CNC) announced that its California subsidiary, Health Net, has been awarded direct contracts by the California Department of Health Care Services, allowing them to serve Medi-Cal members in 10 counties, including Los Angeles and Sacramento. The new contracts will commence on January 1, 2024. Health Net aims to improve healthcare delivery and health equity for millions of members. The company lifted its projected 2024 adjusted EPS floor to $7.15 from $7.00.

Health Net and Community Health System have renewed their partnership, ensuring Fresno County residents can access Community's three major hospitals under various plans. This agreement guarantees a comprehensive range of services for Health Net members, including those on Medicare and Medi-Cal. Community Health System, the largest in Central Valley, operates key medical facilities, expanding healthcare access for locals. Paul Pakuckas of Health Net emphasized their commitment to continuity of care. This partnership strengthens Health Net's position in the competitive healthcare market, serving approximately 3 million residents across California.

Health Net is providing urgent assistance to its members in Humboldt County following a state of emergency declared by Governor Gavin Newsom due to an earthquake. This initiative ensures members have access to essential prescription medications and healthcare services. Members can obtain emergency supplies at their original pharmacies or call Health Net for assistance. Additionally, Health Net offers telehealth services at no cost, mental health support, and guidance for healthcare providers during this crisis.

Centene Corporation (NYSE: CNC) will present at the JP Morgan 41st Annual Healthcare Conference from January 9-12, 2023, in California. The presentation is scheduled for January 9 at 7:30 a.m. Pacific Time. Investors can access a live audio webcast at this link. A replay will be available on Centene's website under the Investors section. Centene is committed to providing high-quality healthcare services, focusing on underserved populations.

Centene Corporation (CNC) has announced its financial guidance for 2023, projecting adjusted diluted EPS between $6.25 and $6.40, with revenue expectations ranging from $137.4 billion to $139.4 billion. The company aims for a 12% - 15% compound annual growth rate (CAGR) for adjusted diluted EPS in the long term. The Board has approved a $2 billion increase to its stock repurchase program. For 2022, Centene reaffirms its guidance for total revenues between $142.7 billion and $144.7 billion, with adjusted EPS of $5.65 to $5.75.

Centene Corporation (NYSE: CNC) announced significant leadership changes to propel future growth, with Ken Fasola appointed President, succeeding his role as EVP of Health Care Enterprises. Jim Murray becomes COO, enhancing operational effectiveness. Dave Thomas steps into CEO of Markets and Medicaid, while Brent Layton transitions to Senior Advisor as he approaches retirement. Alice H. Chen and Brian LeClaire join as Chief Health Officer and Chief Information Officer, respectively, strengthening the executive team. These changes aim to align talent with Centene's mission of delivering quality healthcare and increasing shareholder value.

Centene Corporation (NYSE: CNC) will host an investor day on December 16, 2022, starting at 8:30 a.m. EST. The event, featuring CEO Sarah London and the management team, includes a live question-and-answer session and will be webcast from the New York Stock Exchange. In-person attendance is by invitation only, but the meeting can be accessed via live webcast on Centene's website. Centene focuses on providing integrated healthcare services to under-insured and uninsured individuals.

Centene Corporation (CNC) has completed the divestiture of Magellan Rx to Prime Therapeutics, aligning with its value creation plan. This move allows Centene to concentrate on its core operations and strategic priorities. Centene had initially acquired Magellan Rx in January 2022 as part of the broader acquisition of Magellan Health. The company continues to emphasize its commitment to delivering high-quality healthcare services, particularly to under-insured and uninsured individuals, while focusing on long-term growth and value creation for its shareholders.