Centene Corp Del Stock Price, News & Analysis

Centene Corporation (NYSE: CNC) announced a public offering of $1.8 billion in senior notes, which includes an add-on to its existing 2.450% senior notes due 2028 and new senior notes due 2031. The proceeds will be used to redeem all outstanding 5.375% senior notes due 2026 and related costs. The offering is conducted under an effective shelf registration statement with the SEC, and leading financial institutions are acting as joint book-running managers. No obligations are created for redemption notices at this stage.

Centene Corporation (NYSE: CNC) reported its Q2 2021 financial results, revealing a diluted loss per share of $(0.92) and adjusted diluted EPS of $1.25. Total revenues for the quarter reached $31.025 billion, marking a 12% increase year-over-year. The health benefits ratio was 88.3%, a rise from 82.1% compared to Q2 2020, with SG&A expenses decreasing to 7.9%. Notably, Centene set aside a $1.25 billion legal settlement reserve. As of June 30, 2021, managed care membership stood at 25.4 million, reflecting a growth of 3% year-over-year.

Centene Corporation (NYSE: CNC) appointed Colin Toney as Executive Vice President of Mergers and Acquisitions, effective immediately. Toney, who previously served as Senior Vice President, brings extensive M&A experience, having executed over 25 transactions worth over $30 billion. His appointment follows the resignation of Jesse Hunter, the former Chief Strategy Officer, effective July 31, 2021. Centene continues to focus on strategic growth and development within its healthcare services portfolio, aiding nearly one in fifteen individuals in the U.S.

Centene Corporation (NYSE: CNC) has announced an organizational enhancement to create the Office of the President (OOP), which includes Michael Neidorff, Brent Layton, and Sarah London, effective immediately. This change aims to recognize the company's size and scale, enhance leadership capabilities, and support growth and innovation. Neidorff continues as Chairman and CEO, while Layton and London retain their respective roles overseeing critical areas of the company. Centene remains committed to its members and shareholders, focusing on delivering high-quality healthcare services.

BetterInvesting Magazine has named Amazon (NASDAQ: AMZN) as its "Stock to Study" and Centene (NYSE: CNC) as its "Undervalued Stock" for the September 2021 issue, aiming to inform and educate investors. This selection is part of BetterInvesting's commitment to empower individuals towards financial independence. The organization has been providing investment education for nearly 70 years. More details on Amazon and Centene's investment potential can be found through BetterInvesting's online tools.

The Centers for Medicare & Medicaid Services (CMS) announced that U.S. Medical Management (USMM) and its affiliate, Visiting Physicians Association (VPA), achieved significant improvements in patient care and cost savings for homebound elderly patients. In the sixth year of the Independence at Home (IAH) Demonstration, VPA practices were responsible for around 60% of the program's participants, leading to $16.6 million in savings. Over six years, they saved more than $86 million while enhancing quality measures. Nine out of eleven VPA practices qualified for shared savings incentive payments.

Centene Corporation (NYSE: CNC) will release its 2021 second quarter financial results on July 27, 2021, at 6 a.m. ET, followed by a conference call at 8:30 a.m. ET. CEO Michael F. Neidorff and CFO Drew Asher will present the results. Investors can participate by calling 1-877-883-0383 or via audio webcast on Centene's website. A replay of the call will be available for 12 months on the company's investor relations page.

Centene Corporation (NYSE: CNC) has priced its public offering of $1.8 billion in 2.450% senior notes due 2028, expected to close around July 1, 2021. Proceeds will partially fund the acquisition of Magellan Health and cover related expenses. If the acquisition does not close, proceeds will be used for debt repayment and general corporate purposes. The notes are senior unsecured obligations and will not be guaranteed by subsidiaries. J.P. Morgan, Barclays, BofA Securities, Truist Securities, and Wells Fargo Securities are joint book-running managers for this offering.

Centene Corporation (NYSE: CNC) has announced a public offering of $1.8 billion in senior notes due 2028. The proceeds will primarily finance Centene's acquisition of Magellan Health Inc. and cover related fees. Importantly, the offering's closing is not contingent on the acquisition's completion. If the acquisition does not proceed, funds will be allocated for debt repayment and general corporate purposes. J.P. Morgan, Barclays, BofA Securities, Truist Securities, and Wells Fargo Securities are managing the offering. Potential investors should review the prospectus for more details.