Centene Corp Del Stock Price, News & Analysis

Centene Corporation (NYSE: CNC) reported its Q1 2021 financial results with a revenue increase of 15%, totaling $30 billion. Diluted EPS reached $1.19, marking a significant rise from $0.08 in Q1 2020. Managed care membership grew to 25.1 million, a 5% increase year-over-year. The health benefits ratio improved to 86.8%, down from 88.0%. The company is raising its full-year guidance, driven by ongoing growth, and anticipates benefits from its acquisition of Magellan Health. Cash flow from operations was $43 million, impacted by delayed premium payments.

Centene Corporation (NYSE: CNC) announced that its subsidiary, 'Ohana Health Plan, has been awarded a new statewide contract by the Hawaii Department of Human Services to administer services for Medicaid and CHIP members. The contract starts on July 1, 2021, and extends through December 31, 2026, with options for three 12-month extensions. Since 2008, 'Ohana has provided services to Hawaii residents, serving around 50,000 members as of December 2020. Centene aims to continue delivering high-quality care and support for individuals with complex healthcare needs in Hawaii.

Centene Corporation (NYSE:CNC) has partnered with YWCA USA to introduce Young Women Choosing Action, a three-year program aimed at empowering girls aged 13 to 19 from low-income families, particularly those of color. Funded by a grant from Centene, the initiative focuses on trauma awareness, healthy relationships, wellness practices, and leadership development. Previously piloted across four YWCA affiliates, the program reflects Centene's commitment to removing health barriers while enriching young women's lives and fostering community engagement.

Centene Corporation (NYSE: CNC) will release its Q1 2021 financial results on April 27, 2021, at 6 a.m. Eastern Time, followed by a conference call at 8:30 a.m. ET. CEO Michael F. Neidorff and CFO Jeffrey A. Schwaneke will host the call. The conference call is accessible via phone or live audio webcast on the company’s website. A replay will be available for 12 months. The Annual Shareholder Meeting will take place virtually on the same day at 11:00 a.m. ET. Centene, a leading healthcare enterprise, focuses on providing integrated healthcare services to under-insured individuals.

Centene Corporation (NYSE: CNC) announced the expiration of the Hart-Scott-Rodino waiting period for its proposed acquisition of Magellan Health as of March 12, 2021. The deal will enhance Centene's whole health capabilities and create a leading behavioral health platform, aiming for improved health outcomes and diversified growth.

The transaction is expected to close in the second half of 2021, pending regulatory approvals and stockholder agreement from Magellan Health.

Centene Corporation (NYSE: CNC) has partnered with the Pro Football Hall of Fame to promote COVID-19 vaccine awareness through public service announcements (PSAs). The campaign, which targets communities of color, features Hall of Famers advocating the importance of vaccination for protecting others. With less than 6% of vaccinated individuals being Black, despite their 13% population representation, the initiative aims to increase vaccination rates. Public health officials emphasize that achieving herd immunity requires about 80% vaccination in the U.S.

Centene Corporation has issued a statement addressing claims made by the Ohio Attorney General, asserting that the allegations are unfounded. The company emphasizes that its pharmacy contracts with the State of Ohio are rigorously reviewed and pre-approved by state agencies. Centene highlights that these services have successfully saved millions for taxpayers by utilizing market-based pharmaceutical pricing. The company expresses its commitment to quality and transparency and is open to addressing any queries from the Attorney General.

Centene Corporation (NYSE: CNC) has appointed Katie Casso as Senior Vice President, Corporate Controller, effective April 1, 2021. This follows the retirement of Christopher Isaak on April 30, 2021. Casso has over 16 years of experience with Centene, progressing from public accounting to leadership roles within the finance department, including her recent position as Vice President, Assistant Controller. Her appointment is expected to continue supporting Centene's growth strategy, while Isaak's contributions are acknowledged as he retires.

Centene Corporation recently participated in No One Eats Alone Day, a nationwide initiative aimed at addressing childhood social isolation, exacerbated by the COVID-19 pandemic. Collaborating with local schools, Centene's health plans organized virtual assemblies, reaching over 23,500 children across 47 schools. The initiative aimed to foster social connections among students, teaching them about the effects of social isolation. In total, more than 1,400 schools engaged in this initiative, impacting over 700,000 children nationwide and emphasizing Centene's commitment to community health and inclusion.