Centene Corporation - CNC STOCK NEWS

Centene Corporation (NYSE: CNC) announced the sale of a majority stake in U.S. Medical Management, LLC (USMM) to Rubicon Founders and other partners, retaining a minority interest. This strategic move aims to enhance USMM's reach in home-based healthcare, an area where it has demonstrated cost savings of $154 million for Medicare beneficiaries. Proceeds from the sale will be used for a stock repurchase program, indicating Centene's focus on shareholder value. The transaction is pending regulatory approval and customary closing conditions.

Centene Corporation (NYSE: CNC) announced its participation in the Bernstein Second Annual Operational Decisions Conference, scheduled for November 3-4, 2021. The virtual presentation takes place on November 3 at 3:30 p.m. Eastern Time. Interested parties can access a live audio webcast through the company's website, with a replay available post-event.

Centene, a Fortune 25 company, focuses on providing integrated healthcare services, catering to underserved populations including Medicaid and Medicare members, and operates in international markets.

Centene Corporation (NYSE: CNC) will hold its 2022 Financial Guidance and Investor Meeting on December 10, 2021, in a hybrid format. The meeting, starting at 8:30 a.m. ET, will take place in New York City and include a live webcast on their website. Key executives, including Michael F. Neidorff, will present financial insights. Centene aims to disclose its 2022 financial guidance earlier that morning. The company focuses on providing high-quality healthcare services to under-insured individuals and has a significant presence in Medicaid and Medicare programs.

Centene Corporation (NYSE: CNC) reported Q3 2021 financial results with diluted EPS of $0.99 and adjusted diluted EPS of $1.26 on revenues of $32.4 billion, an 11% increase from Q3 2020. Managed care membership grew to 26.5 million, a 5% rise. Health benefits ratio was 88.1%, up from 86.4% a year earlier, while SG&A expense ratio declined to 8.8%. Operating cash flow reached $1.8 billion. The company also announced expansions in Medicare Advantage offerings for 2022 and key leadership changes, aligning with strategic priorities.

Wellcare, a subsidiary of Centene Corporation, has received a prestigious 5-Star Rating from the Centers for Medicare & Medicaid Services (CMS) for the 2022 rating year. This recognition places Wellcare among five Medicare Advantage plans in California to achieve such a distinction. This is the third consecutive year Wellcare has secured a rating of four stars or higher. The rating reflects Wellcare's commitment to enhancing the health of its Medicare members through quality care and customer service, and allows for year-round member enrollments.

Wellcare by Health Net has announced that two of its Medicare contracts in California received a 4-Star Rating from the Centers for Medicare & Medicaid Services (CMS) for 2021. This rating, reflecting quality and member experience, recognizes Wellcare's commitment to improving member health. As the Medicare footprint expands, the company aims to enhance care delivery through reinvestment in services. The Medicare Annual Enrollment Period runs from October 15 to December 7, 2021, providing beneficiaries the chance to enroll in plans.

Wellcare, a subsidiary of Centene Corporation, achieved a 4.5-Star Rating from the Centers for Medicare & Medicaid Services (CMS) for the Rating Year 2022. This rating reflects Wellcare's commitment to high-quality Medicare services in Florida. The CMS Star Ratings guide beneficiaries in selecting health plans based on factors like clinical care and member feedback. Wellcare President Nathan Landsbaum emphasizes the dedication of their employees and providers. Centene plans to unify various Medicare brands under the Wellcare name starting January 1, 2022, enhancing service delivery across the country.

Centene Corporation (NYSE: CNC) announced a multi-year partnership with Charlotte FC, designating it as the official health insurance partner for the upcoming 2022 season. This collaboration aims to enhance community health and engagement among soccer fans in the Carolinas, featuring initiatives such as the Centene Community Section at Bank of America Stadium and support for local programs like Greater Goals and Meals on the Move. This partnership aligns with Centene's mission to provide accessible care to over 25 million members nationwide while reinforcing its commitment to the Charlotte community.

Centene Corporation (NYSE: CNC) announced the retirement of board member David L. Steward, effective October 6, 2021. Steward, who served since 2003, cited personal commitments as his reason for stepping down. His departure comes as Centene continues to refresh its board, having appointed new members, including Sarah London as Vice Chairman in September. Chairman and CEO Michael Neidorff expressed gratitude for Steward's 18 years of leadership, emphasizing the company's commitment to diversity on its board and the importance of strong governance for future growth.