Welcome to our dedicated page for Centene Corporation news (Ticker: CNC), a resource for investors and traders seeking the latest updates and insights on Centene Corporation stock.
Centene Corporation (NYSE: CNC), a Fortune 500 company, is a diversified, multi-national healthcare enterprise that provides a portfolio of services to government-sponsored healthcare programs. The company focuses on under-insured and uninsured individuals, offering benefits under Medicaid, including the State Children's Health Insurance Program (CHIP), aged, blind or disabled (ABD), foster care, long-term care (LTC), and other state-sponsored/hybrid programs as well as Medicare (special needs plans).
Centene operates local health plans and offers an array of health insurance solutions. It contracts with other healthcare and commercial organizations to deliver specialty services including behavioral health management, care management software, correctional healthcare services, dental benefits management, in-home health services, life and health management, managed vision, pharmacy benefits management, specialty pharmacy, and telehealth services. As of June 2023, Centene served approximately 24 million medical members, with a significant portion enrolled in Medicaid (67%), individual exchanges (14%), and Medicare Advantage (6%) plans.
Recently, Centene has been recognized for its contributions in tackling social issues. For instance, on April 8, 2024, Health Net, a Centene subsidiary, contributed $1.3 million to the Mayor's Fund for Los Angeles' We Are LA program, which aims to prevent evictions and combat homelessness. The program has served over 32,000 individuals and families, helping them avoid eviction and maintain stable housing. Moreover, Centene's financial results for the first quarter of 2024 highlighted the company's robust performance, with medical claims liabilities totaling $18.1 billion and a strategic plan for growth focused on increasing access to affordable, high-quality healthcare.
Furthermore, Centene has entered into significant partnerships to improve healthcare accessibility. For example, in Uvalde, Texas, Centene's subsidiary Superior HealthPlan invested $250,000 to allow students access to virtual healthcare through Hazel Health until the 2028–2029 school year. The company has also initiated the MHS Serves program in Indiana, a $12 million health equity initiative aimed at reducing health disparities.
Centene continues to innovate and expand its healthcare solutions, ensuring that under-insured and uninsured individuals receive comprehensive healthcare services. The company's latest strategic moves and partnerships underscore its commitment to transforming healthcare delivery and improving health outcomes for millions of Americans.
Centene Corporation (NYSE: CNC) will present at Bernstein's 37th Annual Strategic Decisions Conference from June 2-4, 2021. The company's session is scheduled for June 3 at 8:00 a.m. EDT, available as a live audio webcast. A replay will be accessible on Centene's investor relations website. As a leading healthcare enterprise, Centene focuses on providing integrated services to under-insured and uninsured individuals across various programs, including Medicaid and Medicare. They prioritize long-term growth and community service.
Centene Corporation (NYSE: CNC) has appointed Suzy DePrizio as Senior Vice President and Chief Marketing Officer, effective immediately. DePrizio, with over 16 years of marketing leadership experience from her tenure at Johnson & Johnson, will spearhead Centene's marketing strategy and brand position. Her previous roles include leading digital transformation at Johnson & Johnson's U.S. Consumer Health business. DePrizio holds a BA from Harvard University and an MBA from Duke University. This appointment is seen as pivotal for enhancing Centene's growth trajectory.
Centene Corporation (NYSE: CNC) will present at the BofA Securities 2021 Healthcare Conference from May 11-13, 2021. The company’s presentation is scheduled for May 12 at 10:15 a.m. EDT. This will be a virtual event, and a live audio webcast can be accessed through Centene’s investor relations site. Following the event, a replay will be available on their website. Centene focuses on providing comprehensive healthcare services to under-insured and uninsured individuals across the nation and emphasizes long-term growth opportunities.
Centene Corporation has appointed Drew Asher as its new Executive Vice President and Chief Financial Officer, effective immediately. Asher, who joined Centene during the WellCare acquisition in January 2020, succeeds Jeffrey A. Schwaneke, who will transition to Executive Vice President of HealthCare Enterprises. Having extensive experience in finance, including a six-year tenure as CFO at WellCare, Asher aims to drive Centene's growth objectives and oversee various financial operations. His appointment reflects the company's commitment to leadership development and operational excellence.
On April 30, 2021, Health Net Federal Services, a subsidiary of Centene Corporation (NYSE:CNC), announced its call center received the Center of Excellence certification from BenchmarkPortal for the ninth consecutive year. This certification recognizes HNFS as among the top 10% of call centers in the U.S., validating its commitment to excellence in customer service. The evaluation was based on key performance indicators, differing from other certifications that focus on process methods. The call center primarily serves TRICARE beneficiaries, providing healthcare support to nearly 2.9 million individuals.
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.
FAQ
What is the current stock price of Centene Corporation (CNC)?
What is the market cap of Centene Corporation (CNC)?
What services does Centene Corporation provide?
Who are Centene Corporation’s primary service recipients?
What recent financial achievements has Centene Corporation reported?
How is Centene addressing social issues such as homelessness?
What partnerships has Centene recently formed to improve healthcare accessibility?
How does Centene Corporation support state-sponsored healthcare programs?
What is the significance of Centene’s MHS Serves program?
How many medical members does Centene serve?
What are some of the specialty services provided by Centene?
How does Centene ensure a local approach in its services?
