Centene Corporation Reports First Quarter 2020 Results
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Centene (CNC) PT Raised to $85 at Cantor Fitzgerald
April 28, 2020 1:18 PM EDTCantor Fitzgerald analyst Steven Halper raised the price target on Centene (NYSE: CNC) to $85.00 (from $80.00) while maintaining an Overweight rating.
The analyst commented, "We reiterate our Overweight rating on CNC shares, and raise our price target to $85 from $80. Before the open on Tuesday,... More
Centene (CNC) Misses Q1 EPS by 13c, Revenues Beat; Raises FY20 Revenue Guidance, Maintains FY20 EPS Outlook
April 28, 2020 6:05 AM EDTCentene (NYSE: CNC) reported Q1 EPS of $0.86, $0.13 worse than the analyst estimate of $0.99. Revenue for the quarter came in at $26.03 billion versus the consensus estimate of $24.3 billion.
First Quarter Highlights
On January 23, 2020, Centene acquired all of the issued and outstanding shares of WellCare Health Plans, Inc. (WellCare). The transaction is valued at approximately $19.6 billion, including the assumption of debt. The Centene and WellCare combination creates a premier healthcare enterprise focused on government-sponsored healthcare programs. Our consolidated financial statements as of and for the three months ended March 31, 2020 reflect WellCare operations beginning January 23, 2020.March... More