Investors closely monitor insider buys, as they can give hints surrounding the long-term picture.An insider is an officer, director, 10% stockholder, or anyone who possesses internal information because of their relationship with the company. It’s critical to note that insiders have a longer holding period than most, and many strict rules apply to their transactions.Several large-cap companies – Bristol-Myers Squibb (BMY) , Pfizer (PFE) , and Centene (CNC) – have seen recent insider activity. Let’s take a c ...

Core Insights - Sunshine Health, Florida's largest managed care organization and a Centene Corporation company, appointed Charlene Zein as Plan President and CEO effective November 3, 2024 [1][2]. Company Overview - Sunshine Health provides health coverage for over 2.5 million Floridians through its Medicaid, Marketplace, and Medicare products [3]. - The organization is headquartered in Broward County and offers various government-sponsored managed care services, including Medicaid, Long Term Care, and Medicare Advantage [4]. Leadership Background - Charlene Zein has nearly two decades of experience in the healthcare industry and has held various leadership roles at Sunshine Health since joining in 2019 [2]. - Prior to her new role, Zein served as Chief Product President, overseeing all Medicaid, Marketplace, and Medicare products [2]. Growth and Impact - Under Zein's leadership, Sunshine Health experienced significant growth in its Marketplace product and played a key role in Florida's successful Medicaid contract reprocurement [3]. - Zein expressed her commitment to ensuring Floridians have access to high-quality comprehensive healthcare and aims to collaborate with government, provider, and community partners [3].

Health insurers have been getting a lot of heat surrounding the rising costs of Medicare Advantage (MA) plans. Companies like CVS Health Co. NYSE: CVS have seen their medical benefits ratio (MBR) continue to rise, forecasting 90.8%, driven by the rising costs to provide MA plans to seniors. The MBR, also referred to as the health benefits ratio (HBR) and medical costs ratio (MCR), is the percentage of insurance premium payments that are paid out to providers and facilities for medical services. Higher MBR/H ...

ORLANDO, Fla., Oct. 30, 2024 /PRNewswire/ -- AcariaHealth, a leading national specialty pharmacy and a Centene Corporation company (NYSE: CNC), secured several recognitions during the 2024 National Association of Specialty Pharmacy (NASP) Annual Meeting held in Nashville, Tennessee, October 6-9. Leaders from AcariaHealth were highlighted in the NASP 2024 Spotlight Series podcast, offering exclusive insights into what distinguishes us in the specialty pharmacy industry. "The honors we received at the co ...

Grants enable physicians to implement critical Department of Healthcare Services' Equity and Practice Transformation (EPT) Directed Payment Program SACRAMENTO, Calif., Oct. 29, 2024 /PRNewswire/ -- Health Net, one of California's most experienced Medi-Cal managed care health plans and a company of Centene Corporation (NYSE: CNC), announced the awarding of $2 million in grants to 47 independent physician practices throughout California. Here's what the grantees are saying about Health Net's commitment to pro ...

Centene Corporation (CNC) reported third-quarter 2024 adjusted earnings per share (EPS) of $1.62, which outpaced the Zacks Consensus Estimate by 16.6%. However, the bottom line fell 19% year over year.Revenues were $42 billion, which advanced 10.5% year over year. The top line surpassed the consensus mark by 10.9%.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.The quarterly performance benefited on the back of strong Commercial revenue growth, expansion of the Marketplace business ...

Pre-market futures are up after a couple mixed days this week. We appear to be on something of a different trajectory this week — or likely a holding pattern — after a robust early autumn that saw a good start to October after an unseasonably profitable September.But until the General Election on November 5th — and, let’s face it, that whole trading week will likely pass before we know who wins the presidency — we don’t expect much directional impetus in the stock market. Currently, the Dow is +99 points, t ...

Key TakeawaysCentene grew its membership rolls and premium and service revenue in the third quarter, and shares surged Friday.The managed care and health insurance provider beat profit and sales estimates, and boosted its outlook.CEO Sarah London said the company navigated "a dynamic landscape" in the quarter. Centene (CNC) shares surged more than 10% Friday morning as the managed care and health insurance provider's third-quarter results easily beat estimates as it boosted its membership rolls and premium ...

Financial Data and Key Metrics Changes - The company reported third quarter adjusted diluted EPS of $1.62, exceeding previous expectations, driven by tax items shifting into the third quarter [6][24] - Total premium and service revenue for Q3 2024 was $36.9 billion, with a consolidated HBR of 89.2% for the quarter and 87.9% year-to-date [24][25] - The company maintains its full year 2024 adjusted diluted EPS guidance of greater than $6.80, reflecting confidence in financial performance despite market challenges [5][32] Business Line Data and Key Metrics Changes - Medicaid membership stood at approximately 13 million, with a Q3 Medicaid HBR of 93.1%, slightly above Q2 [25][26] - The Medicare segment performed in line with expectations, with a segment HBR of 88.0% and a target revenue for Medicare Advantage in 2025 projected between $14 billion to $16 billion [27][14] - The Marketplace business served 4.5 million members, showing a 22% growth year-over-year, with expectations for pre-tax margins in the range of 5% to 7.5% for 2025 [26][17] Market Data and Key Metrics Changes - The company expects mid-single-digit macro market growth in 2025 for the Marketplace, influenced by regulatory changes and the end of the redetermination process [18][66] - The company anticipates a modest growth in Marketplace membership during the upcoming open enrollment period, with a focus on maintaining margin targets [19][66] Company Strategy and Development Direction - The company is focused on aligning Medicaid rates with acuity, with ongoing discussions with state partners to ensure appropriate rate adjustments [10][11] - The Medicare Advantage business is strategically important, with efforts to improve Stars ratings and reduce SG&A costs to enhance margins [14][28] - The company is leveraging AI to optimize provider contract management, aiming to improve operational efficiency and analytics [20][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the stability of the business outlook for 2024, despite ongoing challenges in the Medicaid landscape [7][32] - The company is optimistic about the potential for EPS growth in 2025, supported by improved Medicaid rates and operational efficiencies [6][32] - Management highlighted the importance of data-driven advocacy in discussions with state partners to ensure alignment of rates with member acuity [10][35] Other Important Information - The company has updated its 2024 guidance, increasing full year premium and service revenue expectations by $2 billion [31] - The company has deployed approximately $1.6 billion on share repurchases year-to-date, reflecting confidence in its financial position [30] Q&A Session All Questions and Answers Question: Medicaid MLR expectations for Q4 - Management indicated that Q3 Medicaid HBR is expected to be the high watermark, with Q4 impacted by rate updates from several states [33][36] Question: Core Medicaid utilization trends - Management noted that the major driver of HBR in Medicaid is the mismatch of rate and acuity, with no significant new trends observed [38][39] Question: Composite rate increases and MLR improvement - Management stated that rate adjustments vary by state, with ongoing efforts to ensure rates match acuity [42][44] Question: Part D business margin expectations - Management expects a 1% margin for the Part D business in 2025, consistent with 2024, but anticipates higher revenue due to IRA changes [60][62] Question: Marketplace growth expectations - Management expects mid-single-digit growth in the Marketplace, influenced by regulatory changes and the end of the redetermination process [66][69]

Friday, October 25, 2024 Pre-market futures are up after a couple mixed days this week. We appear to be on something of a different trajectory this week — or likely a holding pattern — after a robust early autumn that saw a good start to October after an unseasonably profitable September. But until the General Election on November 5th — and, let's face it, that whole trading week will likely pass before we know who wins the presidency — we don't expect much directional impetus in the stock market. Currently ...