Elevance hits 52-week high after Q1 earnings [Seeking Alpha]
Centene Corporation (CNC)
Last centene corporation earnings: 4/28 06:00 am
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Source: Seeking Alpha
It is the latest health insurer to exceed Wall Street expectations with financials against an improving backdrop for medical expenses in managed care. Early this week, market leader UnitedHealth ( UNH ) also topped expectations with its Q1 financials, as its medical care ratio, the portion of premiums spent on healthcare costs, improved from the preceding quarter. Elevance ( ELV ) said its benefit expense ratio in Q1 improved 20 basis points to 85.6%, which stood ahead of 86.1% in the Bloomberg consensus. The company said that the outperformance was mainly driven by premium rate adjustments implemented to cover medical cost trends. However, shares of its Medicaid peers, Centene ( CNC ) and Molina Healthcare ( MOH ), rose in reaction. Meanwhile, ELV's operating revenue grew ~1% YoY to $42.3B as its premium revenue exceeded expectations, adding $35.7B to the topline despite a ~1% YoY drop. However, its Medicaid membership fell ~22% YoY as state-level eligibility reviews resumed
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News
- Centene Corporation (NYSE:CNC) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Why Centene (CNC) is a Top Momentum Stock for the Long-Term [Yahoo! Finance]Yahoo! Finance
- Fidelis Care Behavioral Health Grant Applications Now Open to Providers and Organizations Across New York State [Yahoo! Finance]Yahoo! Finance
- Centene Co. (NYSE: CNC) had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $81.00 to $82.00. They now have a "hold" rating on the stock.MarketBeat
- Are You a Value Investor? This 1 Stock Could Be the Perfect Pick [Yahoo! Finance]Yahoo! Finance
CNC
Earnings
- 4/26/24 - Beat
CNC
Sec Filings
- 4/29/24 - Form 4
- 4/26/24 - Form 10-Q
- 4/26/24 - Form 8-K
- CNC's page on the SEC website