Log in
Login
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nyse  >  Centene Corp    CNC

Delayed Quote. Delayed  - 07/22 10:01:57 pm
75.39 USD   +3.27%
09:20p CENTENE : UnitedHealthcare losing big military health contract
07:06p CENTENE : Tricare drops UnitedHealthcare from new contracts worth $5..
04:58a CENTENE : UnitedHealthcare losing big military health contract
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 
The feature you requested does not exist. However, we suggest the following feature:

Centene : UnitedHealthcare losing big military health contract

share with twitter share with LinkedIn share with facebook
share via e-mail
0
07/23/2016 | 09:20pm CEST

UnitedHealthcare is losing a large federal contract to provide health care to military members, veterans and their families.

The U.S. Department of Defense announced this week that a division of St. Louis-based Centene Corp. has been selected to provide managed care support to the Department of Defense Tricare program across 21 western states starting in 2017.

UnitedHeathcare currently has the contract for the west region. The new contract for Centene has a value of up to $17.7 billion over five years.

The Minnetonka-based health insurer said it is evaluating next steps and will be participating in the governments debrief process.

We remain committed to serving the health care needs of our countrys military service members, retirees and their families, UnitedHealthcare said in a statement.

Past contract awards in the Tricare program have drawn protests from losing insurers that sometimes have resulted in changes.

A Pentagon spokesman did not return a call seeking comment.

In a note to investors Friday, analyst Sheryl Skolnick with Mizuho Securities USA said she wondered if UnitedHealthcares poor execution at the contracts outset was a factor in the decision. Care providers and patients complained in 2013 about delays in getting referrals reviewed and authorized.

Unless UnitedHealthcare successfully protests the award, the insurer stands to lose a contract where it provides administrative services for about 3 million people, Skolnick wrote. But she added her belief that the contract features significantly lower margins than similar arrangements where UnitedHealthcare provides only administrative services.

On Thursday, the Defense Department announced the award for Centene, and another award for Kentucky-based Humana with a value of up to $40.5 billion.

Military.com reported that the contracts are part of a plan to reduce the number of Tricare regions from three to two starting as early as mid-2017.

Under the new plan, the east region will be managed by Humana, which currently manages the south region, according to Military.com. The west will be managed by Health Net that currently manages the north region. That would leave UnitedHealthcare with no contract.

The website quoted Vice Adm. Raquel Bono, a director of the Defense Health Agency, as saying: Weve been doing this now for almost 20 years, and in each generation of our contract weve learned something new. We really wanted to make sure that our beneficiaries have the benefit of a more simplified, straightforward process.

(c) 2016 Daily News Egypt. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on CENTENE CORP
09:20p CENTENE : UnitedHealthcare losing big military health contract
07:06p CENTENE : Tricare drops UnitedHealthcare from new contracts worth $58 billion
04:58a CENTENE : UnitedHealthcare losing big military health contract
07/22 CENTENE : Subsidiary Awarded TRICARE West Region Contract
07/22 CENTENE : Subsidiary Awarded TRICARE West Region Contract
07/21 CENTENE : St. Louis Regional Chamber backs Centene expansion
07/21CENTENE CORP : half-yearly earnings release
07/20 HEALTH NET FEDERAL SERVICES : Earns Center of Excellence from BenchmarkPortal
07/19 U.S. antitrust officials set to challenge Anthem, Aetna deals - source
07/11 WellCare Health Plans, Centene Reportedly Offer To Buy Aetna Medicare Assets
More news
Sector news : Managed Healthcare - NEC
07/22DJU.S. Sues To Block Insurance Megadeals -- WSJ
07/22DJWHAT'S NEWS : Business & Finance -- WSJ
07/21DJAntitrust Suits Could Upend Health Insurers' Strategies
07/21DJU.S. Files Lawsuits Challenging Health Insurer Deals -- 3rd Update
07/21DJU.S. Files Lawsuits Challenging Health Insurer Deals -- 2nd Update
More sector news : Managed Healthcare - NEC
News from SeekingAlpha
07/20 United Health Today, Centene And Humana Tomorrow
07/11 The REIT Big Bang
07/11 WALL STREET BREAKFAST : Q2 Earnings Season Kicks Off
07/10 WellCare, Centene make offers for Aetna assets
07/01 Healthcare ratings - upgrades/downgrades
Advertisement
Financials ($)
Sales 2016 39 711 M
EBIT 2016 1 480 M
Net income 2016 496 M
Debt 2016 -
Yield 2016 -
P/E ratio 2016 26,02
P/E ratio 2017 17,18
Capi. / Sales 2016 0,32x
Capi. / Sales 2017 0,28x
Capitalization 12 852 M
More Financials
Chart CENTENE CORP
Duration : Period :
Centene Corp Technical Analysis Chart | CNC | US15135B1017 | 4-Traders
Full-screen chart
Technical analysis trends CENTENE CORP
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 81,2 $
Spread / Average Target 7,7%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Michael F. Neidorff Chairman, President & Chief Executive Officer
Jeffrey A. Schwaneke Chief Financial Officer & Executive Vice President
Ken Yamaguchi Chief Medical Officer & Executive Vice President
Mark J. Brooks Chief Information Officer & Senior Vice President
David L. Steward Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
CENTENE CORP14.56%12 852
UNITEDHEALTH GROUP INC22.14%136 621
AETNA INC11.41%42 233
ANTHEM INC2.51%37 587
CIGNA CORPORATION-0.23%37 451
HUMANA INC-1.38%26 238
More Results