CenteneNYSE: CNC

ORLANDO, Fla., Oct. 30, 2024 /PRNewswire/ -- AcariaHealth, a top national specialty pharmacy and part of Centene Corporation (NYSE: CNC), received multiple awards at the 2024 National Association of Specialty Pharmacy (NASP) Annual Meeting, which took place in Nashville, Tennessee, from October 6 to 9.

Grants help doctors carry out important programs from the Department of Healthcare Services' Equity and Practice Transformation (EPT) Directed Payment Program. On October 29, 2024, Health Net, a well-established Medi-Cal managed care health plan in California and part of Centene Corporation, announced that it has given $2 million in grants to 47 independent physician practices across the state.

Funding is provided every three months to community organizations and service providers throughout Texas. On October 29, 2024, Superior HealthPlan, a major managed care organization in Texas and part of Centene Corporation, revealed the newest recipients of its grant program for communities and providers.

CNC's results for the third quarter show improvement due to an increase in premiums, thanks to effective product positioning. However, even with higher revenues, a drop in Medicaid membership and rising costs are affecting their profits.

We don't anticipate significant movement in the stock market until the presidential election results are announced.

Centene (CNC) reported quarterly earnings of $1.62 per share, which is higher than the Zacks Consensus Estimate of $1.39 per share. This is a decrease compared to earnings of $2 per share from the same period last year.

On Friday, Centene Corporation reported third-quarter sales of $42.02 billion, which is a 10.5% increase compared to the same period last year. This figure exceeded the expected amount of $37.69 billion.

The health insurance company exceeded expectations for both profits and sales in the last quarter.

Centene announced a profit of $713 million for the third quarter, thanks to increased enrollment in Obamacare and higher premium revenue, which helped offset a significant decline in Medicaid enrollment.