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CNC

Centene

$54.17

-0.82 (-1.49%)

, WCG

WellCare

$288.61

-2.28 (-0.78%)

08:33
06/12/19
06/12
08:33
06/12/19
08:33

Centene's pending acquisition of WellCare recommended by ISS

Centene (CNC) and WellCare (WCG) reported that independent proxy advisory firm Institutional Shareholder Services - ISS - recommends that Centene and WellCare stockholders vote 'for' all transaction-related proposals at the respective special meetings of stockholders regarding Centene's pending acquisition of WellCare. The Centene Special Meeting of stockholders to vote on the shares of Centene common stock to be issued in connection with the transaction is scheduled to take place on June 24. All stockholders of record of Centene common stock as of the close of business on May 8 will be entitled to vote their shares. The WellCare Special Meeting of stockholders to vote on the transaction is scheduled to take place on June 24.

CNC

Centene

$54.17

-0.82 (-1.49%)

WCG

WellCare

$288.61

-2.28 (-0.78%)

  • 14

    Jun

  • 24

    Jun

  • 24

    Jun

  • 23

    Jul

CNC Centene
$54.17

-0.82 (-1.49%)

05/10/19
05/10/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. 3D Systems (DDD) upgraded to Neutral from Underweight at JPMorgan with analyst Paul Coster noting the stock is down 25% this week after posting "lackluster" Q1 results. 2. Jones Lang LaSalle (JLL) upgraded to Buy from Neutral at Goldman Sachs with analyst Andrew Rosivach saying the company's earnings declined in Q1 due to tough comps, but this should reverse quickly. 3. Ford (F) upgraded to Buy from Neutral at BofA/Merrill with analyst John Murphy stating the company's earnings are starting to hit a "sustainable inflection" due to favorable product cadence in the North America market and its restructuring efforts. 4. Whirlpool (WHR) upgraded to Buy from Neutral at Longbow with analyst David MacGregor seeing earnings upside from better than expected North American margin performance, a "gradually improving" environment in the EMEA and a favorable cyclical turn in Latin America. 5. Anthem (ANTM), Centene (CNC), and UnitedHealth (UNH) upgraded to Buy from Neutral at Citi with analyst Ralph Giacobbe the magnitude of the selloff in managed care stocks on fears of Medicare for All has been "extreme and overdone". This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/16/19
COWN
05/16/19
NO CHANGE
COWN
Move lower in managed care stocks appears overdone, says Cowen
Cowen analyst Charles Rhyee lowered his target multiple for the managed care group slightly from recent historical levels, but said he believes the recent weakness in the space on concerns around "Medicare for All," the rebate rule and the Texas ACA decision appears overdone. The discount for managed care stocks relative to the broader market has risen to a multi-year high, but he argues that underlying market fundamentals are stronger than in the pre-ACA era and Rhyee contends that there is "still plenty of growth left" in the managed care space, particularly in government-sponsored business. Stocks in the group include Anthem (ANTM), Cigna (CI), Centene (CNC), Humana (HUM), Molina Healthcare (MOH), UnitedHealth (UNH) and WellCare (WCG).
06/03/19
BMOC
06/03/19
DOWNGRADE
Target $304
BMOC
Market Perform
WellCare downgraded to Market Perform from Outperform at BMO Capital
BMO Capital analyst Matt Borsch downgraded WellCare Health Plans (WCG) to Market Perform from Outperform with an unchanged price target of $304. The analyst sees Centene (CNC) as the better stock to own ahead of the pending merger. There is also the possibility of deal failure, which would leave a standalone investment in WellCare that would probably include less takeout premium than prevailed pre-merger, Borsch tells investors in a research note.
06/03/19
CANT
06/03/19
NO CHANGE
Target $83
CANT
Overweight
Centene weakness due to Humana disclosure 'overdone,' says Cantor Fitzgerald
Cantor Fitzgerald analyst Steven Halper notes that Humana (HUM) released an 8-K filing confirming it will not make a proposal to acquire Centene (CNC). With speculation around Humana's involvement casting doubt on Centene's pending merger with WellCare (WCG), the analyst says the news increases his confidence that the merger will be completed by the third quarter of 2020, and continues to believe that the company's merger with WellCare makes sense and should create significant value. Halper expects Centene-WellCare will have to divest certain Medicaid assets given the overlap in some states, but he believes that the acquisition will ultimately be completed by the company's estimated timeline. The analyst has an Overweight rating and $83 price target on Centene's shares.
WCG WellCare
$288.61

-2.28 (-0.78%)

05/07/19
SBSH
05/07/19
NO CHANGE
SBSH
Citi sees low likelihood of Centene walking from WellCare deal
Amid reports suggesting shareholders could challenge Centene's (CNC) acquisition of WellCare (WCG), and Humana (HUM) possibly being interested in a takeover of Centene if the WellCare deal was dropped, Citi analyst Ralph Giacobbe says he's be surprised to see the deal unravel. Further, he'd be equally surprised to see Humana come over the top for Centene after its Medicaid win in Florida and recent commentary citing optimism in its organic direction. That said, there is a scarcity of Medicaid assets, and Humana has discussed its interest in dual and other higher acuity Medicaid populations, Giacobbe tells investors in a research note. Nonetheless, the analyst ultimately sees a low likelihood of Centene walking from the WellCare deal.

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OPHLY

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Bank of Ireland

$0.00

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DOC

Physicians Realty Trust

$18.27

0.095 (0.52%)

05:23
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HTA

Healthcare Trust

$29.18

0.16 (0.55%)

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  • 09

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HR

Healthcare Realty Trust

$33.14

0.26 (0.79%)

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  • 25

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SCRYY

Scor

$0.00

(0.00%)

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FMS

Fresenius Medical

$39.49

1.175 (3.07%)

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HPQ

HP Inc.

$20.63

0.1 (0.49%)

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DELL

Dell Technologies

$53.39

1.88 (3.65%)

05:15
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FNMA

Fannie Mae

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FMCC

Freddie Mac

$0.00

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$197.87

-0.65 (-0.33%)

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JBLU

JetBlue

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-0.21 (-1.09%)

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Voyager Therapeutics

$27.87

0.05 (0.18%)

, SNY

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$44.11

0.99 (2.30%)

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$27.87

0.05 (0.18%)

SNY

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$44.11

0.99 (2.30%)

NBIX

Neurocrine

$85.47

-0.28 (-0.33%)

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ORCL

Oracle

$52.69

-0.19 (-0.36%)

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