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CNC

Centene

$60.52

0.08 (0.13%)

, CVS

CVS Health

$75.38

0.33 (0.44%)

06:07
12/02/19
12/02
06:07
12/02/19
06:07

Centene, CVS Health announce agreement for CVS to acquire IlliniCare

Centene (CNC) and CVS Health (CVS) announced that, in connection with the previously announced merger agreement between Centene and WellCare (WCG), Centene has entered into a definitive agreement under which CVS Health will acquire Centene's Illinois health plan subsidiary, IlliniCare Health Plan, or IlliniCare. The transaction entails the sale of Centene's Medicaid and Medicare Advantage lines of business in Illinois. Centene will retain IlliniCare's Medicare-Medicaid Alignment Initiative, or MMAI, business and IlliniCare's statewide YouthCare foster care contract, set to commence in February 2020. Centene's Ambetter business in Illinois is not affected. The closing of the transaction with CVS Health is subject to U.S. federal antitrust clearance, receipt of Illinois state regulatory approvals and other customary closing conditions, as well as the closing of the Centene-WellCare transaction. As previously announced on March 27, Centene and WellCare agreed to combine in a transaction that will create a healthcare enterprise focused on government-sponsored healthcare programs. The combination has received approvals from insurance and health care departments from 26 states. Completion of the Centene-WellCare transaction remains subject to clearance under the Hart-Scott-Rodino Act, receipt of required state regulatory approvals and other customary closing conditions. Centene and WellCare continue to expect that the Centene-WellCare transaction will be completed by the first half of 2020.The financial terms of this transaction will not be disclosed and the impact to CVS Health earnings once closed is expected to be immaterial.

CNC

Centene

$60.52

0.08 (0.13%)

CVS

CVS Health

$75.38

0.33 (0.44%)

WCG

WellCare

$321.79

-0.11 (-0.03%)

  • 13

    Dec

CNC Centene
$60.52

0.08 (0.13%)

10/30/19
SPHN
10/30/19
NO CHANGE
SPHN
Overweight
Texas STAR+PLUS award removes 'major overhang' on Centene, says Stephens
Stephens analyst Scott Fidel said the announcement of the much anticipated, and long delayed, Texas STAR+PLUS contract awards removes a "major overhang" on Centene (CNC), which he views as among the big winners along with UnitedHealth (UNH). United and Centene added 3 regions and 2 regions, respectively, while Molina Healthcare's (MOH) result was disappointing as it appears to have lost 4 regions on a net basis. Anthem (ANTM) also lost a net 3 regions and incumbent Cigna (CI) has "essentially been replaced" by CVS Health's (CVS) Aetna, added Fidel.
10/23/19
FBCO
10/23/19
NO CHANGE
Target $57
FBCO
Neutral
Centene price target lowered to $57 from $63 at Credit Suisse
Credit Suisse analyst A.J. Rice lowered his price target for Centene to $57 from $63 following quarterly results. The analyst reiterates a Neutral rating on the shares.
11/18/19
RHCO
11/18/19
NO CHANGE
RHCO
Healthcare Services targets raised at SunTrust on visibility under Warren plans
SunTrust analyst David MacDonald raised his price targets on Anthem (ANTM) to $330 from $300, Cigna (CI) to $250 from $230, Centene (CNC) to $77 from $72, CVS (CVS) to $90 from $85, Humana (HUM) to $370 from $350, Molina Healthcare (MOH) to $165 from $155, Tivity Health (TVTY) to $25 from $21, UnitedHealth (UNH) to $335 from $310, and Wellcare (WCG) to $340 from $320. The analyst cites the release of Senator Warren's plans to implement "Medicare For All", which he believes offers additional clarity and allays some investor concerns regarding the sector. MacDonald contends that the plan will offer an early buy-in, comprehensive coverage that is similar to Medicare Advantage, while strengthening the ACA/Medicaid system and offering a transition period to move to Medicare For All. The analyst adds that Managed Care companies will remain a "key part of the healthcare cost solution".
11/21/19
PIPR
11/21/19
NO CHANGE
Target $80
PIPR
Overweight
Centene should be bought on any weakness from NC delay, says Piper Jaffray
Piper Jaffray analyst Sarah James anticipates the current $9.6B North Carolina Caid award will go as planned, just with a slight delay, which she says is not uncommon for Caid contracts. The analyst continues to see Centene (CNC) as undervalued and would be accumulating on any weakness. The contract was delayed as North Caroline failed to pass their general budget before session ended, which is not directed at the Caid contract specifically, James tells investors in a research note. The analyst has an Overweight rating on Centene with an $80 price target.
CVS CVS Health
$75.38

0.33 (0.44%)

11/08/19
MZHO
11/08/19
NO CHANGE
Target $82
MZHO
Buy
CVS Health price target raised to $82 from $71 at Mizuho
Mizuho analyst Ann Hynes raised her price target for CVS Health to $82 from $71 saying that for the third consecutive quarter, the company either met or beat estimates. She sees good execution and keeps a Buy rating on the shares.
11/07/19
RAJA
11/07/19
NO CHANGE
Target $80
RAJA
Strong Buy
CVS Health price target raised to $80 from $75 at Raymond James
Raymond James analyst John Ransom raised his price target for CVS Health to $80 from $75 and reiterated a Strong Buy rating after better than expected Q3 results and $8B in deleveraging since the Aetna deal closed, already nearly $1B higher than the annual estimate. Though the retail pharmacy and PBM markets may be facing headwinds the bar is low, Ransom tells investors in a research note that he thinks CVS is positioned so be a net winner, with the diversification of the payor business not reflected in current valuations.
11/07/19
RHCO
11/07/19
NO CHANGE
Target $85
RHCO
Buy
CVS Health price target raised to $85 from $75 at SunTrust
SunTrust analyst David MacDonald raised his price target on CVS Health to $85 and kept his Buy rating after its Q3 earnings beat and raised FY19 guidance. The analyst says the quarter was highlighted by solid core trends, strong script growth, and robust free cash flows, along with progress in the integration synergies and cost savings from the Aetna merger.
WCG WellCare
$321.79

-0.11 (-0.03%)

10/10/19
JEFF
10/10/19
DOWNGRADE
Target $235
JEFF
Hold
Jefferies downgrades UnitedHealth to Hold, cuts Managed Care price targets
Jefferies analyst David Windley downgraded UnitedHealth (UNH) to Hold from Buy with a price target of $235, down from $300. Managed Care sentiment "turned abruptly negative a year ago and has stubbornly remained there," Windley tells investors in a research note. Further, the political risk causing this won't likely abate for at least another nine months, contends the analyst. In addition to the political overhang, he's concerned UnitedHealth's (UNH) commercial enrollment is at risk to Anthem (ANTM). Along with the downgrade of UnitedHealth, Windley cut his price target for Buy-rated Anthem to $299 from $365, for Buy-rated Centene (CNC) to $53 from $76, for Buy-rated Cigna (CI) to $203 from $233, for Buy-rated Humana (HUM) to $322 from $352, for Buy-rated Molina Healthcare (MOH) to $133 from $173 and for Hold-rated WellCare (WCG) to $264 from $302.
10/10/19
RHCO
10/10/19
NO CHANGE
Target $330
RHCO
Hold
SunTrust 'bullish' across healthcare services space ahead of Q3 results
SunTrust analyst David MacDonald says he remains "bullish" across much of the healthcare services space ahead of third quarter results, citing "solid" core trends, "attractive" secular tailwinds, "robust" M&A and "strong" free cash flow. While he expects ongoing intermittent "chop" as industry noise continues to weigh, he views the risk of meaningful structural change as quite low, continues to favor scaled, integrated providers in the ongoing shift towards value and views valuation risk/rewards as increasingly attractive. The analyst tells investors in a research note that he does not necessarily view Q3 results as a meaningful trigger and thinks improved visibility around the election and Democratic primary is key, MacDonald remains bullish on core fundamentals, sees significant inherent sector drivers and says Managed Care remains a favorite fundamental sector. The analyst raised his price target for Anthem (ANTM) to $330 from $290, on Centene (CNC) to $80 from $72, on Cigna (CI) to $260 from $230, on Humana (HUM) to $340 from $310, on Molina (MOH) to $180 from $165, on UnitedHealth (UNH) to $330 from $310, on WellCare (WCG) to $340 from $320, on Ensign Group (ENSG) to $60 from $44 and Tivity Health (TVTY) to $24 from $21.
10/16/19
MSCO
10/16/19
NO CHANGE
Target $294
MSCO
Overweight
UnitedHealth comments on 2020 eased concerns about MCOs, says Morgan Stanley
Morgan Stanley analyst Ricky Goldwasser noted that concerns over democratic presidential candidates' positions on "Medicare For All" have been weighing on the Managed Care Organization group since April when a bill was officially introduced in congress by Bernie Sanders. However, UnitedHealth (UNH) shares rose sharply, and the MCO group joined in yesterday, after the company reported an in-line Q3 Medical Loss Ratio, or MLR, and gave commentary on 2020 that eased market concerns around fundamentals, Goldwasser said. The analyst, who keeps an Overweight rating on UnitedHealth with a $294 price target, said the next catalyst for the MCO group will be Anthem's (ANTM) earnings report on October 23. Other publicly traded companies in the healthcare insurance space include CVS Health (CVS), Centene (CNC), Cigna (CI), Health Net (HNT), Humana (HUM), Molina Healthcare (MOH) and WellCare (WCG).

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NDSN

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15:19
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$NSD

NASDAQ Market Internals

$0.00

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$NYE

NYSE Market Internals

$0.00

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SPY

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$314.59

1.04 (0.33%)

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$0.00

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FTNW

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$1.37

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TLRD

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$4.96

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NFLX

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$35.40

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