We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Centene's (CNC) Ambetter Enhances Offerings With Broward Health
Read MoreHide Full Article
Centene Corporation’s (CNC - Free Report) Health Insurance Marketplace franchise, Ambetter, recently announced its partnership with Broward Health to enhance member access to quality healthcare services in the region. Broward Health is one of the top 10 public healthcare systems in the United States, the addition of which will strengthen Ambetter’s provider network going into 2024.
Centene’s Marketplace business is on an unmatchable growth trajectory as its membership increased by 386,000 new members in the third quarter of 2023. CNC's Marketplace business currently generates more revenues than CNC’s Medicare Advantage business and is expected to rise further in the future. CNC expects membership in the Marketplace business to increase between 200,000 and 300,000 due to the redetermination process, which will be majorly completed by May 2024.
Ambetter’s quality in-provider network, brand value and consistent efforts to enhance its offerings, should act as a tailwind for CNC in both short and long terms. CNC expects its marketplace business revenues to grow by a minimum of $3 billion in 2024. It also expects to improve its marketplace margin to 5-7.5% in 2024.
Broward Health will be offering its services for Ambetter’s products like Ambetter Core, Ambetter Value and Ambetter Select. Floridians can access Broward Health’s services by purchasing health insurance coverage for 2024 in the open enrollment period, running through Jan 15, 2024.
This move bodes well for Centene, as its members will be able to access wellness and preventive services, newborn and maternity care, and emergency, non-emergency and pediatric services. Better health services will eventually result in better health outcomes, enhancing the core value proposition of Centene.
Price Performance
Shares of Centene have gained 11.8% in the past three months compared with the industry’s growth of 10.3%.
DaVita’s earnings surpassed estimates in each of the last four quarters, the average beat being 36.6%. The Zacks Consensus Estimate for DVA’s 2023 earnings indicates a rise of 22.3% from the year-ago reported figure. The consensus mark for revenues suggests an improvement of 3.3% from the year-ago reported figure. The consensus mark for DVA’s 2023 earnings has moved 9.2% north in the past 30 days.
The bottom line of Insulet outpaced estimates in each of the trailing four quarters, the average surprise being 105.1%. The Zacks Consensus Estimate for PODD’s 2023 earnings is pegged at $1.91 per share, which increased more than 27-fold from the prior-year reported figure. The consensus mark for revenues suggests an improvement of 25.9% from the prior-year reported figure. The consensus mark for PODD’s 2023 earnings has moved 0.5% north in the past 30 days.
IRadimed’s earnings surpassed the Zacks Consensus Estimate in each of the last four quarters, the average beat being 11.7%. The Zacks Consensus Estimate for IRMD’s 2023 earnings and revenues suggests an improvement of 36.4% and 22.5% from the respective year-ago reported figures. The consensus estimate for IRadimed’s 2023 earnings has moved 7.9% north in the past 60 days.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Shutterstock
Centene's (CNC) Ambetter Enhances Offerings With Broward Health
Centene Corporation’s (CNC - Free Report) Health Insurance Marketplace franchise, Ambetter, recently announced its partnership with Broward Health to enhance member access to quality healthcare services in the region. Broward Health is one of the top 10 public healthcare systems in the United States, the addition of which will strengthen Ambetter’s provider network going into 2024.
Centene’s Marketplace business is on an unmatchable growth trajectory as its membership increased by 386,000 new members in the third quarter of 2023. CNC's Marketplace business currently generates more revenues than CNC’s Medicare Advantage business and is expected to rise further in the future. CNC expects membership in the Marketplace business to increase between 200,000 and 300,000 due to the redetermination process, which will be majorly completed by May 2024.
Ambetter’s quality in-provider network, brand value and consistent efforts to enhance its offerings, should act as a tailwind for CNC in both short and long terms. CNC expects its marketplace business revenues to grow by a minimum of $3 billion in 2024. It also expects to improve its marketplace margin to 5-7.5% in 2024.
Broward Health will be offering its services for Ambetter’s products like Ambetter Core, Ambetter Value and Ambetter Select. Floridians can access Broward Health’s services by purchasing health insurance coverage for 2024 in the open enrollment period, running through Jan 15, 2024.
This move bodes well for Centene, as its members will be able to access wellness and preventive services, newborn and maternity care, and emergency, non-emergency and pediatric services. Better health services will eventually result in better health outcomes, enhancing the core value proposition of Centene.
Price Performance
Shares of Centene have gained 11.8% in the past three months compared with the industry’s growth of 10.3%.
Image Source: Zacks Investment Research
Zacks Rank & Other Key Picks
Centene currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks from the broader medical sector are DaVita Inc. (DVA - Free Report) , Insulet Corporation (PODD - Free Report) and IRadimed Corporation (IRMD - Free Report) . Each stock presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
DaVita’s earnings surpassed estimates in each of the last four quarters, the average beat being 36.6%. The Zacks Consensus Estimate for DVA’s 2023 earnings indicates a rise of 22.3% from the year-ago reported figure. The consensus mark for revenues suggests an improvement of 3.3% from the year-ago reported figure. The consensus mark for DVA’s 2023 earnings has moved 9.2% north in the past 30 days.
The bottom line of Insulet outpaced estimates in each of the trailing four quarters, the average surprise being 105.1%. The Zacks Consensus Estimate for PODD’s 2023 earnings is pegged at $1.91 per share, which increased more than 27-fold from the prior-year reported figure. The consensus mark for revenues suggests an improvement of 25.9% from the prior-year reported figure. The consensus mark for PODD’s 2023 earnings has moved 0.5% north in the past 30 days.
IRadimed’s earnings surpassed the Zacks Consensus Estimate in each of the last four quarters, the average beat being 11.7%. The Zacks Consensus Estimate for IRMD’s 2023 earnings and revenues suggests an improvement of 36.4% and 22.5% from the respective year-ago reported figures. The consensus estimate for IRadimed’s 2023 earnings has moved 7.9% north in the past 60 days.