20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine." A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Healthcare company Centene Corporation's (NYSE:CNC) second-quarter (Q2) profits for 2023 grew to $1 billion due to increased enrollment.
The company reported an adjusted EPS of $2.10, up from $1.77 a year ago, beating the consensus of $2.05.
Overall sales increased to $37.61 billion from $35.94 billion, beating the consensus of $36.04 billion.
The premium and service revenues increased by 3% to $34.8 billion, driven by membership growth in the Marketplace business due to strong product positioning, open enrollment results, and overall market and Medicaid growth.
A health benefits ratio of 87% for Q2 2023 represents an increase from 86.7% in the comparable period in 2022.
Centene said total managed care membership increased to 28.41 million, compared to 26.43 million at the end of Q2.
Centene's enrollment in the "commercial marketplace" business to nearly 3.3 million members from 2 million a year ago.
Guidance: Centene raised its full-year earnings forecast to at least $6.45 per share from at least $6.40 compared to the consensus of $6.46.
The company increased its 2023 premium and services revenue forecast range by $1.8 billion to reflect an additional $1 billion of Medicaid and Commercial premiums and $800 million for Medicaid state-directed payments.
The company expects FY23 sales of $147.3 billion-$149.3 billion versus $144.5 billion-$146.5 billion expected earlier and the consensus of $146.5 billion.
Price Action: CNC shares are down 0.64% at $69.50 during the premarket session on the last check Friday.
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20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine." A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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