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Stock Market & Financial Investment News

News Breaks
July 1, 2014
16:37 EDTWCGWellCare announces Florida MMA rate decrease
In a regulatory filing, WellCare disclosed that on June 25, WellCare received from the State of Florida’s Agency for Health Care Administration, AHCA, executed Amendment No. 1 to Contract No. FP020, the Florida MMA Contract, between AHCA and WellCare of Florida, a wholly-owned subsidiary of the company which governs the services WellCare of Florida provides under the Managed Medical Assistance component, the MMA program, of Florida’s Statewide Medicaid Managed Care program. Amendment No. 1, which is effective as of June 1, amends and restates Attachments I and II of the Florida MMA Contract to, among other things, reflect an estimated overall 2.2% decrease in the rates payable to WellCare of Florida under the Florida MMA Contract. The rates were amended to reflect changes in the MMA implementation schedule and certain other factors. The company noted, "We estimate that the rate changes will not have a significant impact on our gross margin. The amended rates were reflected in the company’s financial outlook for the year ended December 31 as updated on May 6."
News For WCG From The Last 14 Days
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April 13, 2015
10:58 EDTWCGCigna, Humana seen as potential takeover targets in Managed Care space
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07:33 EDTWCGJefferies sees low probability of WellCare, Centene buyouts
After running several acquisition scenarios for the Managed Care space, Jefferies says potential takeovers of WellCare (WCG) and Centene (CNC) are "hard to justify." The firm estimates acquirers will only be able to generate 1%-3% accretion from buying either company at a 20% premium to current share prices. The deal that makes the most financial sense is Aetna (AET) buying Cigna (CI), Jefferies says today in a note to investors. Also financially attractive would be a buyout of Humana (HUM) by either Anthem (ANTM) or Aetna, the firm adds. After analyzing the Managed Care space, it upgraded this morning shares of UnitedHealth (UNH) to Buy from Hold with a $141 price target. Jefferies also has Buy ratings on Aetna, Anthem, Health Net (HNT) and Molina Healthcare (MOH).
April 7, 2015
08:20 EDTWCGCowen expects managed care stocks to outperform following CMS release
Cowen expects managed care stocks to outperform today following the CMS release outlining better than expected Medicare Advantage rates for 2016. The firm also sees improved FFS growth rates, maintained coding intensity adjustment, and continued HRA payments. Publicly traded companies in the space include Aetna (AET), Cigna (CI), Health Net (HNT), Humana (HUM), and WellCare (WCG).
07:57 EDTWCGManaged care companies likely to rise on CMS news, says Oppenheimer
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07:41 EDTWCG2016 MA rates positive for first time in seven years, says Deutsche Bank
Deutsche Bank notes that for the first time since 2009, Medicare Advantage rates will be positive after the Centers for Medicare and Medicaid Services announced yesterday that final 2016 rates will rise by 1.25%, representing a 220 basis points favorable swing from the preliminary proposed cut of 0.95%. Deutsche says the positive surprise is "somewhat tempered" by the more cautious view on Medicare cost trends provided by the CMS actuaries in the final 2016 rate announcement. The firm expects Humana (HUM), Health Net (HNT) and UnitedHealth (UNH), Aetna (AET) and Anthem (ANTM) to experience Medicare Advantage rate increases.
07:39 EDTWCGSome managed care stocks could be pressured by CMS decision, says Stifel
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April 6, 2015
07:57 EDTWCGLeerink healthcare services analyst holds analyst/industry conference call
Healthcare Services Analyst Gupte discusses the leverage Anthem likely has in its Pharmacy Benefit Manager (PBM) contract with Express Scripts and how it changes after the Catamaran-Optum Rx deal, the synergy potential for the deal between Catamaran and Optum Rx and the likelihood of Cigna-HS remaining with the newly merged Optum Rx-CTRX on an Analyst/Industry conference call to be held on April 6 at 2 pm.

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