Health insurance company Centene Corp has upgraded its year-over-year earnings forecasts to higher premiums than government-sponsored Medicaid health insurance plans.
The company is performing well in the Obamacare federal market – where it offers insurance programs – so far in the second quarter, as announced.
It now expects earnings of $ 5.55-5.70 per share for the full year, compared to the previous estimate of $ 5.40-5.55 per share.
The company stressed that the BoD has decided to increase its $ 3 billion treasury plan and launch a $ 1 billion debt repurchase program as the insurance company prepares for the upcoming sales of two of its pharmaceutical activities.
Centene said last month it would sell its units for $ 2.8 billion as part of its strategy to move out of the pharmacy supply chain.
Source: Capital
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