On Monday, Centene Corp (NYSE:CNC)’s shares inclined 3.14% to $77.76.
Centene Corp (CNC) will see widening margins as it expands into the fast-growing market for those patients receiving government health benefits who require particularly complex care, an analyst said Monday.
Last week, the St. Louis-based managed care company that specializes in Medicare and other government programs boosted its 2015 earnings forecast about 4 percent to between $2.70 and $2.82 a share.
Analysts on average expect $2.72 a share, according to Thomson Financial Network.
Cantor Fitzgerald
Cantor Fitzgerald’s Joseph France boosted his target on Centene more than 6 percent Monday to $85, maintaining a Buy rating.
France said the company is increasingly pushing into sectors requiring more complex care, counting the government’s Aged, Blind or Disabled Program, long-term care and patients eligible for multiple government-backed healthcare programs.
Centene Corporation operates as a diversified, multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. It operates in two segments, Managed Care and Specialty Services. The Managed Care segment offers Medicaid and Medicaid-related health plan coverage to individuals through government subsidized programs, counting Medicaid, the State children’s health insurance program, long-term care, foster care, and dual-eligible individuals, in addition to aged, blind, or disabled programs.
Flowserve Corp (NYSE:FLS)’s shares dropped -1.77% to $53.30.
Flowserve Corp (FLS) a leading provider of flow control products and services for the global infrastructure markets, declared recently its extensive range of mechanical seals will be featured at ACHEMA 2015, June 15-19, in Frankfurt, Germany.
The Flowserve portfolio of mechanical seals comprises a wide range of single and dual, pusher and bellows designs in component and cartridge configurations. The company offers wet and dry type seals for pumps, compressors, turbines and mixer equipment, in addition to special slurry seals, bearing protection and a complete selection of seal support and auxiliary systems.
Flowserve Corporation designs, manufactures, distributes, and services industrial flow administration equipment worldwide. The company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD), and Flow Control Division (FCD). The EPD segment offers custom and other engineered pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, and related equipment and services, in addition to manufactures gas-lubricated mechanical seals used in high-speed compressors.
At the end of Monday’s trade, Triangle Petroleum Corporation (NYSEMKT:TPLM)‘s shares surged 0.79% to $5.11.
Triangle Petroleum Corporation (TPLM) provides an operational update and reports its first quarter fiscal year 2016 financial results for the three-month period ended April 30, 2015 (“Q1 fiscal 2016″ or “Q1 FY 2016″).
First Quarter Highlights for Fiscal Year 2016 (ended April 30, 2015)
- Quarterly production volumes of ~1,226 Mboe (13,775 Boepd)
- Increasing full fiscal year 2016 production guidance to a range of 11,500-13,500 Boepd
- No change to formerly issued capital expenditure guidance
- Further enhances to production guidance will be considered as fiscal year 2016 progresses
- Triangle USA Petroleum (“TUSA”) driving continued reduction in drilling and completion costs
- Leading edge AFEs $7.3 million as of May 2015
- Merged cash flow from operations (before working capital changes) of $31.4 million, or $0.42 per fully diluted share; Operating cash flow of $39.3 million
- 23% quarter over quarter decrease in merged cash general and administrative expenses
- Merged adjusted revenue of $137.8 million counting $19.5 million of cash receipts from hedge settlements
Segment Operational Update
- TUSA generated $47.8 million of revenue in Q1 FY 2016 not taking into account $19.5 million of cash receipts from hedge settlements as contrast to $60.8 million of revenue in Q1 FY 2015 (-21% y/y). The contribution from year over year production growth partially offset a 54% drop in average pre-hedge realized prices to $38.97/Boe from $84.08/Boe
- Based on realized commodity prices in the month of May, current futures prices, and recent differentials, Q2 FY 2016 pre-hedge realized prices per Boe are trending 20% higher sequentially from Q1 FY 2016 actual pre-hedge realized prices of $38.97/Boe
- Spud 10 gross (7.3 net) and accomplished 5 gross (3.3 net) operated wells with a two-rig operated program in Q1 FY 2016
- Total of 23 gross (18.7 net) operated wells either in progress or waiting on completion as of April 30, 2015
Triangle Petroleum Corporation, an independent energy company, explores for, develops, and produces oil and natural gas resources primarily in the Bakken Shale and Three Forks formations in the Williston Basin of North Dakota and Montana. The company operates through Exploration and Production, and Oilfield Services segments. As of January 31, 2015, it held leasehold interests in about 126,037 net acres in the Williston Basin of North Dakota and Montana.
Blackstone Mortgage Trust Inc (NYSE:BXMT), ended its Monday’s trading session with –0.17% loss, and closed at $29.58.
Blackstone Mortgage Trust Inc (BXMT) declared a dividend of $0.52 per share of class A common stock with respect to the second quarter of 2015. This dividend is payable on July 15, 2015 to stockholders of record as of the close of business on June 30, 2015.
Blackstone Mortgage Trust, Inc., a real estate finance company, originates and purchases senior loans collateralized by properties in North America and Europe. It operates through two segments, Loan Origination and CT Legacy Portfolio. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to U.S. federal income taxes if it distributes at least 90% of its taxable income to its stockholders.
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