Benzinga | Oct 20, 2021 11:06AM EDT

Why Centene Shares Are Rising

Shares of healthcare providers and insurers, including Centene Corp (NYSE:CNC) are trading higher in sympathy with Anthem, which gained after reporting better-than-expected third-quarter results and raising FY21 guidance.

Anthem reported quarterly earnings of $6.79 per share which beat the analyst consensus estimate of $6.39 by 6.3%. Anthem also reported quarterly sales of $35.50 billion which beat the analyst consensus estimate of $35.30 billion by 1%.

Centene is a managed-care organization focused on government-sponsored healthcare plans, including Medicaid, Medicare and individual exchanges. The company serves 4 million users through the Medicare Part D pharmaceutical program.

Centene has a 52-week high of $75.59 and a 52-week low of $57.16.