Centene Shifts an AcariaHealth Facility to Shelby Township

Centene Corporation CNC recently announced that its specialty pharmacy subsidiary, AcariaHealth, has relocated its Homescripts pharmacy to a new 33,000-square-foot facility in Shelby Township, MI, to enhance patient care and support future growth. The facility aims to improve medication access and adherence for patients with complex conditions through its free goods programs and modernized services.

The move is expected to positively impact Centene by enhancing its specialty pharmacy capabilities and patient care services. By leveraging AcariaHealth’s services and programs, Centene can strengthen its position in the managed care market, potentially leading to increased customer satisfaction and retention and ultimately boosting its overall performance.

The free goods programs offered by AcariaHealth, through its Homescripts pharmacy, provide manufacturer-led medication programs that supply medications at no cost to patients. These programs help patients who face barriers such as high medication costs, lack of insurance coverage, and expiration, loss and theft of medication by offering Patient Assistance, Bridge, Interim, and Replacement services, ensuring access and adherence to necessary medications for conditions like multiple sclerosis, myasthenia gravis and Alzheimer's disease.

This marks AcariaHealth’s second pharmacy relocation this year. It relocated its St. Louis-area pharmacy facility during May-end to a 40,000-square-foot facility in Chesterfield, MO. These moves are providing an expanded space for pharmacy professionals to address a higher number of patients.

Along with providing comprehensive specialized pharmacy benefits and care management services, Centene utilizes AcariaHealth to capture relevant data to measure patient outcomes. This approach helps Centene enhance healthcare technology and streamline its business operations for better efficiency and effectiveness.

CNC’s Price Performance

Centene’s shares have gained 5.5% in the year-to-date period compared with the industry’s 9.8% growth.

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Zacks Rank & Key Picks

Centene currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader Medical space are Universal Health Services, Inc. UHS, Tenet Healthcare Corporation THC and Quest Diagnostics Incorporated DGX. While Universal Health and Tenet Healthcare currently sport a Zacks Rank #1 (Strong Buy) each, Quest Diagnostics carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Universal Health Services’ 2024 bottom line suggests 51% year-over-year growth. UHS has witnessed three upward estimate revisions over the past month against no movement in the opposite direction. It beat earnings estimates in each of the last four quarters, with the average surprise being 14.6%.

The Zacks Consensus Estimate for Tenet Healthcare’s 2024 bottom line is pegged at $10.70 per share, which indicates 53.3% growth from a year ago. During the past month, THC has witnessed two upward estimate revisions against none in the opposite direction. It beat earnings estimates in each of the last four quarters, with the average surprise being 58.5%.

The Zacks Consensus Estimate for Quest Diagnostics’ 2024 full-year earnings implies a 2.1% increase from the year-ago reported figure. DGX beat earnings estimates in each of the last four quarters, with an average surprise of 3.3%. The consensus mark for its current-year revenues is pegged at $9.6 billion, which indicates a 3.3% year-over-year increase.

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Quest Diagnostics Incorporated (DGX): Free Stock Analysis Report
 
Universal Health Services, Inc. (UHS): Free Stock Analysis Report
 
Tenet Healthcare Corporation (THC): Free Stock Analysis Report
 
Centene Corporation (CNC): Free Stock Analysis Report

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