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Health Net awarded Medi-Cal dental contract in California

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ST. LOUIS – Centene Corporation (NYSE: NYSE:), a prominent healthcare enterprise, announced today that its subsidiary, Health Net Community Solutions, has been selected by the California Department of Health Care Services to provide managed dental health care services to Medi-Cal beneficiaries in Los Angeles and Sacramento counties starting July 1, 2025. The contract spans 54 months and marks the continuation of Health Net’s role as a provider of both medical and dental coverage in these regions.

Health Net, currently the sole Medi-Cal plan in the aforementioned counties that offers integrated medical and dental care, manages a network of over 1,000 dental providers. The company serves nearly 385,000 dental members and supports the health care needs of approximately 2.2 million Californians, including more than 1.5 million Medi-Cal members.

Centene CEO Sarah M. London expressed gratitude for the opportunity to support Medi-Cal members’ dental health needs through Health Net’s new contract. Health Net Plan President and CEO Brian Ternan also conveyed the organization’s commitment to improving community health and providing essential dental services.

The selection of Health Net is part of a broader strategy to address social determinants of health, aiming to reduce health disparities, enhance outcomes, and improve access to quality care. Health Net’s whole-person care model is designed to meet the comprehensive needs of its members.

Centene Corporation, a Fortune 500 company, focuses on serving under-insured and uninsured individuals through a variety of government-sponsored and commercial healthcare programs. The company’s approach emphasizes local brands and teams to deliver integrated, high-quality, and cost-effective services.

The information in this article is based on a press release statement.

In other recent news, Centene Corporation reported strong second-quarter earnings, with an adjusted diluted earnings per share (EPS) of $2.42, marking a 15% increase from the previous year. The company also raised its full-year premium and service revenue expectations to between $141 billion and $143 billion, indicating optimism about future growth.

In terms of analyst interactions, Jefferies maintained a Hold rating on Centene but lowered its price target to $72.00 from the previous $74.00, reflecting adjustments to the earnings forecasts for the next two years. Wells Fargo, on the other hand, upgraded its price target for Centene from $81.00 to $93.00, maintaining an Overweight rating on the stock. Similarly, TD Cowen increased Centene’s price target from $80.00 to $89.00, also reaffirming a Buy rating on the stock.

In other company news, Centene expanded its Board of Directors with the appointment of Thomas R. Greco, a seasoned leader with over 40 years of experience in public companies. This appointment is expected to enhance Centene’s consumer marketing expertise, aiding the company’s mission to improve the health of its members. These developments highlight Centene’s commitment to its growth strategy, focusing on improving Medicaid operations and marketplace innovation.

InvestingPro Insights

As Centene Corporation (NYSE: CNC) secures a new contract to provide managed dental health care services in California, the company’s financial health remains a key focus for investors. Centene’s aggressive share buyback program indicates strong confidence from management in the company’s value, which is an important consideration for shareholders.

Moreover, Centene’s position as a prominent player in the Healthcare Providers & Services industry is bolstered by its high shareholder yield, a metric that combines dividend payments and share repurchases to show the total payout to shareholders. Although Centene does not pay a dividend, the share repurchases contribute to this yield, rewarding investors and potentially signaling undervalued stock. With a market capitalization of $39.64 billion and a price-to-earnings (P/E) ratio of 14.26, the company is trading at a valuation that reflects its profitability over the last twelve months.

InvestingPro data provides additional context, showing that Centene is trading at a low revenue valuation multiple, with a price-to-book ratio in the last twelve months as of Q2 2024 at 1.45. This ratio suggests that the stock may be reasonably priced relative to the company’s book value. Additionally, Centene has demonstrated a revenue growth of 4.32% in the same period, showcasing its ability to increase earnings over time.

Investors interested in Centene’s future performance should note that 7 analysts have revised their earnings estimates downwards for the upcoming period, which could impact the stock’s near-term trajectory. Nonetheless, Centene’s fundamental strength is evident in its recent profitability and the expectation of analysts for the company to remain profitable this year.

For those seeking deeper financial analysis and more InvestingPro Tips, there are 11 additional tips available on Centene Corporation at https://www.investing.com/pro/CNC, providing valuable insights for making informed investment decisions.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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Bosnian villagers sift through ruined homes after devastating flash floods

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By Fedja Grulovic

TRUSINA, Bosnia (Reuters) – Women sat on the ground in tears in the Bosnian village of Trusina on Sunday as an excavator dug through the remains of their homes that were destroyed in the country’s deadliest floods in years.

A flash flood swept through the Jablanica area, southwest of Sarajevo on Friday, killing at least 15 people, the cantonal government said, and the search for those missing continued on Sunday.

In Trusina, no people were reported to have died, but houses, orchards and gardens were devastated.

“It is difficult to believe that an orchard, garage, car and another smaller house was here,” Duda Sutlic said “Everything disappeared in 10 minutes.”

“I was happy here. I had a life and I worked hard. Today I have no strength. All we have left now are our pensions – 500 marka ($282.21).”

A meteorologist Nedim Sladic told N1 TV that in under six hours, the region around Jablanica received as much rain as usually falls in three or four months.

Ecologists say the floods in Bosnia have been particularly damaging because years of neglect of river beds, deforestation and uncontrolled construction and exploitation of wood and stone have aggravated the impact of climate change.

Other parts of Europe have also been hard hit by flooding as well as extreme heat and wildfires.

“Everything that my father created and that I have created after him disappeared in 30 minutes,” Admir Poturovic, another resident of Trusina said.

© Reuters. A man walks over a destroyed house after floods and landslides in a village of Trusina, Bosnia and Herzegovina, October 6, 2024. REUTERS/Marko Djurica

“But life goes on. One has to move on” he said.

($1 = 1.7717 marka)

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OceanaGold’s Waihi North and Macraes Listed as Proposed Projects Under the Fast-track Approvals Bill in New Zealand

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VANCOUVER, BC, Oct. 6, 2024 /PRNewswire/ – OceanaGold (OTC:) Corporation (TSX: OGC) (OTCQX: OCANF) (“OceanaGold” or the “Company”) welcomes the inclusion of projects at both our Waihi and Macraes mines in the list of proposed projects under the New Zealand Government’s Fast-track Approvals Bill for regionally and nationally significant infrastructure and development projects.

Yesterday, the New Zealand Government released the names of 149 Listed Projects that will be eligible to apply for approvals through processes under the proposed Fast-track Approvals Act. Included in the list was the Waihi North Project, which includes the highly prospective Wharekirauponga (WKP) proposed underground mine, as well as the Macraes Phase 4 Project, a mine extension permit.

Gerard Bond, President & CEO of OceanaGold, said “I am delighted to see both of our projects on the list for consideration under the new Fast-track Approvals Bill. We welcome a clear and timely regulatory process in New Zealand which supports the development of projects that can provide economic benefits while respecting important environmental, cultural and social protections. Expediting the permitting of our projects will preserve the jobs of 1,000 employees we have in New Zealand, provides new jobs and will deliver wider economic benefits for the local communities and the country.”

The Fast-track Approvals Bill is expected to be passed into law later this year, allowing listed projects to apply directly to a Government-appointed expert panel for final decision.

www.oceanagold.com  

About OceanaGold

OceanaGold is a growing intermediate gold and producer committed to safely and responsibly maximizing the generation of Free Cash Flow from our operations and delivering strong returns for our shareholders. We have a portfolio of four operating mines: the Haile Gold Mine in the United States of America; Didipio Mine in the Philippines; and the Macraes and Waihi operations in New Zealand.

Cautionary Statement for Public Release

Certain information contained in this public release may be deemed “forward-looking” within the meaning of applicable securities laws. Forward-looking statements and information relate to future performance and reflect the Company’s expectations regarding the generation of free cash flow, execution of business strategy, future growth, future production, estimated costs, results of operations, business prospects and opportunities of OceanaGold Corporation and its related subsidiaries. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those expressed in the forward-looking statements and information. They include, among others, the accuracy of mineral reserve and resource estimates and related assumptions, inherent operating risks and those risk factors identified in the Company’s most recent Annual Information Form prepared and filed with securities regulators which is available on SEDAR+ at  www.sedarplus.com  under the Company’s name. There are no assurances the Company can fulfil forward-looking statements and information. Such forward-looking statements and information are only predictions based on current information available to management as of the date that such predictions are made; actual events or results may differ materially as a result of risks facing the Company, some of which are beyond the Company’s control.   Although the Company believes that any forward-looking statements and information contained in this press release is based on reasonable assumptions, readers cannot be assured that actual outcomes or results will be consistent with such statements. Accordingly, readers should not place undue reliance on forward-looking statements and information. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements and information, whether as a result of new information, events or otherwise, except as required by applicable securities laws. The information contained in this release is not investment or financial product advice.    

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Thousands stage pro-Palestinian protests worldwide, on eve of Oct 7 attack that triggered Gaza war

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PARIS (Reuters) – Thousands of pro-Palestinian demonstrators protested in cities around the world on Sunday on the eve of the first anniversary of the deadly Oct. 7 Hamas attack on Israel that triggered the war in Gaza.

Demonstrations were held in major cities from Jakarta to Istanbul to Rabat, and followed protests on Saturday in major European capitals as well as Washington and New York.

“We are here to support the Palestinian resistance,” said protester Ahmet Unal in Istanbul, where thousands assembled.

In Paris, the Jewish community gathered on Sunday to mark one year since the attack by Palestinian militant group Hamas, when militants attacked southern Israeli communities, killing 1,200 people and taking about 250 hostages, according to Israeli figures.

Israel’s subsequent military campaign against Hamas in Gaza has killed nearly 42,000 Palestinians, according to Gaza’s health ministry, and laid waste to the enclave.

Israel launched air attacks on Beirut’s southern suburbs overnight and early on Sunday, the most intense bombardment of the Lebanese capital since Israel sharply escalated its campaign against Iranian-backed group Hezbollah last month.

In Jakarta, the capital of Indonesia, the world’s most populous Muslim-majority country, at least 1,000 pro-Palestinian protesters gathered on Sunday morning near the U.S. embassy demanding that Washington stop supplying weapons to Israel.

In Sydney, thousands of pro-Palestinian protesters gathered ahead of the Oct. 7 anniversary, chanting and waving Lebanese and Palestinian flags amid a heavy police presence. 

One person was arrested for waving an Israeli flag with a swastika in the middle of it instead of the Star of David.

In Rabat, thousands of Moroccans marched, calling for a halt to the violence in Gaza and Lebanon, in one of the largest protests in the country since the beginning of the war in Gaza. 

Protesters demanded an end to Morocco’s diplomatic ties with Israel, chanting “no to normalisation, Palestine is not for sale,” referring to Morocco’s establishing of diplomatic relations with Israel. 

Over the past year, the scale of the killing and destruction in Gaza has prompted some of the biggest global demonstrations in years, including in the U.S., which saw weeks of pro-Palestinian college campus encampments.

Advocates have raised concerns over antisemitic and Islamophobic rhetoric in some protests and counter-protests related to the conflict. Rights advocates have warned about rising threats against Jews and Muslims around the world.

© Reuters. Demonstrators wave Turkish and Palestinian flags during a protest to express support for Palestinians in Gaza, a day ahead of the anniversary of the October 7th attack, amid the Israel-Hamas conflict, in Ankara, Turkey, October 6, 2024. REUTERS/Cagla Gurdogan

The United States and other allies have supported Israel’s right to self-defence, but Israel has faced wide international condemnation over its actions in Gaza, and now over its bombarding of Lebanon.

Prime Minister Benjamin Netanyahu says his government is acting to prevent a repeat of the Oct. 7 assault by Hamas.

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