Why Centene Stock Was Up 19% in May
After falling almost 7% at the end of April, shares of health insurer Centene (NYSE:CNC) gained it all back and more in May. The stock climbed 19% during the month, according to data provided by S&P Global Market Intelligence.
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When the company reported earnings last month, investors seemed disappointed with its medical loss ratio (the percentage of premiums collected that is spent on care). Wall Street quickly got over it, sending shares up throughout May as Centene made two executive announcements and confirmed that a big acquisition will soon close.
Source Fool.com
