NEW YORK (TheStreet) -- Shares of Centene (CNC) - Get Report were rising in mid-morning trading on Tuesday after the company posted weaker-than-anticipated results for the 2016 third quarter, but issued a full-year outlook that was in line with Wall Street's expectations.
The St. Louis-based healthcare company sees 2016 adjusted earnings per diluted share between $4.28 and $4.38 on revenue of $39.4 billion to $40.0 billion.
Analysts are looking for earnings of $4.36 per share on revenue of $39.9 billion for the full year.
For the third quarter, Centene reported adjusted earnings of $1.11 per diluted share, missing analysts' projections of $1.15 per share. Revenue jumped 86% to $10.85 billion year-over-year, while analysts were forecasting revenue of $10.96 billion.
"We remain focused on successfully integrating Health Net and positioning Centene to continue its track record of achieving profitable growth," CEO Michael Neidorff said in a statement.
In March, Centene completed its acquisition of Health Net. The deal was valued at about $6 billion, including debt.
Centene provides programs and services to government sponsored healthcare programs.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B on the stock.
The company's strengths can be seen in multiple areas, such as its robust revenue growth, growth in earnings per share, increase in net income, largely solid financial position with reasonable debt levels by most measures and solid stock price performance.
The team believes its strengths outweigh the fact that the company has had somewhat disappointing return on equity.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: CNC