Centene rises after lifting annual profit forecast

Centene posted second-quarter adjusted profit of $2.51 per share, beating the estimate of $1.09 per share.

The company also reported second-quarter revenue of $53.58 billion, compared with an estimate of $47.62 billion.

As of the last close, Centene was up 55.7% year to date.

Shares of health insurer Centene rose 3.8% to $66.50 in premarket trading after the company raised its annual profit forecast.

The company now expects annual profit of more than $4.80 per share, compared with its previous expectation of above $3.40 per share. Analysts, on average, expected a profit of $3.52 per share, according to data compiled by LSEG.