Shares of Centene Corp. (CNC) reached a new 52-week high of $75.16 Wednesday morning, and are currently trading at $74.90, up $4.90 or 7.00%, with trading volume rising over 3.03 million versus an average volume of 4.02 million shares.
The company, on Monday, announced that it has reached no-fault agreements with the Attorneys General of Ohio and Mississippi to resolve claims made by the states related to services provided by Envolve Pharmacy Solutions Inc. (Envolve), its pharmacy benefits manager subsidiary. As per the terms of the agreements, Centene would pay $88 million to Ohio and $55 million to Mississippi.
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