CENTENE CORPORATION WITHDRAWS 2025 GUIDANCE
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Wolfe Research Reiterates Peerperform Rating on Centene (CNC)
July 2, 2025 3:13 PM UTCWolfe Research analyst Justin Lake reiterated a Peerperform rating on Centene (NYSE: CNC).
The analyst comments "CNC Withdraws 2025 Guidance on Marketplace / Medicaid Headwinds Yesterday after the market close, CNC announced it was withdrawing 2025 guidance, primarily driven by the Marketplace business. Given the significant level of earnings contribution from HIX, this was one of the top investor concerns heading into Q2 following ELVs comments at a recent competitor conference citing MLR pressure from attrition and a shift in the risk pool. In its... More
Morgan Stanley Reiterates Overweight Rating on Centene (CNC)
July 2, 2025 5:14 AM UTCMorgan Stanley analyst Erin Wright reiterated an Overweight rating and $70.00 price target on Centene (NYSE: CNC)
The analyst comments "This afternoon (7/1), CNC (here) announced that FY'25 guidance is being pulled due to '25 HIX (ACA Exchange) risk adjustment and elevated Medicaid (MDCD) cost trends. On HIX, CNC has received first look data from Wakely for 22 of its 27 exchange states, ~72% of membership, revealing that overall growth is lower than expected and implied aggregate market morbidity is well above the assumptions contemplated in prior '25 guidance. The company sized the impact as ~$1.8B, or... More
Centene (CNC) PT Lowered to $47 at Jefferies
July 2, 2025 5:13 AM UTCJefferies analyst David Windley lowered the price target on Centene (NYSE: CNC) to $47.00 (from $61.00) while maintaining a Hold rating.
The analyst comments "How Does 38% of the EPS Guide Disappear? Tuesday AMC, CNC disclosed that initial PY25 HIX risk adj data points to a $1.8B under-accrual. That's a ~680bp MLR miss on ~$27B of applicable FY25 HIX premium ($35B * 76%) and $2.75 of EPS. Likely questions: 1) The reduced guide applies to 22 of CNC's 29 states / 76% of CNC's HIX membership. How much add'l headwind could come from the remaining 7 states? Based on our understanding of EDGE server... More
