Centene (CNC) 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
Centene (CNC) PT Lowered to $52 at BofA Securities
July 2, 2025 5:19 AM UTCBofA Securities analyst Kevin Fischbeck lowered the price target on Centene (NYSE: CNC) to $52.00 (from $65.00) while maintaining a Neutral rating.
The analyst comments "CNC withdrew its 2025 guidance on higher acuity in Marketplace population in its markets and higher than expected Medicaid... 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
TD Cowen Reiterates Buy Rating on Centene (CNC)
July 2, 2025 5:13 AM UTCTD Cowen analyst Gary Taylor reiterated a Buy rating and $73.00 price target on Centene (NYSE: CNC).
The analyst comments "2025G Withdrawn - CNC withdrew its 2025 guidance due to an unexpected net risk adjustment transfer in HIX (related to 2025) and an acceleration in Medicaid cost trend. CNC's most recent FY25 adj EPS guidance was "greater than" $7.25/share; the combined stated and extrapolated EPS impact implies a potential ~50% EPS adjustment before accounting for performance in the MA and PDP service lines (both of which are said to be performing better than expectations).... 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
