Centene falls after flagging bigger drop in Medicaid membership

Centene

28/07/2026 15:59

Updates
   ** Shares of health insurer Centene CNC.N fall 8.2% to $58.81 
   ** Co expects its Medicaid membership through the year to fall between 8% and 9%, compared with a dip of 6% expected previously 
** CEO Sarah London says the issue is "not something that we can or should hand wave" 
** Co plans to restore the Medicaid business to profitability over the next few years- CEO
** "Commentary around the low utilizer mix of Medicaid Expansion members has been insufficient to give us confidence ahead of Medicaid work requirements," Baird Equity Research says 
** Co raises annual adjusted profit forecast to more than $4.80 per share, compared with previous expectation of above $3.40 per share
** Analysts expect annual profit of $3.52 per share, as per data compiled by LSEG
** Including session's move, CNC up 42.8% YTD 

 (Reporting by Kunal Das in Bengaluru)
 ((Kunal.Das2@thomsonreuters.com;))