Centene up on reaffirming 2021 profit outlook

Tsun Yip Holdings

13/09/2021 15:38

** Health insurer's shares  CNC.N  up ~4% at $61.9 
    ** CNC maintains its 2021 adj. earnings forecast of
$5.05-$5.35/shr at the Morgan Stanley's global healthcare
conference  
    ** CFO says co witnessed a rise in inpatient COVID-19
admissions due to the Delta variant, which continued into
August, and spiked after the third week and has begun to settle
and come down at month end
    ** A fall in non-COVID-19 healthcare costs was adequate for
co to be able to be comfortable to reiterate guidance, CFO says
    ** Co says it intends on growing adj. EPS modestly in 2022
with acceleration into 2023 and 2024
    ** Brokerage Stephens says CNC's expectation of modest
earnings growth in 2022, suggests the Street consensus
expectation for 10% growth is likely too aggressive
    ** CNC down 0.50% YTD
    

 (Reporting by Manojna Maddipatla in Bengaluru)
 ((manojna.kalyani@thomsonreuters.com; +91  8061822700;))