Centene Corporation (CNC)
Centene Corporation (CNC) is a multinational healthcare enterprise that primarily provides managed care services to government-sponsored health programs, such as Medicaid, Medicare, and the Health Insurance Marketplace. Founded in 1984, the company offers a broad range of healthcare solutions focused on underserved populations, including specialty services, dental, vision, and behavioral health. Centene operates across multiple states in the U.S., emphasizing integrated, community-based healthcare delivery.
Company News
Multiple health care stocks experienced significant options trading activity, with various bullish and bearish signals across different companies in the sector.
A class action lawsuit has been filed against Centene Corporation alleging misleading financial guidance, with stock dropping over 40% after withdrawing 2025 revenue projections due to lower-than-expected marketplace enrollment and increased market morbidity.
Centene experienced a massive 40% stock drop after withdrawing 2025 full-year guidance due to lower-than-expected ACA exchange market growth and higher patient morbidity, impacting expected earnings. Competitors like Molina and Elevance were also negatively affected.
Centene Corporation is set to report its second-quarter 2024 results. The company's performance is expected to have benefited from enhanced volumes and contributions from its Commercial business, but declining total memberships and growing cost ratio might affect second-quarter profits.
CNC earnings call for the period ending March 31, 2024.
