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Centene Corp CNC Stock Quote

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Morningstar‘s Stock Analysis CNC

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Centene Delivers Strong Q3 and Gives Solid Intermediate-Term Profit Goals; No FVE Change

Julie Utterback, CFA Senior Equity Analyst

Analyst Note

| Julie Utterback, CFA |

Narrow-moat Centene turned in solid third-quarter results, including strong performance in its key end markets—Medicaid (low-income Americans) and Medicare Advantage (older Americans)—which allowed management to slightly increase the bottom end of its 2022 EPS outlook. Also, on the call, management gave a preview of its 2023 and 2024 profit goals, which are roughly in line with our estimates. Considering that solid outlook, we are maintaining our $95 fair value estimate.

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Key Statistics CNC

Company Profile CNC

Business Description

Centene is a managed-care organization focused on government-sponsored healthcare plans, including Medicaid, Medicare, and the individual exchanges. Centene served 23 million medical members as of September 2022, mostly in Medicaid (70% of membership), the individual exchanges (9%), Medicare Advantage (7%), and the balance in Tricare (West region), correctional facility, and commercial plans. The company also serves 4 million users through the Medicare Part D pharmaceutical program.

7700 Forsyth Boulevard, Centene Plaza
St. Louis, MO, 63105
T +1 314 725-4477
Industry Healthcare Plans
Most Recent Earnings Sep 30, 2022
Fiscal Year End Dec 31, 2022
Employees 72,500

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