Centene Corp

CNC: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$14.00	Dltqy	Fvfjxgmmb

Centene Earnings: Medicaid Redeterminations Begin About as Expected and 2023 Outlook Increases

Julie Utterback

Jul 28, 2023

Narrow-moat Centene turned in strong second-quarter results, even as Medicaid redeterminations began. With the expansion of its individual exchange business and ongoing cost controls, management increased its 2023 outlook and maintained 2024 guidance. We are keeping our $87 fair value estimate intact and continue to view shares as moderately undervalued, especially after July 28's mid-single-digit percentage decline.

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