Bank CEOs meet with Trump to discuss Fannie Mae and Freddie Mac - Bloomberg
Centene (NYSE:CNC) Corp stock reached a 52-week low of $32.26, marking a significant downturn for the healthcare company. With a market capitalization of $16.09 billion and a P/E ratio of 4.85, InvestingPro analysis suggests the stock is currently undervalued. Over the past year, Centene’s stock has experienced a substantial decline, with a 1-year change of -51.55%. This drop reflects challenges the company has faced in the market, contributing to a sharp decrease in its stock price. Investors are closely monitoring the situation to gauge the potential for recovery or further decline. According to InvestingPro analysis, the stock’s RSI indicates oversold territory, while management has been actively buying back shares - two of 15+ additional insights available with an InvestingPro subscription.
In other recent news, Centene Corporation has withdrawn its 2025 financial guidance due to challenges in its Marketplace business and Medicaid sector. The company cited an estimated $1.8 billion reduction in expected risk adjustment revenue transfers, impacting earnings per share by $2.75. Wolfe Research noted that similar trends across Centene’s remaining markets could increase the total impact to approximately $2.5 billion or $3.80 per share. Truist Securities maintained its Buy rating on Centene, despite the guidance withdrawal, while Cantor Fitzgerald lowered its price target to $65, reflecting reduced earnings estimates. Meanwhile, CVS Health (NYSE:CVS) continues to hold a Buy rating from TD Cowen, which sees limited exposure to the risks currently affecting Centene. TD Cowen’s analysis suggests that CVS’s diversified revenue mix could mitigate potential impacts on its earnings. In other developments, Canada Nickel Company announced positive drilling results at its MacDiarmid property, identifying significant nickel mineralization. The company plans to resume drilling at its Midlothian property and anticipates publishing initial resources for its Mann Central and Texmont properties soon.
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