BUZZ-Centene falls as executive forecasts slower Obamacare signups

Reuters03-11
BUZZ-Centene falls as executive forecasts slower Obamacare signups

** Centene's CNC.N shares drop 10% to $38.80 after the health insurer indicates it was seeing fewer sign ups in some Affordable Care Act plans

** CNC is on track for biggest daily percent decline since July 2025

** CNC CEO Sarah London said at the Barclays Healthcare Conference that the company expects mid-30% of membership in ACA's bronze plan, high-teens percentage in its gold plan and just under 50% of members in its silver plan, which is lower than it has been in the past years

** Co reaffirms its 2026 adjusted profit forecast, which is projected to exceed $3 per share and in line with analysts' estimates, per data compiled by LSEG

** 22 analysts cover CNC give it an average rating of "HOLD" and median PT is $44.50

** CNC is down 6% YTD versus the 0.60% fall of S&P 500's health index .SPXHC

(Reporting by Chibuike Oguh in New York)

((Email: Chibuike.Oguh@thomsonreuters.com; Phone: +332-219-1834; Reuters Messaging: chibuike.oguh.thomsonreuters.com@reuters.net))

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