Centene (CNC)
Runs Medicaid, Wellcare Medicare, and Ambetter Marketplace health plans for underserved US populations.
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Provides managed health coverage through Medicaid plans, Wellcare Medicare products, and Ambetter Health Marketplace policies, earning primarily premiums and service revenue. Its local health plans share centralized capabilities and depend on state contracts, CMS payments, federal subsidies, and accurately pricing members' medical needs.
Provides managed health plans for lower-income and medically complex populations through Medicaid, Medicare, Commercial, and Other. Wellcare sells Medicare Advantage and stand-alone Part D plans; Ambetter Health serves the ACA Marketplace. Other houses specialty pharmacy, vision, dental, and clinical services, while the remaining Magellan Health businesses are held for sale.
Operates across the US through locally tailored plans. Overlapping Medicaid and Medicare footprints support dual-eligible special-needs plans, while centralized claims, technology, and pharmacy functions provide shared scale.
Earns mainly premiums and service revenue under state Medicaid contracts and CMS-regulated Medicare and Marketplace programs. Results depend on membership eligibility, government rates and subsidies, contract renewals, medical-cost pricing, and federal and state rules.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 18, 2026 | UBS | Target | Target: $61 | Target: $79 |
| Aug 11, 2026 | Argus Research | Upgrade | Target: — | Target: $80 |
| Aug 3, 2026 | Bernstein | Reiterate | Rating: —Target: $59 | Target: $79 |
| Aug 3, 2026 | Stifel Nicolaus | Target | Target: — | Target: $79 |
| Jul 29, 2026 | Morgan Stanley | Target | Target: $57 | Target: $66 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $27.06B · Total debt $16.11B · Total assets $83.01B · Shareholders' equity $22.56B
- Revenue
- $44.38B
- Operating income
- $1.38B
- Net income
- $1.09B
No dividends on record.
| Institutions | 99.36% | 490.84M shares | |
|---|---|---|---|
| 1,061 holders · as of Jun 30, 2026 | |||
| Insiders | 0.53% | 2.63M shares | |
| 20 holders · as of Sep 16, 2026 | |||
| Other | 0.11% | 525.3K shares | |
| remainder | |||
494.00M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 8.39% | 41.45M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 6.37% | 31.48M | as of Jun 30, 2026 |
AQR Capital Management LLCInstitution | 5.81% | 28.68M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 4.52% | 22.35M | as of Jun 30, 2026 |
State Street CorpInstitution | 4.45% | 21.97M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 26, 2026 | Christopher Koster | officer: Secretary & General Counsel | −56,500 | $66.90 |
| Aug 18, 2026 | Christopher Koster | officer: Secretary & General Counsel | −47,603 | $65.36 |
| Jun 10, 2026 | Kenneth A. Burdick | director | −80,000 | $64.55 |
| Dec 4, 2025 | Kenneth A. Burdick | director | −32,796 | $39.00 |
| Dec 3, 2025 | Kenneth A. Burdick | director | −33,211 | $39.04 |
- UnitedHealth Group
Broadest national MCO; competes across Medicaid, Medicare Advantage, Marketplace, and PDP.
- Elevance Health
Large Medicaid and Marketplace MCO via Blue Cross plans; growing Medicare Advantage.
- Molina Healthcare
Pure-play Medicaid and Marketplace MCO; closest direct mirror to Centene's government-programs book.
- Humana
Medicare Advantage giant; WellCare by Centene contests D-SNP and PDP head-to-head.
- CVS Health
Integrated pharmacy-insurer; Aetna competes in Medicaid, Medicare Advantage, and Marketplace.
- Oscar Health
ACA Marketplace specialist competing directly with Ambetter across overlapping states.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Centene | $63.73 | −1.94% | $32.10B | — | 14.1 | 0.2 | +9.9% |
| UnitedHealth Group | $373.50 | −1.08% | $342.88B | 24.3 | 17.5 | 0.8 | +0.4% |
| Elevance Health | $403.53 | −1.41% | $88.77B | 18.2 | 14.8 | 0.4 | +0.8% |
| Molina Healthcare | $191.20 | −3.34% | $10.33B | 1,041.1 | 27.1 | 0.2 | −4.8% |
| Humana | $372.27 | −1.67% | $45.39B | 35.9 | 30.2 | 0.3 | +26.2% |
| CVS Health | $87.48 | −0.14% | $111.77B | 23.2 | 10.8 | 0.3 | +7.3% |
| Oscar Health | $30.75 | −1.74% | $8.11B | 22.4 | 14.4 | 0.5 | +67.2% |
| Median | 23.7 | 16.2 | 0.4 | +4.0% |