Centene (NYSE:CNC) led a sector-wide rally among its peers on Thursday after the company said its YTD financials are consistent with its non-GAAP earnings guidance of roughly $1.75 per share, reiterated in July.
Shares of the managed care firm, based in Saint Louis, Missouri, jumped ~12%, an uptick that could become its best intraday gain since early 2020. Its rivals in the Medicaid market, Molina Healthcare (NYSE:MOH) and Elevance Health (NYSE:ELV), also traded higher.
The update came ahead of Centene’s (NYSE:CNC) participation at the Deutsche Bank 2025 Healthcare Summit on Thursday.
At the event, CEO Sarah London also commented on the company’s 2026 Medicare Star Ratings, under which payors with top-rated Medicare Advantage (MA) and Part D plans receive bonus payments.
Citing early data, London said that a slightly higher percentage of its members are included in plans rated with four stars, which will lead to bonus payments from Medicare in 2027.
Centene’s (NYSE:CNC) rally marked the latest revival in the managed care space this week. On Tuesday, UnitedHealth (UNH) sent its peers higher after reiterating its full-year outlook and announcing that roughly 78% of its membership could be enrolled in its MA plans rated four stars and above.