1006 ET - Centene logged better 3Q earnings than analysts had expected despite seeing higher-than-expected acuity--a measure of illness severity--in its Medicaid patient population after redeterminations, Mizuho analyst Ann Hynes says in a research note. The company's strong position in the individual marketplace continues to offset these Medicaid pressures, the analyst says. The managed healthcare provider delivered a solid quarter in contrast to its peers' results, which seem to have spooked investors, Hynes says. Centene's stock fell 23% between Sept. 1 and this morning's earnings release. Cost trends will be a main focus of management's call with analysts, Hynes says. Shares rise 11% to $68.53. (dean.seal@wsj.com)

(END) Dow Jones Newswires

October 25, 2024 10:06 ET (14:06 GMT)

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