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Sentiment · FY2026 Q1
| Analyst | Firm | Questions | ChallengePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|---|
| A.J. Rice | UBS | 6 | 33% |
| Andy Mok | Barclays | 6 | 17% |
| Josh Raskin | Nephron Research | 6 | 33% |
| Justin Lake | Wolfe Research | 6 | 17% |
| Steve Baxter | Wells Fargo | 6 | 33% |
| Lance Wilkes | Bernstein | 6 | 0% |
| Dave Windley | Jefferies | 5 | 0% |
| Sarah James | Cantor Fitzgerald | 5 | 20% |
| Ann Hynes | Mizuho Securities | 5 | 20% |
| George Hill | Deutsche Bank | 4 | 0% |
| Firm | Analysts | Questions | ChallengePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|---|
| Bank of America | 3 | 6 | 17% |
| Barclays | 1 | 6 | 17% |
| Bernstein | 1 | 6 | 0% |
| Nephron Research | 1 |
| 6 |
| 33% |
| UBS | 1 | 6 | 33% |
| Wells Fargo | 1 | 6 | 33% |
| Wolfe Research | 1 | 6 | 17% |
| Cantor Fitzgerald | 1 | 5 | 20% |
Centene delivered a dramatically improved Q1 with adjusted EPS of $3.37, up 20% year-over-year, and raised full-year guidance to greater than $3.40 from the prior $3.00, a 13% increase. Consolidated HBR improved sharply to 87.3%, and the Medicare segment doubled its outperformance while Medicaid HBR continued to improve at 93.1%. The March Wakely report validated marketplace dynamics and ABA trend stabilization provided a proof point, though marketplace silver tier members showed higher acuity than expected and Medicaid work requirements implementation approached.
Margin | Regulation Policy | Pricing | Subscriber Growth | Cost Pressure | Competitive Dynamics | Guidance Reliability | Demand | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 4 | 5 | 1 | 5 | 2 | 4 | 2 | |
| 2025Q1 | 7 | 7 | 3 | 5 | 4 | 1 | 2 | |
| 2025Q2 | 5 | 5 | 2 | 2 | 3 | 2 | 2 | 1 |
| 2025Q3 | 5 | 3 | 4 | 2 | 1 | 4 | 1 | |
| 2025Q4 | 5 | 3 | 4 | 3 | 3 | 3 | 1 | |
| 2026Q1 | 4 | 4 | 5 | 1 | 4 | 2 | 3 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Margin | 4 | 7 | 5 | 5 | 5 | 4 |
| Regulation Policy | 5 | 7 | 5 | 3 | 3 | 4 |
| Pricing | 1 | 3 | 2 | 4 | 4 | 5 |
| Subscriber Growth | 5 | 5 | 2 | 2 | 3 | 1 |
| Cost Pressure | 4 | 3 | 1 | 3 | 4 | |
| Competitive Dynamics | 2 | 2 | 4 | 3 | 2 | |
| Guidance Reliability | 4 | 1 | 2 | 1 | 1 | 3 |
| Demand | 2 | 2 | 1 |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
CNC Centene Corporation | 9 | +7.1% | |
| CI Cigna | 8 | +4.6% | |
| CVS CVS Health | 9 | +6.2% | |
| ELV Elevance Health | 7 | +2.6% | |
| HUM Humana | 7 | +23.5% | |
| UNH UnitedHealth Group Incorporated | 7 | +2.0% |