Centene Shares Jump After Executives Reassure on Medicaid Costs

Centene Corp. shares jumped the most since 2022 as the health insurer’s second-quarter results appeared to ease investors’ concerns that Medicaid costs would strain the industry’s profits.

The stock rose as much as 8.3% after Centene executives said they were confident states would increase payments to meet the medical needs of patients in their Medicaid programs. Centene is the largest seller of Medicaid managed care plans.