Why Falling Membership Could Be the Turning Point for Centene
Centene's recent membership declines look ugly at first glance, but management's shift to prioritize margins, a surprisingly cheap valuation (EV/EBITDA ~5.2, P/FCF ~3.5), and regulatory tailwinds in Medicare create a practical trade: buy on weakness with a tight stop. This is a mid-term swing idea that bets on margin recovery, rate clarity, and imp…