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Centene (CNC) Stock Falls, Leerink Downgrades

NEW YORK (TheStreet) -- Shares of Centene Corp (CNC) were dropping on heavy trading volume late-afternoon Tuesday as Leerink reduced the St. Louis-based healthcare company's stock rating to "market perform" from "outperform" today.

The firm maintained its $80 price target on Centene and said it expects below consensus EPS achievability in 2017, according to The Fly.

Centene's absence of integration of long-term care contracts, among other factors, are likely to create headwinds for the company, Leerink noted.

Additionally, the company's Medicaid business appears to have already peaked, the firm continued.

Centene provides...