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ANTM - Centene: A Growth Healthcare Stock At A Bargain Value
Anthem Inc.
Centene Corporation (CNC) is one of the main healthcare companies in the US. It has been growing fast both organically and through acquisitions, and apparently its recent acquisition of WellCare (WCG) is not correctly priced in. The combined company trades at 11x P/E 2020 according to our estimates, compared to 15x for its peer group. Assuming reasonably conservative growth estimates the stock could yield a 27% annualized return for a 2.5-year holding period, which looks very attractive for a company of this size.