12:01 PM EDT, 07/02/2025 (MT Newswires) -- Health insurance stocks were down in recent Wednesday trading after Centene ( CNC ) withdrew its full-year earnings outlook.

Molina Healthcare ( MOH ) shares were falling over 20%, UnitedHealth Group ( UNH ) was down 3.4%, Elevance Health ( ELV ) was down 8%, Humana (HUM) was down 2.8% and CVS Health ( CVS ) was falling 2.6%

Centene ( CNC ) shares were down more than 39% after the company withdrew its previously reiterated adjusted earnings outlook of more than $7.25 per share for 2025, citing lower-than-expected revenue from most states where it provides health insurance marketplace plans.

JP Morgan downgraded Centene ( CNC ) to neutral from overweight and cut its price target to $48 from $75. UBS downgraded the stock to neutral from buy and lowered its price target to $45 from $80.

Cantor Fitzgerald, Barclays, Jefferies and Deutsche Bank also reduced their price targets on Centene ( CNC ).

Price: 314.86, Change: -11.28, Percent Change: -3.46