The stock’s been shaky for weeks, and most of it seems tied to the Medicare Advantage mess. Membership dropping by hundreds of thousands is not a small issue, and even though they say it’s “better than feared,” it still feels like a major hit to the core business.
Yeah, revenue looks fine and CenterWell might help long term, but the lowered GAAP guidance and that high payout ratio make me nervous. If Medicare keeps pressuring margins and star ratings stay unpredictable, how solid is the recovery story really? I’m holding for now, but I’m definitely uneasy.