Written by Jasir Jawaid
Speaking Sept. 10 at a conference hosted by Morgan Stanley, Centene Corp. Chairman, President and CEO Michael Neidorff had one simple answer when he was quizzed on capital deployment:
"We are fine."
The capital Centene generates covers the vast majority of its capital needs, he said, pointing out that the company has a "virtually untapped" $600 million revolver. He ruled out the possibility of the company selling its stock to cover capital needs.
"We're more than well covered," the CEO concluded.
This article was published by S&P Global Market Intelligence on the S&P Capital IQ Pro platform.
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