First Pacific Financial acquired a new position in shares of Centene Corporation (NYSE:CNC – Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 32,315 shares of the company’s stock, valued at approximately $2,007,000.
A number of other institutional investors also recently modified their holdings of CNC. Silicon Valley Capital Partners acquired a new position in shares of Centene in the 2nd quarter worth approximately $25,000. North Point Portfolio Managers Corp OH bought a new stake in Centene during the 3rd quarter worth approximately $25,000. Toth Financial Advisory Corp acquired a new stake in Centene during the 3rd quarter valued at $30,000. MidFirst Bank acquired a new stake in Centene during the 2nd quarter valued at $32,000. Finally, Fiduciary Financial Advisors bought a new position in Centene in the 2nd quarter valued at $34,000. Institutional investors own 93.63% of the company’s stock.
Centene Stock Up 1.8%
Shares of CNC opened at $70.07 on Thursday. The firm has a market capitalization of $34.61 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 0.43 and a beta of 1.13. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.15 and a current ratio of 1.15. The business’s fifty day moving average price is $65.21 and its two-hundred day moving average price is $59.33. Centene Corporation has a 52 week low of $31.63 and a 52 week high of $70.37.
Insider Activity
In related news, General Counsel Christopher Koster sold 56,500 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $66.90, for a total value of $3,779,850.00. Following the transaction, the general counsel owned 248,854 shares in the company, valued at $16,648,332.60. This trade represents a 18.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.37% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
CNC has been the topic of a number of recent analyst reports. Barclays reissued an “overweight” rating and issued a $80.00 price objective (up from $75.00) on shares of Centene in a research note on Wednesday, July 29th. Cantor Fitzgerald restated an “overweight” rating on shares of Centene in a report on Friday, October 9th. UBS Group set a $79.00 target price on Centene in a research note on Tuesday, August 18th. Morgan Stanley set a $66.00 price target on Centene in a report on Wednesday, July 29th. Finally, TD Cowen reiterated a “hold” rating and set a $65.00 price target (up from $47.00) on shares of Centene in a research report on Tuesday, July 14th. Nine analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $70.05.
Get Our Latest Stock Analysis on Centene
Centene News Summary
Here are the key news stories impacting Centene this week:
- Positive Sentiment: Centene plans to launch a nationwide performance-based Gold Card Program in November. The initiative will initially cover more than 160,000 qualifying providers and streamline prior-authorization reviews for selected outpatient services while maintaining clinical and quality requirements. Investors view the program as a potential way to reduce administrative costs, improve provider relationships and support operating efficiency. Centene to Launch Nationwide Gold Card Program for Qualifying Providers
- Positive Sentiment: Market commentary identified the Gold Card announcement, Centene’s plan to redeem its remaining 2027 notes and expansion of primary-care capabilities as factors behind renewed confidence in the company’s margin-recovery and balance-sheet outlook. Centene Is Up 6.6% After Gold Card, Debt Redemption and Primary Care Expansion News
- Positive Sentiment: PA Health & Wellness, a Centene subsidiary, was again recognized by the National Committee for Quality Assurance as one of the top 17 Medicaid health plans nationally. The recognition may reinforce confidence in Centene’s Medicaid execution and service quality. PA Health & Wellness Earns National Recognition Among Top Medicaid Health Plans
- Neutral Sentiment: Centene CEO Sarah London said artificial intelligence could help Medicaid patients gain better access to care, particularly in medical-access deserts. The comments highlight a long-term innovation strategy, but they do not yet provide measurable financial guidance. Centene CEO Sarah London on Medicaid and AI
- Negative Sentiment: The Gold Card program’s financial benefit remains uncertain: savings depend on provider adoption and whether reduced authorization work translates into lower costs. Centene also faces some investor caution after reported insider selling, while Wednesday’s relative underperformance suggests the positive news was not uniformly embraced. Centene’s Gold Card Push Could Ease Costs Centene Stock Underperforms Competitors
About Centene
Centene Corporation (NYSE:CNC) is a healthcare enterprise that provides health insurance and related services, primarily through government-sponsored programs. Its offerings include Medicaid plans, Medicare products, health plans sold through the Affordable Care Act marketplace, and services for military families through government-sponsored healthcare programs.
The company also provides pharmacy, behavioral health, specialty healthcare, care management and administrative services through various subsidiaries and partner organizations.
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