NewEdge Advisors LLC increased its stake in Centene Corporation (NYSE:CNC – Free Report) by 41.7% in the first quarter, HoldingsChannel.com reports. The firm owned 43,105 shares of the company’s stock after acquiring an additional 12,686 shares during the quarter. NewEdge Advisors LLC’s holdings in Centene were worth $1,411,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in CNC. Summitry LLC boosted its holdings in Centene by 1.1% during the first quarter. Summitry LLC now owns 23,925 shares of the company’s stock worth $783,000 after buying an additional 253 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new stake in shares of Centene during the 1st quarter valued at approximately $556,000. Janus Henderson Group PLC boosted its stake in shares of Centene by 3.8% during the 1st quarter. Janus Henderson Group PLC now owns 865,760 shares of the company’s stock worth $28,344,000 after acquiring an additional 31,485 shares in the last quarter. Bull Harbor Capital LLC purchased a new stake in shares of Centene during the 1st quarter worth approximately $2,072,000. Finally, Amundi grew its holdings in shares of Centene by 30.4% in the 1st quarter. Amundi now owns 3,873,987 shares of the company’s stock worth $126,834,000 after acquiring an additional 902,581 shares during the period. Institutional investors and hedge funds own 93.63% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on CNC. Wall Street Zen raised Centene from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 18th. Oppenheimer raised their price target on Centene from $58.00 to $67.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Mizuho set a $63.00 price target on Centene and gave the stock a “neutral” rating in a research note on Monday, June 8th. Cantor Fitzgerald boosted their price objective on shares of Centene from $60.00 to $75.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Finally, Wells Fargo & Company set a $69.00 price objective on shares of Centene and gave the company an “equal weight” rating in a research note on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Centene presently has a consensus rating of “Hold” and a consensus price target of $69.15.
Centene Stock Performance
Shares of CNC opened at $67.53 on Monday. Centene Corporation has a 1 year low of $27.76 and a 1 year high of $69.36. The company’s 50 day simple moving average is $65.00 and its 200 day simple moving average is $51.69. The company has a market capitalization of $33.36 billion, a price-to-earnings ratio of -6.47, a PEG ratio of 0.36 and a beta of 1.08. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.15 and a current ratio of 1.15.
Centene (NYSE:CNC – Get Free Report) last released its earnings results on Tuesday, July 28th. The company reported $2.51 EPS for the quarter, topping the consensus estimate of $1.09 by $1.42. Centene had a negative net margin of 2.51% and a positive return on equity of 12.12%. The firm had revenue of $53.58 billion during the quarter, compared to analysts’ expectations of $47.64 billion. During the same period in the previous year, the company earned ($0.16) EPS. Centene’s revenue for the quarter was up 9.9% on a year-over-year basis. Centene has set its FY 2026 guidance at 4.800- EPS. On average, sell-side analysts predict that Centene Corporation will post 4.89 EPS for the current year.
Centene Profile
Centene Corporation (NYSE: CNC) is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children’s Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.
Centene’s offerings extend beyond traditional insurance to include a range of specialty and support services.
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