Farther Finance Advisors LLC Buys 325 Shares of Centene Corporation $CNC

Farther Finance Advisors LLC increased its stake in shares of Centene Corporation (NYSE:CNC) by 5.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,658 shares of the company’s stock after buying an additional 325 shares during the quarter. Farther Finance Advisors LLC’s holdings in Centene were worth $361,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Quarry LP purchased a new position in Centene in the first quarter worth $26,000. Golden State Wealth Management LLC lifted its position in shares of Centene by 203.1% during the 1st quarter. Golden State Wealth Management LLC now owns 579 shares of the company’s stock valued at $35,000 after buying an additional 388 shares during the last quarter. Bruce G. Allen Investments LLC lifted its position in shares of Centene by 273.8% during the 1st quarter. Bruce G. Allen Investments LLC now owns 927 shares of the company’s stock valued at $56,000 after buying an additional 679 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in shares of Centene during the 1st quarter valued at $73,000. Finally, Geneos Wealth Management Inc. lifted its position in shares of Centene by 78.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,462 shares of the company’s stock valued at $89,000 after buying an additional 641 shares during the last quarter. Institutional investors own 93.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CNC shares. Sanford C. Bernstein dropped their price target on Centene from $40.00 to $36.00 and set an “outperform” rating on the stock in a research report on Friday, September 5th. Bank of America cut Centene from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $52.00 to $30.00 in a research report on Wednesday, July 16th. Wall Street Zen lowered Centene from a “buy” rating to a “hold” rating in a research note on Saturday, July 12th. Oppenheimer decreased their price objective on Centene from $51.00 to $43.00 and set an “outperform” rating on the stock in a research note on Monday, July 28th. Finally, TD Cowen reiterated a “hold” rating and set a $33.00 price objective (down from $73.00) on shares of Centene in a research note on Monday, July 21st. Three research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Centene presently has a consensus rating of “Hold” and an average price target of $38.33.

Centene Price Performance

Shares of Centene stock opened at $34.88 on Monday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $17.13 billion, a PE ratio of 8.63, a price-to-earnings-growth ratio of 1.42 and a beta of 0.44. The business’s 50-day moving average price is $29.13 and its 200-day moving average price is $45.95. Centene Corporation has a 12 month low of $25.08 and a 12 month high of $75.35.

Centene (NYSE:CNC) last announced its quarterly earnings data on Friday, July 25th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of $0.23 by ($0.39). The firm had revenue of $48.74 billion for the quarter, compared to the consensus estimate of $44.71 billion. Centene had a net margin of 1.15% and a return on equity of 9.57%. Centene’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.42 earnings per share. Centene has set its FY 2025 guidance at 1.750-1.750 EPS. Sell-side analysts forecast that Centene Corporation will post 6.86 EPS for the current fiscal year.

Insider Activity

In other Centene news, Director Theodore R. Samuels II acquired 9,000 shares of the company’s stock in a transaction on Monday, July 28th. The stock was acquired at an average price of $27.62 per share, for a total transaction of $248,580.00. Following the acquisition, the director owned 32,000 shares in the company, valued at $883,840. This represents a 39.13% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Sarah London acquired 19,230 shares of the company’s stock in a transaction on Friday, August 8th. The stock was acquired at an average price of $25.50 per share, with a total value of $490,365.00. Following the acquisition, the chief executive officer owned 845,275 shares in the company, valued at approximately $21,554,512.50. This trade represents a 2.33% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.36% of the company’s stock.

Centene Profile

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children’s health insurance program, foster care, medicare-medicaid plans, long-term services and support.