CenterBook Partners LP Boosts Stock Holdings in Centene Corporation $CNC

CenterBook Partners LP lifted its stake in Centene Corporation (NYSE:CNC) by 107.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,894 shares of the company’s stock after purchasing an additional 11,870 shares during the period. CenterBook Partners LP’s holdings in Centene were worth $817,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CNC. Vanguard Group Inc. grew its position in shares of Centene by 1.5% during the second quarter. Vanguard Group Inc. now owns 58,396,605 shares of the company’s stock worth $3,169,768,000 after buying an additional 869,706 shares in the last quarter. Norges Bank purchased a new position in Centene in the second quarter worth approximately $1,435,997,000. State Street Corp increased its position in shares of Centene by 2.3% in the 2nd quarter. State Street Corp now owns 23,186,927 shares of the company’s stock valued at $1,258,586,000 after purchasing an additional 514,600 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Centene by 2.2% in the 2nd quarter. Geode Capital Management LLC now owns 13,208,639 shares of the company’s stock valued at $718,547,000 after purchasing an additional 279,637 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Centene by 5.7% during the 2nd quarter. Invesco Ltd. now owns 11,725,910 shares of the company’s stock worth $636,482,000 after purchasing an additional 633,946 shares during the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Centene Stock Down 1.1%

Shares of NYSE:CNC opened at $43.21 on Friday. Centene Corporation has a 1-year low of $25.08 and a 1-year high of $66.03. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.10 and a quick ratio of 1.08. The stock has a market cap of $21.25 billion, a P/E ratio of -3.17, a P/E/G ratio of 0.97 and a beta of 0.48. The firm has a fifty day moving average price of $42.44 and a 200 day moving average price of $36.86.

Centene (NYSE:CNC) last announced its earnings results on Friday, February 6th. The company reported ($1.19) EPS for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.03. Centene had a negative net margin of 3.43% and a positive return on equity of 4.25%. The business had revenue of $49.73 billion during the quarter, compared to analysts’ expectations of $48.41 billion. During the same period in the prior year, the company earned $0.80 earnings per share. The business’s revenue was up 21.9% compared to the same quarter last year. Centene has set its FY 2026 guidance at 3.000-3.000 EPS. Sell-side analysts predict that Centene Corporation will post 6.86 EPS for the current year.

Analysts Set New Price Targets

CNC has been the topic of a number of analyst reports. Wall Street Zen cut Centene from a “buy” rating to a “hold” rating in a research note on Sunday, February 15th. Jefferies Financial Group cut their target price on Centene from $43.00 to $37.00 and set a “hold” rating on the stock in a research report on Friday, February 13th. Truist Financial upped their price target on Centene from $45.00 to $47.00 and gave the company a “buy” rating in a report on Monday, January 5th. Weiss Ratings restated a “sell (d)” rating on shares of Centene in a research report on Wednesday, January 21st. Finally, Robert W. Baird increased their target price on shares of Centene from $28.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, December 11th. Three analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $41.88.

About Centene

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.