Brevan Howard Capital Management LP Reduces Stock Holdings in Centene Corporation $CNC

Brevan Howard Capital Management LP cut its position in shares of Centene Corporation (NYSE:CNC) by 46.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 95,023 shares of the company’s stock after selling 83,950 shares during the period. Brevan Howard Capital Management LP’s holdings in Centene were worth $3,390,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of CNC. Addison Advisors LLC increased its holdings in shares of Centene by 455.6% during the 3rd quarter. Addison Advisors LLC now owns 739 shares of the company’s stock worth $26,000 after buying an additional 606 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Centene in the third quarter valued at approximately $27,000. WPG Advisers LLC grew its position in Centene by 44.5% in the third quarter. WPG Advisers LLC now owns 915 shares of the company’s stock worth $33,000 after acquiring an additional 282 shares during the period. Bogart Wealth LLC increased its stake in Centene by 11,011.1% during the third quarter. Bogart Wealth LLC now owns 1,000 shares of the company’s stock worth $36,000 after acquiring an additional 991 shares during the last quarter. Finally, Ameriflex Group Inc. raised its position in Centene by 152.5% in the third quarter. Ameriflex Group Inc. now owns 1,010 shares of the company’s stock valued at $36,000 after purchasing an additional 610 shares during the period. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Stock Performance

NYSE:CNC opened at $34.77 on Tuesday. Centene Corporation has a 52 week low of $25.08 and a 52 week high of $66.03. The company has a fifty day simple moving average of $42.61 and a two-hundred day simple moving average of $38.51. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.87. The company has a market cap of $17.10 billion, a price-to-earnings ratio of -2.55, a price-to-earnings-growth ratio of 0.76 and a beta of 0.48.

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CNC. Wall Street Zen downgraded Centene from a “buy” rating to a “hold” rating in a research report on Sunday, February 15th. Wells Fargo & Company set a $44.00 price target on shares of Centene and gave the company an “equal weight” rating in a research note on Wednesday, February 18th. Morgan Stanley lifted their target price on shares of Centene from $38.00 to $45.00 and gave the company an “equal weight” rating in a report on Wednesday, March 4th. JPMorgan Chase & Co. upped their price target on Centene from $38.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, January 22nd. Finally, Mizuho set a $41.00 price objective on Centene and gave the company a “neutral” rating in a report on Tuesday, March 10th. Three research 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. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $42.06.

Centene Company 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.