1,410 Shares in Centene Corporation $CNC Bought by Trust Co. of Toledo NA OH

Trust Co. of Toledo NA OH acquired a new position in Centene Corporation (NYSE:CNC) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,410 shares of the company’s stock, valued at approximately $77,000.

Other hedge funds also recently bought and sold shares of the company. Quarry LP bought a new stake in Centene during the first quarter valued at about $26,000. Golden State Wealth Management LLC boosted its holdings in Centene by 203.1% during the first quarter. Golden State Wealth Management LLC now owns 579 shares of the company’s stock valued at $35,000 after acquiring an additional 388 shares during the period. ORG Wealth Partners LLC bought a new stake in Centene during the first quarter valued at about $73,000. Geneos Wealth Management Inc. boosted its holdings in Centene by 78.1% during the first quarter. Geneos Wealth Management Inc. now owns 1,462 shares of the company’s stock valued at $89,000 after acquiring an additional 641 shares during the period. Finally, IMA Advisory Services Inc. bought a new stake in Centene during the first quarter valued at about $118,000. 93.63% of the stock is currently owned by institutional investors.

Centene Stock Performance

NYSE CNC opened at $35.75 on Monday. The firm has a market cap of $17.56 billion, a price-to-earnings ratio of 8.85, a PEG ratio of 1.41 and a beta of 0.48. The company has a 50 day moving average of $31.14 and a 200-day moving average of $44.39. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.64. Centene Corporation has a 1-year low of $25.08 and a 1-year high of $73.50.

Centene (NYSE:CNC) last posted its quarterly earnings data on Friday, July 25th. The company reported ($0.16) earnings per share 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 analyst estimates of $44.71 billion. Centene had a return on equity of 9.57% and a net margin of 1.15%.The business’s quarterly revenue was up 22.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.42 EPS. Centene has set its FY 2025 guidance at 1.750-1.750 EPS. On average, equities analysts forecast that Centene Corporation will post 6.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CNC has been the subject of a number of recent analyst reports. TD Cowen restated a “hold” rating and set a $33.00 price target (down from $73.00) on shares of Centene in a report on Monday, July 21st. Robert W. Baird reduced their target price on shares of Centene from $68.00 to $28.00 and set a “neutral” rating for the company in a research note on Friday, July 25th. Barclays increased their target price on shares of Centene from $33.00 to $35.00 and gave the company an “equal weight” rating in a research note on Friday, September 12th. Cantor Fitzgerald restated a “neutral” rating and set a $38.00 price target on shares of Centene in a research note on Tuesday, August 26th. Finally, Wells Fargo & Company set a $41.00 price target on shares of Centene and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. Three research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $39.07.

Insider Activity at Centene

In related news, CEO Sarah London purchased 19,230 shares of the stock in a transaction that occurred 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 completion of the acquisition, the chief executive officer directly 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Theodore R. Samuels II purchased 9,000 shares of the stock in a transaction that occurred on Monday, July 28th. The stock was bought at an average cost of $27.62 per share, with a total value of $248,580.00. Following the acquisition, the director owned 32,000 shares of the company’s stock, valued at $883,840. This represents a 39.13% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.36% of the company’s stock.

About Centene

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.