Insight Wealth Strategies LLC Sells 23,735 Shares of Centene Corporation $CNC

Insight Wealth Strategies LLC trimmed its holdings in shares of Centene Corporation (NYSE:CNC) by 19.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 98,403 shares of the company’s stock after selling 23,735 shares during the quarter. Insight Wealth Strategies LLC’s holdings in Centene were worth $6,726,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Baird Financial Group Inc. acquired a new position in shares of Centene in the first quarter valued at approximately $236,000. Sivia Capital Partners LLC raised its holdings in shares of Centene by 80.0% during the second quarter. Sivia Capital Partners LLC now owns 9,710 shares of the company’s stock worth $527,000 after acquiring an additional 4,315 shares during the period. CW Advisors LLC raised its holdings in shares of Centene by 20.3% during the second quarter. CW Advisors LLC now owns 4,863 shares of the company’s stock worth $264,000 after acquiring an additional 820 shares during the period. NewEdge Advisors LLC lifted its position in Centene by 6.1% in the 2nd quarter. NewEdge Advisors LLC now owns 44,945 shares of the company’s stock valued at $2,440,000 after acquiring an additional 2,582 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in Centene by 0.4% in the 2nd quarter. Treasurer of the State of North Carolina now owns 231,938 shares of the company’s stock worth $12,590,000 after purchasing an additional 967 shares during the period. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CNC shares. JPMorgan Chase & Co. lifted their price target on Centene from $60.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. Wells Fargo & Company set a $69.00 price objective on Centene and gave the stock an “equal weight” rating in a research report on Monday, July 13th. Argus raised Centene from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research report on Tuesday. Raymond James Financial set a $75.00 target price on Centene in a research note on Tuesday, July 7th. Finally, Deutsche Bank Aktiengesellschaft raised Centene from a “hold” rating to a “buy” rating and upped their price target for the stock from $53.00 to $80.00 in a research report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $69.15.

Centene Trading Down 2.5%

Shares of NYSE:CNC opened at $64.89 on Wednesday. The company’s 50-day moving average price is $64.67 and its two-hundred day moving average price is $51.24. Centene Corporation has a one year low of $25.28 and a one year high of $69.36. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.15 and a quick ratio of 1.15. The stock has a market capitalization of $32.06 billion, a PE ratio of -6.22, a price-to-earnings-growth ratio of 0.36 and a beta of 1.08.

Centene (NYSE:CNC) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $1.09 by $1.42. The company had revenue of $53.58 billion during the quarter, compared to analysts’ expectations of $47.64 billion. Centene had a positive return on equity of 12.12% and a negative net margin of 2.51%.Centene’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.16) EPS. Centene has set its FY 2026 guidance at 4.800- EPS. On average, equities analysts forecast that Centene Corporation will post 4.89 EPS for the current fiscal year.

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.