Centene Corporation $CNC Shares Purchased by NewEdge Advisors LLC

NewEdge Advisors LLC raised its stake in Centene Corporation (NYSE:CNC) by 41.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,105 shares of the company’s stock after acquiring an additional 12,686 shares during the period. NewEdge Advisors LLC’s holdings in Centene were worth $1,411,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in CNC. Vanguard Group Inc. grew its stake in Centene by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 56,978,753 shares of the company’s stock worth $2,344,676,000 after buying an additional 190,334 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Centene by 117.0% in the fourth quarter. AQR Capital Management LLC now owns 31,798,738 shares of the company’s stock valued at $1,308,518,000 after acquiring an additional 17,143,904 shares during the period. Geode Capital Management LLC grew its position in shares of Centene by 5.5% during the fourth quarter. Geode Capital Management LLC now owns 13,271,492 shares of the company’s stock worth $554,338,000 after acquiring an additional 697,277 shares during the last quarter. Deerfield Management Company L.P. increased its holdings in shares of Centene by 184.0% in the 3rd quarter. Deerfield Management Company L.P. now owns 9,046,000 shares of the company’s stock valued at $322,761,000 after acquiring an additional 5,860,630 shares during the period. Finally, Morgan Stanley raised its position in Centene by 7.2% in the 4th quarter. Morgan Stanley now owns 9,002,570 shares of the company’s stock valued at $370,456,000 after purchasing an additional 603,585 shares during the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Stock Up 0.1%

CNC stock opened at $67.53 on Monday. The stock has a market capitalization of $33.36 billion, a PE ratio of -6.47, a price-to-earnings-growth ratio of 0.36 and a beta of 1.08. The company has a fifty day moving average of $65.00 and a 200-day moving average of $51.69. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.15 and a current ratio of 1.15. Centene Corporation has a one year low of $27.76 and a one year high of $69.36.

Centene (NYSE:CNC) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $1.42. The business had revenue of $53.58 billion for the quarter, compared to analyst estimates of $47.64 billion. Centene had a negative net margin of 2.51% and a positive return on equity of 12.12%. The business’s revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.16) earnings per share. Centene has set its FY 2026 guidance at 4.800- EPS. As a group, analysts expect that Centene Corporation will post 4.89 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CNC. Cantor Fitzgerald raised their price objective on shares of Centene from $60.00 to $75.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Wall Street Zen raised shares of Centene from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 18th. Mizuho set a $63.00 price target on Centene and gave the stock a “neutral” rating in a report on Monday, June 8th. Barclays restated an “overweight” rating and issued a $80.00 price target (up from $75.00) on shares of Centene in a research report on Wednesday, July 29th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Centene in a research note on Friday, July 17th. One investment 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 assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $69.15.

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.