DNB Asset Management AS Purchases 141,458 Shares of Centene Corporation $CNC

DNB Asset Management AS increased its holdings in shares of Centene Corporation (NYSE:CNC) by 72.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 336,556 shares of the company’s stock after acquiring an additional 141,458 shares during the period. DNB Asset Management AS owned about 0.07% of Centene worth $12,008,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Barclays set a $44.00 price target on Centene and gave the company an “equal weight” rating in a report on Tuesday, November 4th. Argus upgraded shares of Centene to a “hold” rating in a report on Monday, February 9th. Mizuho set a $47.00 price objective on shares of Centene in a research note on Friday, January 9th. Wall Street Zen downgraded Centene from a “buy” rating to a “hold” rating in a research note on Sunday, February 15th. Finally, TD Cowen lifted their price objective on Centene from $34.00 to $38.00 and gave the stock a “hold” rating in a research note on Wednesday, February 11th. Three investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $42.00.

Centene Stock Up 4.4%

NYSE:CNC opened at $44.82 on Friday. Centene Corporation has a 1 year low of $25.08 and a 1 year high of $66.03. The stock has a 50-day moving average price of $42.83 and a two-hundred day moving average price of $37.56. The stock has a market cap of $22.04 billion, a price-to-earnings ratio of -3.29, a PEG ratio of 1.00 and a beta of 0.48. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.87.

Centene (NYSE:CNC) last issued its quarterly earnings data on Friday, February 6th. The company reported ($1.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.22) by $0.03. The business 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 quarterly revenue was up 21.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.80 EPS. Centene has set its FY 2026 guidance at 3.000-3.000 EPS. As a group, equities analysts expect that Centene Corporation will post 6.86 earnings per share for the current year.

Centene 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.