Benjamin Edwards Inc. Takes Position in Centene Corporation $CNC

Benjamin Edwards Inc. bought a new position in shares of Centene Corporation (NYSE:CNC) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 8,030 shares of the company’s stock, valued at approximately $515,000.

A number of other hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in Centene in the 2nd quarter worth $2,660,422,000. AQR Capital Management LLC raised its position in shares of Centene by 117.0% during 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 buying an additional 17,143,904 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Centene by 423.0% in the second quarter. Wellington Management Group LLP now owns 13,301,215 shares of the company’s stock valued at $853,805,000 after buying an additional 10,757,914 shares during the period. Norges Bank acquired a new stake in Centene during the fourth quarter worth about $332,044,000. Finally, Deerfield Management Company L.P. increased its stake in Centene by 184.0% during the third 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. 93.63% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on Centene from $60.00 to $67.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. Mizuho set a $63.00 target price on Centene and gave the company a “neutral” rating in a research note on Monday, June 8th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $79.00 target price (up from $68.00) on shares of Centene in a research report on Monday, August 3rd. Argus raised shares of Centene from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a report on Tuesday, August 11th. Finally, Raymond James Financial set a $75.00 price objective on shares of Centene in a report on Tuesday, July 7th. 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. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $70.05.

Centene Price Performance

Shares of CNC stock opened at $67.28 on Thursday. The stock’s fifty day simple moving average is $65.47 and its 200 day simple moving average is $53.90. Centene Corporation has a one year low of $28.24 and a one year high of $69.36. The firm has a market cap of $33.24 billion, a price-to-earnings ratio of -6.44, a P/E/G ratio of 0.41 and a beta of 1.10. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.15 and a quick ratio of 1.15.

Centene (NYSE:CNC) last released its quarterly earnings data on Monday, July 27th. The company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $1.42. Centene had a positive return on equity of 12.12% and a negative net margin of 2.51%.The firm had revenue of $53.58 billion during the quarter, compared to analyst estimates of $47.64 billion. During the same period in the prior year, the company posted ($0.16) earnings per share. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, analysts expect that Centene Corporation will post 4.89 earnings per share for the current fiscal year.

Insider Activity

In related news, General Counsel Christopher Koster sold 56,500 shares of Centene stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $66.90, for a total transaction of $3,779,850.00. Following the completion of the transaction, the general counsel directly owned 248,854 shares of the company’s stock, valued at $16,648,332.60. This trade represents a 18.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.37% of the stock is owned by company insiders.

Centene News Summary

Here are the key news stories impacting Centene this week:

• Positive Sentiment: Improving fundamentals support the rally. Centene’s Marketplace recovery is strengthening profitability as pricing, risk adjustment and medical-cost trends improve. Analysts expect these factors to contribute to stronger earnings growth. Can Centene’s Marketplace Recovery Fuel Stronger Earnings Growth?
• Positive Sentiment: Momentum and valuation remain favorable. Zacks highlighted Centene’s 117% one-year advance, improving margins and higher earnings estimates, while noting that CNC still trades at a discount to key peers. Centene Stock Roars Back 117% in a Year: Is CNC Still a Buy?
• Positive Sentiment: Zacks upgraded CNC’s growth-stock standing. Centene was included in Zacks’ Rank #1, or “Strong Buy,” growth-stock list, reflecting favorable earnings estimates and revisions. Best Growth Stocks to Buy for September 2nd
• Neutral Sentiment: Centene appointed Bradley Bolivar as chief information officer. His experience in technology, cybersecurity and data infrastructure could support the company’s broader turnaround, though the leadership transition is unlikely to materially change near-term results. Centene Hands Its Turnaround Playbook to a New Tech Chief
• Neutral Sentiment: Centene Foundation and Home State Health awarded $750,000 to Missouri community organizations. The initiative supports community health but has limited direct financial impact on CNC. Home State Health and Centene Foundation Award $750,000

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.