Centene Corporation $CNC Stake Cut by Federated Hermes Inc.

Federated Hermes Inc. cut its holdings in shares of Centene Corporation (NYSE:CNC) by 99.3% in the third quarter, HoldingsChannel reports. The fund owned 2,005 shares of the company’s stock after selling 290,000 shares during the quarter. Federated Hermes Inc.’s holdings in Centene were worth $72,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Centene during the third quarter valued at approximately $27,000. WPG Advisers LLC boosted its stake in shares of Centene by 44.5% during the 3rd quarter. WPG Advisers LLC now owns 915 shares of the company’s stock valued at $33,000 after buying an additional 282 shares during the period. Bogart Wealth LLC increased its stake in shares of Centene by 11,011.1% in the third quarter. Bogart Wealth LLC now owns 1,000 shares of the company’s stock worth $36,000 after acquiring an additional 991 shares during the last quarter. Financial Network Wealth Advisors LLC raised its holdings in shares of Centene by 54.9% during the third quarter. Financial Network Wealth Advisors LLC now owns 1,100 shares of the company’s stock worth $39,000 after acquiring an additional 390 shares in the last quarter. Finally, Assetmark Inc. boosted its position in Centene by 248.2% during the second quarter. Assetmark Inc. now owns 1,156 shares of the company’s stock valued at $63,000 after purchasing an additional 824 shares during the last quarter. 93.63% of the stock is owned by hedge funds and other institutional investors.

Centene Stock Performance

NYSE:CNC opened at $38.04 on Tuesday. The firm has a market capitalization of $18.70 billion, a PE ratio of -2.79, a PEG ratio of 0.88 and a beta of 0.48. Centene Corporation has a 1 year low of $25.08 and a 1 year high of $66.03. The company has a current ratio of 1.10, a quick ratio of 1.08 and a debt-to-equity ratio of 0.87. The firm’s fifty day simple moving average is $42.03 and its 200 day simple moving average is $36.07.

Centene (NYSE:CNC) last released its quarterly earnings results on Friday, February 6th. The company reported ($1.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.03. The company had revenue of $49.73 billion during the quarter, compared to analysts’ expectations of $48.41 billion. Centene had a negative net margin of 3.43% and a positive return on equity of 4.25%. The business’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.80 earnings per share. Centene has set its FY 2026 guidance at 3.000-3.000 EPS. On average, sell-side analysts anticipate that Centene Corporation will post 6.86 EPS for the current year.

Analyst Upgrades and Downgrades

CNC has been the topic of several research reports. Wall Street Zen raised Centene from a “hold” rating to a “buy” rating in a research report on Saturday. JPMorgan Chase & Co. increased their price objective on Centene from $38.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, January 22nd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $41.00 target price on shares of Centene in a research note on Monday. UBS Group set a $42.00 price target on shares of Centene and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Finally, TD Cowen reaffirmed a “hold” rating on shares of Centene in a research note on Friday, October 31st. Three research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Centene has an average rating of “Hold” and a consensus target price of $40.81.

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.