Mountain Lake Investment Management LLC Makes New Investment in Centene Corporation $CNC

Mountain Lake Investment Management LLC acquired a new position in Centene Corporation (NYSE:CNC) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 83,402 shares of the company’s stock, valued at approximately $2,976,000. Centene comprises 2.2% of Mountain Lake Investment Management LLC’s portfolio, making the stock its 15th biggest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Baird Financial Group Inc. purchased a new stake in Centene during the first quarter valued at about $236,000. Sivia Capital Partners LLC increased its holdings in shares of Centene by 80.0% in the second quarter. Sivia Capital Partners LLC now owns 9,710 shares of the company’s stock worth $527,000 after buying an additional 4,315 shares during the period. AE Wealth Management LLC lifted its stake in shares of Centene by 19.8% in the 2nd quarter. AE Wealth Management LLC now owns 4,444 shares of the company’s stock valued at $241,000 after acquiring an additional 734 shares during the last quarter. Vise Technologies Inc. purchased a new stake in Centene during the 2nd quarter valued at about $346,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Centene by 7.6% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 122,040 shares of the company’s stock worth $6,624,000 after acquiring an additional 8,632 shares during the last quarter. Institutional investors own 93.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CNC shares. JPMorgan Chase & Co. increased their price objective on Centene from $38.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, January 22nd. Robert W. Baird lifted their target price on shares of Centene from $28.00 to $36.00 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Mizuho set a $41.00 price target on shares of Centene and gave the company a “neutral” rating in a report on Tuesday, March 10th. Weiss Ratings reissued a “sell (d)” rating on shares of Centene in a report on Wednesday, January 21st. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $59.00 price objective on shares of Centene in a research note on Tuesday, January 6th. Three research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $42.06.

Centene Stock Up 0.9%

Shares of Centene stock opened at $34.77 on Tuesday. 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 Corporation has a 12-month low of $25.08 and a 12-month high of $66.03. The company has a market cap of $17.10 billion, a P/E ratio of -2.55, a PEG ratio of 0.76 and a beta of 0.48. The company’s fifty day simple moving average is $42.61 and its two-hundred day simple moving average is $38.51.

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

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.