Centene Corporation $CNC Position Cut by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its stake in shares of Centene Corporation (NYSE:CNC) by 2.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,716,029 shares of the company’s stock after selling 109,246 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Centene were worth $238,532,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. DV Equities LLC purchased a new position in Centene in the 4th quarter worth about $26,000. IFC & Insurance Marketing Inc. bought a new position in shares of Centene during the 4th quarter valued at $28,000. SBI Securities Co. Ltd. boosted its stake in shares of Centene by 118.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 749 shares of the company’s stock worth $31,000 after acquiring an additional 406 shares in the last quarter. Bayban bought a new position in Centene in the 4th quarter worth $33,000. Finally, MV Capital Management Inc. bought a new stake in Centene during the 4th quarter valued at approximately $34,000. 93.63% of the stock is currently owned by institutional investors.

Centene Trading Down 4.1%

CNC opened at $64.21 on Friday. The firm’s fifty day moving average is $64.36 and its two-hundred day moving average is $50.82. The firm has a market cap of $31.72 billion, a PE ratio of -6.15, a price-to-earnings-growth ratio of 0.36 and a beta of 1.08. Centene Corporation has a twelve month low of $25.08 and a twelve month high of $69.36. 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 (NYSE:CNC) last released its quarterly earnings data on Tuesday, July 28th. The company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $1.42. Centene had a negative net margin of 2.51% and a positive return on equity of 12.12%. The business had revenue of $53.58 billion during the quarter, compared to analysts’ expectations of $47.64 billion. During the same quarter in the prior year, the company earned ($0.16) EPS. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. Centene has set its FY 2026 guidance at 4.800- EPS. Equities research analysts anticipate that Centene Corporation will post 4.89 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CNC shares. Jefferies Financial Group upped their target price on Centene from $39.00 to $48.00 and gave the company a “hold” rating in a research note on Wednesday, April 29th. Mizuho set a $63.00 price objective on shares of Centene and gave the stock a “neutral” rating in a report on Monday, June 8th. Wells Fargo & Company set a $69.00 target price on shares of Centene and gave the stock an “equal weight” rating in a research note on Monday, July 13th. Sanford C. Bernstein reissued an “outperform” rating and set a $79.00 price target (up from $68.00) on shares of Centene in a research note on Monday. Finally, Robert W. Baird boosted their price objective on shares of Centene from $46.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $68.58.

Key Centene News

Here are the key news stories impacting Centene this week:

• Positive Sentiment: Centene reported adjusted second-quarter EPS of $2.51, well above the $1.09 analyst consensus, while revenue reached $53.58 billion. The health benefits ratio improved to 89.6% from 93.0% a year earlier, indicating better pricing, rate increases and medical-cost management. Centene Corp. Surged on Earnings Beat and Improved Outlook
• Positive Sentiment: Management raised 2026 adjusted EPS guidance to more than $4.80 from more than $3.40 and increased its full-year revenue outlook. The higher forecast is the main reason investors have continued bidding up CNC after earnings. Why Centene Is Up After Raising Guidance
• Positive Sentiment: Centene’s redemption of its 2027 notes should reduce near-term refinancing risk and may lower interest expense, adding to the improved financial outlook. Centene Guidance and Debt Redemption
• Positive Sentiment: A recently awarded Illinois Medicaid contract for Centene’s Meridian Health Plan could provide additional support for government-program enrollment and future revenue. Centene Rises on Profit Recovery and Higher Outlook

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.