10,946 Shares in Centene Corporation $CNC Acquired by Alta Wealth Advisors LLC

Key Points

• Alta Wealth Advisors LLC has acquired 10,946 shares of Centene Corporation, valued at approximately $594,000, indicating growing interest from institutional investors.
• Centene's latest earnings report showed a loss of $0.16 per share, missing estimates by $0.39, despite a revenue increase of 22.4% year-over-year to $48.74 billion.
• Analysts have revised their price targets for Centene, with estimates ranging from $30.00 to $43.00, reflecting a cautious outlook on the stock's performance.

Alta Wealth Advisors LLC bought a new position in shares of Centene Corporation (NYSE:CNC - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 10,946 shares of the company's stock, valued at approximately $594,000.

Other institutional investors have also made changes to their positions in the company. Quarry LP acquired a new position in shares of Centene during the 1st quarter worth approximately $26,000. Golden State Wealth Management LLC grew its holdings in Centene by 203.1% in the 1st quarter. Golden State Wealth Management LLC now owns 579 shares of the company's stock valued at $35,000 after buying an additional 388 shares in the last quarter. Bruce G. Allen Investments LLC grew its holdings in Centene by 273.8% in the 1st quarter. Bruce G. Allen Investments LLC now owns 927 shares of the company's stock valued at $56,000 after buying an additional 679 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in Centene in the 1st quarter valued at $73,000. Finally, Geneos Wealth Management Inc. grew its holdings in Centene by 78.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,462 shares of the company's stock valued at $89,000 after buying an additional 641 shares in the last quarter. 93.63% of the stock is owned by institutional investors and hedge funds.

Centene Price Performance

Shares of CNC stock opened at $38.71 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.64. Centene Corporation has a twelve month low of $25.08 and a twelve month high of $73.50. The company has a market cap of $19.01 billion, a P/E ratio of 9.58, a P/E/G ratio of 1.57 and a beta of 0.48. The business has a fifty day simple moving average of $29.98 and a 200 day simple moving average of $45.26.

Centene (NYSE:CNC - Get Free Report) last announced its quarterly earnings data on Friday, July 25th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.39). Centene had a return on equity of 9.57% and a net margin of 1.15%.The business had revenue of $48.74 billion for the quarter, compared to the consensus estimate of $44.71 billion. During the same quarter in the prior year, the company earned $2.42 earnings per share. Centene's quarterly revenue was up 22.4% compared to the same quarter last year. Centene has set its FY 2025 guidance at 1.750-1.750 EPS. On average, sell-side analysts forecast that Centene Corporation will post 6.86 EPS for the current fiscal year.

Analysts Set New Price Targets

CNC has been the topic of a number of research reports. Oppenheimer decreased their price objective on Centene from $51.00 to $43.00 and set an "outperform" rating on the stock in a report on Monday, July 28th. Wells Fargo & Company lowered Centene from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $72.00 to $30.00 in a report on Wednesday, July 23rd. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $38.00 price objective on shares of Centene in a report on Tuesday, August 26th. Wall Street Zen downgraded Centene from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, TD Cowen reiterated a "hold" rating and set a $33.00 target price (down from $73.00) on shares of Centene in a research report on Monday, July 21st. Three research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $38.33.

Insider Buying and Selling at Centene

In other Centene news, CEO Sarah London acquired 19,230 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was acquired at an average cost of $25.50 per share, for a total transaction of $490,365.00. Following the transaction, the chief executive officer directly owned 845,275 shares in the company, valued at $21,554,512.50. This represents a 2.33% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Theodore R. Samuels II bought 9,000 shares of the company's stock in a transaction on Monday, July 28th. The stock was purchased at an average price of $27.62 per share, with a total value of $248,580.00. Following the completion of the transaction, the director directly owned 32,000 shares of the company's stock, valued at approximately $883,840. The trade was a 39.13% increase in their position. The disclosure for this purchase can be found here. 0.36% of the stock is owned by corporate insiders.

Centene Company Profile

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children's health insurance program, foster care, medicare-medicaid plans, long-term services and support.

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