Centene Corporation $CNC Shares Sold by Cambiar Investors LLC

Key Points

• Cambiar Investors LLC cut its stake in Centene by 35.0% in Q4, selling 514,835 shares and now holds 957,159 shares (about 0.19% of Centene) worth roughly $39.39 million, making CNC its 24th largest position.
• Centene posted Q earnings of ($1.19) EPS, beating estimates by $0.03, with revenue of $49.73 billion (up 21.9% YoY), and has set FY2026 guidance at 3.00 EPS.
• Analysts give Centene a consensus rating of "Hold" with an average price target of $41.81 (3 Buy, 14 Hold, 3 Sell).

Cambiar Investors LLC trimmed its position in Centene Corporation (NYSE:CNC - Free Report) by 35.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 957,159 shares of the company's stock after selling 514,835 shares during the quarter. Centene makes up 1.8% of Cambiar Investors LLC's investment portfolio, making the stock its 24th largest position. Cambiar Investors LLC owned approximately 0.19% of Centene worth $39,387,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. WPG Advisers LLC raised its holdings in shares of Centene by 44.5% in the 3rd quarter. WPG Advisers LLC now owns 915 shares of the company's stock valued at $33,000 after purchasing an additional 282 shares in the last quarter. Prime Capital Investment Advisors LLC raised its holdings in shares of Centene by 5.7% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 5,975 shares of the company's stock valued at $246,000 after purchasing an additional 324 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of Centene by 11.6% in the 3rd quarter. Versant Capital Management Inc now owns 3,421 shares of the company's stock valued at $122,000 after purchasing an additional 355 shares in the last quarter. Snowden Capital Advisors LLC raised its holdings in shares of Centene by 8.0% in the 2nd quarter. Snowden Capital Advisors LLC now owns 5,073 shares of the company's stock valued at $275,000 after purchasing an additional 374 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of Centene by 15.8% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,785 shares of the company's stock valued at $115,000 after purchasing an additional 379 shares in the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Trading Down 0.8%

Shares of Centene stock opened at $37.25 on Friday. Centene Corporation has a 1 year low of $25.08 and a 1 year high of $64.15. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market capitalization of $18.32 billion, a P/E ratio of -2.74, a PEG ratio of 0.83 and a beta of 0.59. The company's fifty day moving average is $38.54 and its two-hundred day moving average is $38.92.

Centene (NYSE:CNC - Get Free Report) last issued its quarterly earnings data on Friday, February 6th. The company reported ($1.19) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $49.73 billion for the quarter, compared to the consensus estimate of $48.41 billion. During the same period last year, the firm posted $0.80 EPS. Centene's revenue for the quarter was up 21.9% on a year-over-year basis. Centene has set its FY 2026 guidance at 3.000-3.000 EPS. Analysts forecast that Centene Corporation will post 6.86 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on CNC shares. JPMorgan Chase & Co. dropped their target price on shares of Centene from $45.00 to $41.00 and set a "neutral" rating on the stock in a research report on Thursday, March 19th. Truist Financial increased their target price on shares of Centene from $47.00 to $49.00 and gave the company a "buy" rating in a research report on Wednesday, February 25th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Centene from $32.00 to $39.00 and gave the company a "hold" rating in a research report on Tuesday, February 10th. Morgan Stanley increased their target price on shares of Centene from $38.00 to $45.00 and gave the company an "equal weight" rating in a research report on Wednesday, March 4th. Finally, Mizuho set a $41.00 target price on shares of Centene and gave the company a "neutral" rating in a research report on Tuesday, March 10th. Three research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $41.81.

Centene 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.

Want to see what other hedge funds are holding CNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Centene Corporation (NYSE:CNC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.