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Centene Corporation $CNC Stock Position Reduced by Cwm LLC

Centene logo with Medical background

Key Points

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Cwm LLC cut its stake in shares of Centene Corporation (NYSE:CNC - Free Report) by 42.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 84,508 shares of the company's stock after selling 62,005 shares during the period. Cwm LLC's holdings in Centene were worth $4,587,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. OFI Invest Asset Management grew its position in Centene by 44.9% during the second quarter. OFI Invest Asset Management now owns 1,700 shares of the company's stock valued at $92,000 after purchasing an additional 527 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its position in Centene by 44.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 63,679 shares of the company's stock valued at $3,457,000 after purchasing an additional 19,629 shares in the last quarter. waypoint wealth counsel grew its position in Centene by 57.5% during the second quarter. waypoint wealth counsel now owns 5,960 shares of the company's stock valued at $324,000 after purchasing an additional 2,177 shares in the last quarter. Trust Co. of Toledo NA OH purchased a new position in Centene during the second quarter valued at approximately $77,000. Finally, Aberdeen Group plc grew its position in Centene by 4.5% during the second quarter. Aberdeen Group plc now owns 356,771 shares of the company's stock valued at $19,366,000 after purchasing an additional 15,309 shares in the last quarter. 93.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CNC has been the subject of a number of analyst reports. Sanford C. Bernstein reduced their target price on shares of Centene from $40.00 to $36.00 and set an "outperform" rating for the company in a research note on Friday, September 5th. JPMorgan Chase & Co. reduced their target price on shares of Centene from $48.00 to $30.00 and set a "neutral" rating for the company in a research note on Tuesday, July 29th. Morgan Stanley lifted their target price on shares of Centene from $28.00 to $38.00 and gave the company an "equal weight" rating in a research note on Tuesday. Wall Street Zen cut shares of Centene from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Finally, Oppenheimer reduced their target price on shares of Centene from $51.00 to $43.00 and set an "outperform" rating for the company in a research note on Monday, July 28th. Three equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $39.50.

Read Our Latest Report on CNC

Insider Buying and Selling at Centene

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

Centene Price Performance

Shares of Centene stock opened at $35.61 on Friday. The firm has a fifty day simple moving average of $31.97 and a 200-day simple moving average of $43.94. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.64. Centene Corporation has a 1-year low of $25.08 and a 1-year high of $70.11. The stock has a market capitalization of $17.49 billion, a price-to-earnings ratio of 8.81, a PEG ratio of 1.41 and a beta of 0.48.

Centene (NYSE:CNC - Get Free Report) last issued its quarterly earnings data on Friday, July 25th. The company reported ($0.16) earnings per share for the quarter, missing analysts' consensus estimates of $0.23 by ($0.39). Centene had a return on equity of 9.57% and a net margin of 1.15%.The firm had revenue of $48.74 billion during the quarter, compared to analyst estimates of $44.71 billion. During the same quarter in the previous year, the firm posted $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 expect that Centene Corporation will post 6.86 earnings per share for the current year.

Centene Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Centene (NYSE:CNC)

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