Focus Partners Advisor Solutions LLC Acquires Shares of 70,327 Centene Corporation $CNC

Key Points

• Focus Partners Advisor Solutions acquired 70,327 Centene shares worth approximately $4.5 million during the second quarter. Institutional investors and hedge funds collectively own 93.63% of Centene’s outstanding stock.
• Analyst sentiment remains mixed but generally favorable: the consensus rating is “Hold” with an average price target of $69.15, while several firms recently raised targets to between $74 and $80.
• Centene reported strong quarterly results, posting $2.51 in adjusted EPS versus the $1.09 consensus estimate and $53.58 billion in revenue, up 9.9% year over year. Shares opened at $67.53, near their 52-week high of $69.36.

Focus Partners Advisor Solutions LLC bought a new position in shares of Centene Corporation (NYSE:CNC - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 70,327 shares of the company's stock, valued at approximately $4,514,000.

Other large investors have also recently made changes to their positions in the company. State of Wyoming purchased a new position in Centene during the 2nd quarter worth approximately $751,000. GSA Capital Partners LLP purchased a new stake in Centene in the second quarter valued at approximately $2,134,000. Trust Asset Management LLC acquired a new stake in shares of Centene in the second quarter valued at approximately $346,000. Tema ETFs LLC grew its position in shares of Centene by 10.4% during the second quarter. Tema ETFs LLC now owns 9,261 shares of the company's stock worth $594,000 after acquiring an additional 870 shares during the last quarter. Finally, Fulton Bank N.A. acquired a new position in shares of Centene in the 2nd quarter valued at $296,000. 93.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on CNC shares. Cantor Fitzgerald upped their price target on shares of Centene from $60.00 to $75.00 and gave the company an "overweight" rating in a research report on Tuesday, July 7th. Robert W. Baird lifted their price objective on shares of Centene from $46.00 to $66.00 and gave the company a "neutral" rating in a research note on Wednesday, July 29th. Raymond James Financial set a $75.00 target price on shares of Centene in a report on Tuesday, July 7th. Bank of America boosted their price target on Centene from $72.00 to $74.00 and gave the company a "buy" rating in a research report on Thursday, June 4th. Finally, Barclays reaffirmed an "overweight" rating and set a $80.00 price objective (up from $75.00) on shares of Centene in a research report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $69.15.

Centene Stock Up 2.3%

Shares of NYSE:CNC opened at $67.53 on Friday. Centene Corporation has a fifty-two week low of $27.76 and a fifty-two week high of $69.36. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.71. The firm's 50-day simple moving average is $65.00 and its 200-day simple moving average is $51.65. The company has a market cap of $33.36 billion, a price-to-earnings ratio of -6.47, a PEG ratio of 0.36 and a beta of 1.08.

Centene (NYSE:CNC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $53.58 billion during the quarter, compared to analysts' expectations of $47.64 billion. During the same period in the prior year, the company posted ($0.16) earnings per share. The firm's revenue for the quarter was up 9.9% on a year-over-year basis. Centene has set its FY 2026 guidance at 4.800- EPS. As a group, equities research analysts predict that Centene Corporation will post 4.89 earnings per share for the current year.

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.

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