11,388 Shares in Centene Corporation $CNC Acquired by Fox Run Management L.L.C.

Key Points

• Fox Run Management L.L.C. has acquired 11,388 shares of Centene Corporation, valued at approximately $691,000, in the first quarter.
• Multiple hedge funds have adjusted their positions in Centene, with institutional investors now owning 93.63% of the stock.
• Centene reported a loss of $0.16 per share in its latest quarterly earnings, missing projections, despite revenue rising 22.4% year-over-year.

Fox Run Management L.L.C. purchased a new position in shares of Centene Corporation (NYSE:CNC - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,388 shares of the company's stock, valued at approximately $691,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CNC. United Capital Financial Advisors LLC increased its stake in Centene by 3.7% during the fourth quarter. United Capital Financial Advisors LLC now owns 9,691 shares of the company's stock worth $587,000 after acquiring an additional 348 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in Centene by 1.6% during the fourth quarter. Canada Pension Plan Investment Board now owns 1,107,296 shares of the company's stock worth $67,080,000 after acquiring an additional 16,996 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in Centene by 3.9% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 521,490 shares of the company's stock worth $31,574,000 after acquiring an additional 19,435 shares during the last quarter. Forum Financial Management LP increased its stake in Centene by 11.7% during the fourth quarter. Forum Financial Management LP now owns 9,075 shares of the company's stock worth $550,000 after acquiring an additional 951 shares during the last quarter. Finally, Ossiam grew its stake in shares of Centene by 95.2% in the fourth quarter. Ossiam now owns 22,292 shares of the company's stock valued at $1,350,000 after buying an additional 10,871 shares in the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Stock Up 1.1%

NYSE CNC traded up $0.3150 during mid-day trading on Tuesday, reaching $29.3050. 16,720,832 shares of the company's stock traded hands, compared to its average volume of 20,815,892. Centene Corporation has a 1-year low of $25.08 and a 1-year high of $80.59. The company has a fifty day simple moving average of $36.41 and a 200-day simple moving average of $51.43. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.64. The company has a market cap of $14.39 billion, a price-to-earnings ratio of 7.25, a P/E/G ratio of 1.18 and a beta of 0.40.

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 net margin of 1.15% and a return on equity of 9.57%. The business had revenue of $48.74 billion for the quarter, compared to analyst estimates of $44.71 billion. During the same quarter last year, the business earned $2.42 EPS. Centene's revenue for the quarter was up 22.4% compared to the same quarter last year. Centene has set its FY 2025 guidance at 1.750-1.750 EPS. As a group, equities research analysts expect that Centene Corporation will post 6.86 EPS for the current year.

Insider Buying and Selling

In other news, CEO Sarah London bought 19,230 shares of Centene stock in a transaction 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 acquisition, the chief executive officer directly owned 845,275 shares in the company, valued at approximately $21,554,512.50. This represents a 2.33% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Theodore R. Samuels II bought 9,000 shares of Centene stock in a transaction on Monday, July 28th. The shares were purchased at an average cost of $27.62 per share, for a total transaction of $248,580.00. Following the acquisition, the director owned 32,000 shares in the company, valued at $883,840. The trade was a 39.13% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.36% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Truist Financial lowered their target price on Centene from $42.00 to $35.00 and set a "buy" rating for the company in a research note on Monday, July 28th. Guggenheim reiterated a "neutral" rating on shares of Centene in a research note on Tuesday, April 29th. JPMorgan Chase & Co. lowered their target price on Centene from $48.00 to $30.00 and set a "neutral" rating for the company in a research note on Tuesday, July 29th. Bank of America lowered Centene from a "neutral" rating to an "underperform" rating and lowered their target price for the company from $52.00 to $30.00 in a research note on Wednesday, July 16th. Finally, Wall Street Zen lowered Centene from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Three investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $42.20.

Centene 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.