Oppenheimer Asset Management Inc. Sells 41,410 Shares of Centene Corporation $CNC

Key Points

• Oppenheimer Asset Management reduced its stake in Centene by 15.9%, selling 41,410 shares and ending the quarter with 219,002 shares worth about $9.01 million per its latest 13F filing.
• Centene beat Q1 expectations with $3.37 EPS (vs. $2.23 est.) and $49.94 billion in revenue, prompting several broker upgrades and higher price targets, though analyst sentiment remains mixed and the consensus rating is a "Hold" with a $52.12 target.
• The stock recently traded around $53.37, has a one‑year range of $25.08–$64.15, a market cap of about $26.36 billion, a negative P/E of -4.06, and is ~93.63% owned by institutional investors.

Oppenheimer Asset Management Inc. decreased its holdings in shares of Centene Corporation (NYSE:CNC - Free Report) by 15.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 219,002 shares of the company's stock after selling 41,410 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Centene were worth $9,012,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Addison Advisors LLC boosted its holdings in Centene by 455.6% in the third quarter. Addison Advisors LLC now owns 739 shares of the company's stock worth $26,000 after purchasing an additional 606 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Centene in the 3rd quarter valued at $27,000. GoalVest Advisory LLC bought a new stake in Centene in the 4th quarter valued at $37,000. Union Bancaire Privee UBP SA bought a new stake in Centene in the 4th quarter valued at $37,000. Finally, WPG Advisers LLC increased its holdings in 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 acquiring an additional 282 shares during the last quarter. Institutional investors own 93.63% of the company's stock.

Centene Price Performance

Centene stock opened at $53.37 on Friday. The firm has a 50-day moving average of $38.91 and a two-hundred day moving average of $39.45. Centene Corporation has a 1 year low of $25.08 and a 1 year high of $64.15. The stock has a market cap of $26.36 billion, a price-to-earnings ratio of -4.06, a price-to-earnings-growth ratio of 1.03 and a beta of 1.06. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.12 and a quick ratio of 1.10.

Centene (NYSE:CNC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $3.37 earnings per share for the quarter, topping the consensus estimate of $2.23 by $1.14. Centene had a negative net margin of 3.25% and a positive return on equity of 5.57%. The firm had revenue of $49.94 billion during the quarter, compared to analysts' expectations of $47.53 billion. During the same quarter in the prior year, the company earned $2.90 EPS. The company's revenue was up 7.1% compared to the same quarter last year. On average, research analysts forecast that Centene Corporation will post 3.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

CNC has been the topic of a number of research reports. Bank of America upgraded shares of Centene from an "underperform" rating to a "buy" rating and lifted their price target for the company from $34.00 to $60.00 in a report on Wednesday. Jefferies Financial Group boosted their target price on shares of Centene from $39.00 to $48.00 and gave the stock a "hold" rating in a report on Wednesday. Robert W. Baird boosted their target price on shares of Centene from $36.00 to $37.00 and gave the stock a "neutral" rating in a report on Wednesday, April 15th. The Goldman Sachs Group restated a "sell" rating and issued a $40.00 target price on shares of Centene in a report on Wednesday. Finally, UBS Group boosted their target price on shares of Centene from $42.00 to $55.00 and gave the stock a "neutral" rating in a report on Wednesday. Six analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $52.12.

Centene News Summary

Here are the key news stories impacting Centene this week:

• Positive Sentiment: Q1 results beat expectations: Centene reported stronger-than-expected EPS and raised its outlook, which supports margin improvement narratives that helped multiple brokers upgrade or re-assess the name. Read More.
• Positive Sentiment: Wall Street bullish notes: Truist reiterated a Buy rating and Cantor Fitzgerald upgraded the stock, signaling investor confidence from some major brokers. Read More. Read More.
• Positive Sentiment: Longer-term recovery thesis boosted: A Seeking Alpha piece highlights promising 2027 turnaround prospects and potential momentum reversal—supportive for investors focused on multi‑year recovery. Read More.
• Positive Sentiment: Wells Fargo raised its price target to $56 while keeping an Equal Weight view, indicating some upside in the broker community even as conviction is measured. Read More.
• Neutral Sentiment: Broker PTs raised but ratings cautious: Deutsche Bank, Mizuho and Morgan Stanley all lifted targets (to $53, $50 and $50 respectively) but maintained Hold/Neutral/Equal Weight stances — a modest vote of confidence that stops short of strong endorsement. Read More. Read More. Read More.
• Neutral Sentiment: Analysts’ opinions remain mixed overall — coverage notes a blend of upgrades and cautious takes, keeping sentiment balanced rather than uniformly positive. Read More.
• Negative Sentiment: Lower consensus price target: A brokerage consensus report shows a $42 average target — well below current levels — which could cap upside if that view gains traction. Read More.
• Negative Sentiment: Execution concerns flagged: A Seeking Alpha commentary warns that further upside will require better operational execution, a caution investors may lean on after recent volatility. Read More.

Centene Company 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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