Sequoia Financial Advisors LLC Acquires 7,184 Shares of Centene Corporation $CNC

Key Points

• Sequoia Financial Advisors LLC increased its stake in Centene Corporation by 90.4%, acquiring an additional 7,184 shares during the second quarter, bringing their total holdings to 15,135 shares valued at $822,000.
• CEO Sarah London purchased 19,230 shares of Centene at an average price of $25.50 per share, raising her total ownership in the company to approximately $21.55 million.
• Centene's recent quarterly earnings report showed a revenue of $48.74 billion, a year-over-year increase of 22.4%, despite posting a loss of ($0.16) EPS that missed analysts' expectations.

Sequoia Financial Advisors LLC boosted its holdings in shares of Centene Corporation (NYSE:CNC - Free Report) by 90.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,135 shares of the company's stock after acquiring an additional 7,184 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Centene were worth $822,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. MGO One Seven LLC grew its holdings in Centene by 9.7% during the 2nd quarter. MGO One Seven LLC now owns 14,006 shares of the company's stock worth $760,000 after acquiring an additional 1,240 shares during the last quarter. OFI Invest Asset Management grew its holdings in Centene by 44.9% during the 2nd quarter. OFI Invest Asset Management now owns 1,700 shares of the company's stock worth $92,000 after acquiring an additional 527 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in Centene by 44.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 63,679 shares of the company's stock worth $3,457,000 after acquiring an additional 19,629 shares during the last quarter. waypoint wealth counsel grew its holdings in Centene by 57.5% during the 2nd quarter. waypoint wealth counsel now owns 5,960 shares of the company's stock worth $324,000 after acquiring an additional 2,177 shares during the last quarter. Finally, Trust Co. of Toledo NA OH bought a new stake in Centene during the 2nd quarter worth approximately $77,000. 93.63% of the stock is owned by institutional investors.

Insider Buying and Selling at Centene

In other Centene news, CEO Sarah London acquired 19,230 shares of the stock in a transaction on Friday, August 8th. The shares were purchased at an average price of $25.50 per share, for a total transaction of $490,365.00. Following the completion of the acquisition, the chief executive officer owned 845,275 shares in the company, valued at approximately $21,554,512.50. This represents a 2.33% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Theodore R. Samuels II acquired 9,000 shares of the stock in a transaction on Monday, July 28th. The shares were acquired at an average price of $27.62 per share, for a total transaction of $248,580.00. Following the acquisition, the director owned 32,000 shares of the company's stock, valued at approximately $883,840. The trade was a 39.13% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.36% of the company's stock.

Centene Trading Down 1.0%

Shares of Centene stock opened at $35.30 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.10 and a current ratio of 1.10. Centene Corporation has a 52 week low of $25.08 and a 52 week high of $70.11. The stock has a 50 day moving average price of $32.16 and a two-hundred day moving average price of $43.65. The stock has a market capitalization of $17.33 billion, a PE ratio of 8.74, a price-to-earnings-growth ratio of 1.39 and a beta of 0.48.

Centene (NYSE:CNC - Get Free Report) last announced its quarterly earnings data on Friday, July 25th. The company reported ($0.16) EPS 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 firm had revenue of $48.74 billion during the quarter, compared to analyst estimates of $44.71 billion. During the same period last year, the business posted $2.42 EPS. The company's revenue was up 22.4% on a year-over-year basis. Centene has set its FY 2025 guidance at 1.750-1.750 EPS. As a group, equities analysts anticipate that Centene Corporation will post 6.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CNC. Cantor Fitzgerald restated a "neutral" rating and issued a $38.00 price target on shares of Centene in a research report on Tuesday, August 26th. Morgan Stanley boosted their price target on shares of Centene from $28.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 14th. Weiss Ratings restated a "sell (d)" rating on shares of Centene in a research report on Wednesday, October 8th. Barclays boosted their price target on shares of Centene from $33.00 to $35.00 and gave the stock an "equal weight" rating in a research report on Friday, September 12th. Finally, Bank of America downgraded shares of Centene from a "neutral" rating to an "underperform" rating and dropped their price target for the stock from $52.00 to $30.00 in a research report on Wednesday, July 16th. Three analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $39.50.

About Centene

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.

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