Swiss National Bank Sells 67,700 Shares of Centene Corporation $CNC

Key Points

• Swiss National Bank trimmed its Centene stake by 4.5%, selling 67,700 shares and leaving 1,434,024 shares (about 0.29% of the company) valued at roughly $51.17 million at quarter-end.
• Centene shares were down about 3.9% (opened at $34.46); the company reported Q results with EPS of ($1.19) beating estimates and revenue of $49.73 billion (+21.9% Y/Y), set FY2026 guidance at 3.00 EPS, and carries an analyst consensus of "Hold" with an average price target of $42.06.

Swiss National Bank reduced its position in shares of Centene Corporation (NYSE:CNC - Free Report) by 4.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,434,024 shares of the company's stock after selling 67,700 shares during the period. Swiss National Bank owned approximately 0.29% of Centene worth $51,166,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Addison Advisors LLC increased its stake in Centene by 455.6% in the 3rd quarter. Addison Advisors LLC now owns 739 shares of the company's stock worth $26,000 after acquiring an additional 606 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Centene during the 3rd quarter valued at about $27,000. WPG Advisers LLC grew its holdings in shares of Centene by 44.5% during the third quarter. WPG Advisers LLC now owns 915 shares of the company's stock worth $33,000 after purchasing an additional 282 shares in the last quarter. Bogart Wealth LLC increased its position in shares of Centene by 11,011.1% in the third quarter. Bogart Wealth LLC now owns 1,000 shares of the company's stock worth $36,000 after purchasing an additional 991 shares during the last quarter. Finally, Ameriflex Group Inc. raised its stake in Centene by 152.5% in the third quarter. Ameriflex Group Inc. now owns 1,010 shares of the company's stock valued at $36,000 after purchasing an additional 610 shares in the last quarter. Institutional investors own 93.63% of the company's stock.

Centene Stock Down 3.9%

Shares of Centene stock opened at $34.46 on Friday. The company's 50 day moving average price is $42.96 and its 200-day moving average price is $38.29. Centene Corporation has a 52-week low of $25.08 and a 52-week high of $66.03. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market capitalization of $16.95 billion, a price-to-earnings ratio of -2.53, a P/E/G ratio of 0.79 and a beta of 0.48.

Centene (NYSE:CNC - Get Free Report) last announced its quarterly earnings results on Friday, February 6th. The company reported ($1.19) earnings per share for the quarter, beating the consensus estimate of ($1.22) by $0.03. The business had revenue of $49.73 billion during the quarter, compared to analysts' expectations of $48.41 billion. Centene had a negative net margin of 3.43% and a positive return on equity of 4.25%. The firm's revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.80 EPS. Centene has set its FY 2026 guidance at 3.000-3.000 EPS. Equities research analysts forecast that Centene Corporation will post 6.86 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have commented on CNC. Truist Financial boosted their price target on shares of Centene from $47.00 to $49.00 and gave the stock a "buy" rating in a research note on Wednesday, February 25th. JPMorgan Chase & Co. lifted their price objective on shares of Centene from $38.00 to $45.00 and gave the stock a "neutral" rating in a report on Thursday, January 22nd. Wells Fargo & Company set a $44.00 target price on Centene and gave the company an "equal weight" rating in a research note on Wednesday, February 18th. Mizuho set a $41.00 price target on Centene and gave the company a "neutral" rating in a research report on Tuesday. Finally, Morgan Stanley lifted their price target on Centene from $38.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Wednesday, March 4th. Three analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $42.06.

About Centene

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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