Centene (NYSE:CNC) Stock Price Down 4.9% – Here’s What Happened

Centene Corporation (NYSE:CNC) shares fell 4.9% during trading on Monday . The stock traded as low as $32.60 and last traded at $32.7040. 3,052,776 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 6,575,922 shares. The stock had previously closed at $34.40.

Analysts Set New Price Targets

Several research analysts have issued reports on CNC shares. Argus raised Centene to a “hold” rating in a research report on Monday, February 9th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Centene in a research report on Wednesday, January 21st. Cantor Fitzgerald reissued a “neutral” rating and issued a $41.00 price objective on shares of Centene in a report on Monday, February 9th. TD Cowen upped their target price on shares of Centene from $34.00 to $38.00 and gave the company a “hold” rating in a report on Wednesday, February 11th. Finally, Mizuho set a $41.00 price target on shares of Centene and gave the stock a “neutral” rating in a research report on Tuesday, March 10th. Three research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $41.81.

Centene Stock Down 1.5%

The firm has a market capitalization of $15.98 billion, a PE ratio of -2.39, a P/E/G ratio of 0.73 and a beta of 0.48. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.10 and a quick ratio of 1.10. The company has a 50-day moving average price of $41.21 and a 200 day moving average price of $38.73.

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

Institutional Trading of Centene

Institutional investors and hedge funds have recently bought and sold shares of the stock. DV Equities LLC purchased a new position in shares of Centene during the fourth quarter valued at about $26,000. IFC & Insurance Marketing Inc. purchased a new stake in shares of Centene in the fourth quarter worth about $28,000. Addison Advisors LLC boosted its stake in Centene by 455.6% during the third quarter. Addison Advisors LLC now owns 739 shares of the company’s stock valued at $26,000 after buying an additional 606 shares during the last quarter. SBI Securities Co. Ltd. increased its stake in Centene by 118.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 749 shares of the company’s stock worth $31,000 after acquiring an additional 406 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Centene during the 3rd quarter worth approximately $27,000. 93.63% of the stock is currently owned by institutional investors.

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.