Wedge Capital Management L L P NC Reduces Holdings in Centene Corporation $CNC

Wedge Capital Management L L P NC lessened its holdings in Centene Corporation (NYSE:CNC) by 34.7% during the 2nd quarter, Holdings Channel reports. The firm owned 487,090 shares of the company’s stock after selling 258,935 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Centene were worth $31,266,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. DV Equities LLC purchased a new stake in Centene in the 4th quarter valued at approximately $26,000. IFC & Insurance Marketing Inc. acquired a new position in shares of Centene in the fourth quarter valued at approximately $28,000. SBI Securities Co. Ltd. boosted its position in Centene by 118.4% during the fourth 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. Bayban acquired a new position in Centene in the 4th quarter valued at $33,000. Finally, MV Capital Management Inc. acquired a new stake in shares of Centene during the fourth quarter worth $34,000. 93.63% of the stock is owned by hedge funds and other institutional investors.

Centene Stock Performance

NYSE CNC opened at $64.89 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.15 and a quick ratio of 1.15. Centene Corporation has a 1-year low of $25.28 and a 1-year high of $69.36. The firm has a market capitalization of $32.06 billion, a P/E ratio of -6.22, a P/E/G ratio of 0.36 and a beta of 1.08. The business’s 50-day simple moving average is $64.67 and its 200-day simple moving average is $51.24.

Centene (NYSE:CNC) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $2.51 EPS for the quarter, beating the consensus estimate of $1.09 by $1.42. Centene had a negative net margin of 2.51% and a positive return on equity of 12.12%. The firm had revenue of $53.58 billion for the quarter, compared to analyst estimates of $47.64 billion. During the same quarter last year, the firm posted ($0.16) earnings per share. Centene’s revenue for the quarter was up 9.9% compared to the same quarter last year. Centene has set its FY 2026 guidance at 4.800- EPS. Equities analysts predict that Centene Corporation will post 4.89 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CNC shares. Robert W. Baird increased their target price on Centene from $46.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Centene in a research note on Friday, July 17th. Zacks Research upgraded shares of Centene from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 29th. TD Cowen reaffirmed a “hold” rating and set a $65.00 price target (up from $47.00) on shares of Centene in a research report on Tuesday, July 14th. Finally, Argus raised shares of Centene from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $69.15.

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.