Handelsbanken Fonder AB Decreases Holdings in Centene Corporation $CNC

Handelsbanken Fonder AB lowered its position in Centene Corporation (NYSE:CNC) by 41.2% during the second quarter, HoldingsChannel.com reports. The fund owned 118,613 shares of the company’s stock after selling 83,141 shares during the quarter. Handelsbanken Fonder AB’s holdings in Centene were worth $7,614,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. DV Equities LLC purchased a new stake in Centene during the fourth quarter worth $26,000. IFC & Insurance Marketing Inc. purchased a new position in shares of Centene in the fourth quarter valued at $28,000. SBI Securities Co. Ltd. raised its stake in shares of Centene by 118.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 749 shares of the company’s stock worth $31,000 after buying an additional 406 shares during the last quarter. Bayban purchased a new stake in shares of Centene in the 4th quarter worth about $33,000. Finally, MV Capital Management Inc. acquired a new stake in Centene in the 4th quarter valued at about $34,000. 93.63% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CNC has been the subject of a number of research reports. Mizuho set a $63.00 target price on shares of Centene and gave the stock a “neutral” rating in a research report on Monday, June 8th. TD Cowen reiterated a “hold” rating and issued a $65.00 price target (up from $47.00) on shares of Centene in a research report on Tuesday, July 14th. The Goldman Sachs Group restated a “sell” rating and set a $40.00 price objective on shares of Centene in a research report on Wednesday, April 29th. UBS Group reaffirmed a “neutral” rating and issued a $61.00 target price (up from $55.00) on shares of Centene in a research note on Friday, May 22nd. Finally, Royal Bank Of Canada raised their price target on Centene from $70.00 to $71.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $69.15.

Centene Stock Performance

Shares of NYSE CNC opened at $66.11 on Friday. The company has a market cap of $32.66 billion, a PE ratio of -6.33, a price-to-earnings-growth ratio of 0.36 and a beta of 1.08. Centene Corporation has a 12 month low of $26.71 and a 12 month high of $69.36. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.15 and a quick ratio of 1.15. The company has a 50-day simple moving average of $64.89 and a 200-day simple moving average of $51.54.

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

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.