Tobam Has $4.33 Million Holdings in Centene Corporation $CNC

Tobam boosted its stake in Centene Corporation (NYSE:CNC) by 236.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 121,376 shares of the company’s stock after purchasing an additional 85,280 shares during the period. Centene comprises approximately 1.6% of Tobam’s investment portfolio, making the stock its 21st biggest position. Tobam’s holdings in Centene were worth $4,331,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. UniSuper Management Pty Ltd lifted its holdings in shares of Centene by 66.0% in the 3rd quarter. UniSuper Management Pty Ltd now owns 85,232 shares of the company’s stock worth $3,041,000 after purchasing an additional 33,875 shares in the last quarter. Packer & Co Ltd acquired a new position in Centene during the third quarter worth $50,487,000. ARGA Investment Management LP bought a new position in shares of Centene in the third quarter valued at $21,485,000. First Citizens Bank & Trust Co. increased its position in shares of Centene by 122.5% during the third quarter. First Citizens Bank & Trust Co. now owns 223,157 shares of the company’s stock worth $7,962,000 after acquiring an additional 122,870 shares in the last quarter. Finally, Amundi raised its holdings in shares of Centene by 6.2% in the 2nd quarter. Amundi now owns 3,384,752 shares of the company’s stock worth $183,724,000 after acquiring an additional 199,016 shares during the last quarter. Institutional investors own 93.63% of the company’s stock.

Centene Trading Up 3.4%

NYSE CNC opened at $40.53 on Monday. The business’s fifty day moving average is $42.13 and its 200-day moving average is $36.44. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.10 and a quick ratio of 1.08. The stock has a market capitalization of $19.92 billion, a price-to-earnings ratio of -2.98, a PEG ratio of 0.90 and a beta of 0.48. Centene Corporation has a one year low of $25.08 and a one year high of $66.03.

Centene (NYSE:CNC) last posted 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 company had revenue of $49.73 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.80 earnings per share. Centene has set its FY 2026 guidance at 3.000-3.000 EPS. Equities research analysts predict that Centene Corporation will post 6.86 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on CNC. Wells Fargo & Company set a $43.00 price objective on Centene and gave the stock an “equal weight” rating in a report on Wednesday, January 7th. Jefferies Financial Group decreased their price target on Centene from $43.00 to $37.00 and set a “hold” rating for the company in a report on Friday. Weiss Ratings restated a “sell (d)” rating on shares of Centene in a research note on Wednesday, January 21st. The Goldman Sachs Group reiterated a “sell” rating and issued a $38.00 target price (up previously from $33.00) on shares of Centene in a report on Thursday, October 30th. Finally, Wall Street Zen lowered shares of Centene from a “buy” rating to a “hold” rating in a research report on Sunday. Three analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Centene has a consensus rating of “Hold” and a consensus price target of $41.81.

Centene 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.