Centene Corporation $CNC Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lowered its position in Centene Corporation (NYSE:CNC) by 99.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,005 shares of the company’s stock after selling 290,000 shares during the quarter. Federated Hermes Inc.’s holdings in Centene were worth $72,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. WPG Advisers LLC raised its stake in Centene by 44.5% during the 3rd quarter. WPG Advisers LLC now owns 915 shares of the company’s stock valued at $33,000 after acquiring an additional 282 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Centene by 11.6% during the third quarter. Versant Capital Management Inc now owns 3,421 shares of the company’s stock valued at $122,000 after purchasing an additional 355 shares in the last quarter. Snowden Capital Advisors LLC lifted its holdings in Centene by 8.0% in the second quarter. Snowden Capital Advisors LLC now owns 5,073 shares of the company’s stock worth $275,000 after purchasing an additional 374 shares during the period. Financial Network Wealth Advisors LLC grew its position in Centene by 54.9% in the 3rd quarter. Financial Network Wealth Advisors LLC now owns 1,100 shares of the company’s stock valued at $39,000 after buying an additional 390 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its position in shares of Centene by 29.8% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,897 shares of the company’s stock worth $103,000 after buying an additional 435 shares in the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Trading Down 1.1%

NYSE:CNC opened at $38.04 on Tuesday. The stock has a fifty day simple moving average of $42.03 and a 200 day simple moving average of $36.07. The company has a quick ratio of 1.08, a current ratio of 1.10 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $18.70 billion, a price-to-earnings ratio of -2.79, a price-to-earnings-growth ratio of 0.88 and a beta of 0.48. Centene Corporation has a 1-year low of $25.08 and a 1-year high of $66.03.

Centene (NYSE:CNC) last posted its quarterly earnings data on Friday, February 6th. The company reported ($1.19) EPS for the quarter, beating analysts’ consensus estimates 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 business’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.80 earnings per share. Centene has set its FY 2026 guidance at 3.000-3.000 EPS. Sell-side analysts forecast that Centene Corporation will post 6.86 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on CNC. Morgan Stanley increased their price objective on shares of Centene from $28.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, October 14th. Oppenheimer reiterated an “outperform” rating and set a $45.00 price target on shares of Centene in a research report on Thursday, October 30th. TD Cowen restated a “hold” rating on shares of Centene in a report on Friday, October 31st. Barclays set a $44.00 target price on Centene and gave the stock an “equal weight” rating in a report on Tuesday, November 4th. Finally, JPMorgan Chase & Co. upped their price target on shares of Centene from $38.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Centene has an average rating of “Hold” and an average target price of $40.81.

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.