Centene Corporation $CNC Shares Purchased by ProShare Advisors LLC

ProShare Advisors LLC raised its position in Centene Corporation (NYSE:CNC) by 13.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 129,081 shares of the company’s stock after purchasing an additional 14,815 shares during the quarter. ProShare Advisors LLC’s holdings in Centene were worth $4,606,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Centene during the 2nd quarter worth $1,435,997,000. Packer & Co Ltd bought a new stake in shares of Centene during the third quarter valued at about $50,487,000. Worldquant Millennium Advisors LLC acquired a new stake in Centene in the second quarter worth about $65,105,000. Vanguard Group Inc. increased its stake in Centene by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 58,396,605 shares of the company’s stock valued at $3,169,768,000 after buying an additional 869,706 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Centene during the 2nd quarter worth about $40,471,000. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Trading Up 3.4%

Shares of NYSE CNC opened at $40.53 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.10 and a debt-to-equity ratio of 0.87. Centene Corporation has a 12 month low of $25.08 and a 12 month high of $66.03. The company has a market cap of $19.92 billion, a price-to-earnings ratio of -2.98, a P/E/G ratio of 0.87 and a beta of 0.48. The business has a fifty day simple moving average of $42.13 and a 200-day simple moving average of $36.29.

Centene (NYSE:CNC) last issued its quarterly earnings results on Friday, February 6th. The company reported ($1.19) earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $48.41 billion. During the same quarter last year, the business posted $0.80 EPS. Centene’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. Sell-side analysts predict that Centene Corporation will post 6.86 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CNC shares. Zacks Research upgraded shares of Centene from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 29th. Weiss Ratings reiterated a “sell (d)” rating on shares of Centene in a research report on Wednesday, January 21st. Jefferies Financial Group upped their price objective on Centene from $25.00 to $32.00 in a report on Monday, November 3rd. Truist Financial lifted their target price on Centene from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Monday, January 5th. Finally, Mizuho set a $47.00 price objective on shares of Centene in a research report on Friday, January 9th. 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 MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $41.50.

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.