waypoint wealth counsel Acquires 2,177 Shares of Centene Corporation $CNC

waypoint wealth counsel increased its holdings in shares of Centene Corporation (NYSE:CNC) by 57.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,960 shares of the company’s stock after purchasing an additional 2,177 shares during the quarter. waypoint wealth counsel’s holdings in Centene were worth $324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Invesco Ltd. lifted its position in Centene by 5.1% during the first quarter. Invesco Ltd. now owns 11,091,964 shares of the company’s stock valued at $673,393,000 after purchasing an additional 536,508 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Centene by 42.7% during the 1st quarter. AQR Capital Management LLC now owns 11,049,494 shares of the company’s stock valued at $669,820,000 after buying an additional 3,306,796 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Centene by 3.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,810,489 shares of the company’s stock valued at $292,045,000 after buying an additional 143,573 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Centene by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,433,451 shares of the company’s stock valued at $269,134,000 after buying an additional 28,462 shares during the period. Finally, LSV Asset Management lifted its holdings in Centene by 23.7% in the first quarter. LSV Asset Management now owns 4,055,764 shares of the company’s stock valued at $246,225,000 after acquiring an additional 776,331 shares during the period. Institutional investors own 93.63% of the company’s stock.

Centene Price Performance

NYSE CNC opened at $35.75 on Friday. The stock has a market cap of $17.56 billion, a price-to-earnings ratio of 8.85, a PEG ratio of 1.45 and a beta of 0.48. Centene Corporation has a 12 month low of $25.08 and a 12 month high of $73.50. The company’s 50 day moving average is $31.14 and its two-hundred day moving average is $44.50. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.64.

Centene (NYSE:CNC) last announced its quarterly earnings data on Friday, July 25th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of $0.23 by ($0.39). The firm had revenue of $48.74 billion for the quarter, compared to the consensus estimate of $44.71 billion. Centene had a net margin of 1.15% and a return on equity of 9.57%. The firm’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.42 earnings per share. Centene has set its FY 2025 guidance at 1.750-1.750 EPS. As a group, research analysts anticipate that Centene Corporation will post 6.86 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Wall Street Zen downgraded Centene from a “buy” rating to a “hold” rating in a report on Saturday, July 12th. Weiss Ratings reiterated a “sell (d)” rating on shares of Centene in a research note on Wednesday. Truist Financial increased their price target on shares of Centene from $35.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Bank of America downgraded shares of Centene from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $52.00 to $30.00 in a research report on Wednesday, July 16th. Finally, Sanford C. Bernstein decreased their target price on Centene from $40.00 to $36.00 and set an “outperform” rating on the stock in a report on Friday, September 5th. Three equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $39.07.

Insider Activity at Centene

In other Centene news, CEO Sarah London bought 19,230 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The shares were bought at an average price of $25.50 per share, with a total value of $490,365.00. Following the purchase, the chief executive officer owned 845,275 shares of the company’s stock, valued at $21,554,512.50. This trade represents a 2.33% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Theodore R. Samuels II bought 9,000 shares of the firm’s stock in a transaction that occurred on Monday, July 28th. The shares were acquired at an average cost of $27.62 per share, for a total transaction of $248,580.00. Following the purchase, the director directly owned 32,000 shares in the company, valued at $883,840. This trade represents a 39.13% increase in their position. The disclosure for this purchase can be found here. 0.36% of the stock is currently owned by company insiders.

Centene Company Profile

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children’s health insurance program, foster care, medicare-medicaid plans, long-term services and support.