10,353 Shares in Centene Corporation $CNC Purchased by Arista Wealth Management LLC

Arista Wealth Management LLC acquired a new position in shares of Centene Corporation (NYSE:CNC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,353 shares of the company’s stock, valued at approximately $562,000.

Other institutional investors have also added to or reduced their stakes in the company. Quarry LP purchased a new stake in Centene during the 1st quarter worth about $26,000. Golden State Wealth Management LLC lifted its holdings in Centene by 203.1% during the 1st quarter. Golden State Wealth Management LLC now owns 579 shares of the company’s stock worth $35,000 after purchasing an additional 388 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in Centene during the 1st quarter worth about $73,000. Trust Co. of Toledo NA OH bought a new position in Centene in the 2nd quarter worth about $77,000. Finally, Geneos Wealth Management Inc. increased its stake in Centene by 78.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,462 shares of the company’s stock worth $89,000 after acquiring an additional 641 shares during the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Centene Price Performance

Shares of Centene stock opened at $35.30 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $17.34 billion, a PE ratio of 8.74, a price-to-earnings-growth ratio of 1.40 and a beta of 0.48. The business’s 50-day moving average price is $32.16 and its 200-day moving average price is $43.77. Centene Corporation has a 12 month low of $25.08 and a 12 month high of $70.11.

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%. Centene’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.42 earnings per share. Centene has set its FY 2025 guidance at 1.750-1.750 EPS. Sell-side analysts forecast that Centene Corporation will post 6.86 EPS for the current fiscal year.

Insider Activity at Centene

In related news, Director Theodore R. Samuels II purchased 9,000 shares of Centene 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 transaction, the director directly owned 32,000 shares in the company, valued at $883,840. The trade was a 39.13% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sarah London purchased 19,230 shares of Centene stock in a transaction that occurred on Friday, August 8th. The shares were bought at an average price of $25.50 per share, for a total transaction of $490,365.00. Following the completion of the transaction, the chief executive officer owned 845,275 shares in the company, valued at $21,554,512.50. The trade was a 2.33% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.36% of the stock is owned by company insiders.

Analysts Set New Price Targets

CNC has been the topic of a number of research analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of Centene in a research note on Wednesday, October 8th. Bank of America lowered Centene from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $52.00 to $30.00 in a research note on Wednesday, July 16th. Wells Fargo & Company set a $41.00 target price on Centene and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. Robert W. Baird decreased their target price on Centene from $68.00 to $28.00 and set a “neutral” rating on the stock in a research note on Friday, July 25th. 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 research note on Friday, September 5th. Three investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $39.50.

About Centene

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.