111 Capital Decreases Stock Holdings in Centene Corporation $CNC

111 Capital lessened its stake in Centene Corporation (NYSE:CNC) by 37.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,312 shares of the company’s stock after selling 7,498 shares during the period. 111 Capital’s holdings in Centene were worth $668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Polianta Ltd purchased a new stake in Centene during the second quarter valued at approximately $1,253,000. Oliver Luxxe Assets LLC purchased a new stake in shares of Centene during the 2nd quarter valued at $4,033,000. Focus Partners Wealth boosted its position in shares of Centene by 83.1% in the 1st quarter. Focus Partners Wealth now owns 42,270 shares of the company’s stock worth $2,566,000 after purchasing an additional 19,181 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in 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 in the last quarter. Finally, Sapient Capital LLC purchased a new stake in Centene in the second quarter valued at about $493,000. 93.63% of the stock is owned by hedge funds and other institutional investors.

Centene Trading Up 5.1%

Shares of Centene stock opened at $38.71 on Friday. The stock has a market cap of $19.01 billion, a PE ratio of 9.58, a price-to-earnings-growth ratio of 1.57 and a beta of 0.48. The firm has a fifty day moving average price of $29.98 and a 200 day moving average price of $45.26. Centene Corporation has a 1 year low of $25.08 and a 1 year high of $73.50. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.10 and a quick ratio of 1.10.

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

Insider Buying and Selling

In other news, Director Theodore R. Samuels II purchased 9,000 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were purchased at an average cost of $27.62 per share, with a total value of $248,580.00. Following the completion of the acquisition, the director owned 32,000 shares of the company’s stock, valued at approximately $883,840. This represents a 39.13% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sarah London acquired 19,230 shares of the business’s stock in a transaction on Friday, August 8th. The stock was purchased at an average cost of $25.50 per share, with a total value of $490,365.00. Following the acquisition, the chief executive officer directly owned 845,275 shares of the company’s stock, valued at $21,554,512.50. This represents a 2.33% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CNC shares. Cantor Fitzgerald restated a “neutral” rating and set a $38.00 price objective on shares of Centene in a report on Tuesday, August 26th. Weiss Ratings restated a “sell (d)” rating on shares of Centene in a research note on Saturday, September 27th. Wells Fargo & Company cut shares of Centene from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $72.00 to $30.00 in a report on Wednesday, July 23rd. Wall Street Zen lowered shares of Centene from a “buy” rating to a “hold” rating in a report on Saturday, July 12th. Finally, Morgan Stanley reduced their target price on Centene from $33.00 to $28.00 and set an “equal weight” rating for the company in a research note on Monday, August 4th. Three research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $38.33.

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.