Lincluden Management Ltd. Has $4.29 Million Stock Position in Centene Corporation $CNC

Lincluden Management Ltd. reduced its position in shares of Centene Corporation (NYSE:CNC) by 1.7% in the 2nd quarter, Holdings Channel reports. The firm owned 78,973 shares of the company’s stock after selling 1,339 shares during the period. Lincluden Management Ltd.’s holdings in Centene were worth $4,287,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CNC. AQR Capital Management LLC raised its position in Centene by 42.7% during the first quarter. AQR Capital Management LLC now owns 11,049,494 shares of the company’s stock valued at $669,820,000 after purchasing an additional 3,306,796 shares in the last quarter. Nuveen LLC acquired a new position in Centene during the first quarter valued at approximately $146,557,000. Boston Partners raised its position in Centene by 155.3% during the first quarter. Boston Partners now owns 3,901,603 shares of the company’s stock valued at $236,802,000 after purchasing an additional 2,373,280 shares in the last quarter. 8 Knots Management LLC increased its holdings in shares of Centene by 52.5% during the first quarter. 8 Knots Management LLC now owns 3,050,904 shares of the company’s stock worth $185,220,000 after buying an additional 1,050,648 shares in the last quarter. Finally, Focused Investors LLC increased its holdings in shares of Centene by 588.1% during the first quarter. Focused Investors LLC now owns 1,042,400 shares of the company’s stock worth $63,284,000 after buying an additional 890,900 shares in the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Stock Performance

Shares of Centene stock opened at $35.75 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.64. Centene Corporation has a twelve month low of $25.08 and a twelve month high of $73.50. The stock has a market cap of $17.56 billion, a price-to-earnings ratio of 8.85, a P/E/G ratio of 1.45 and a beta of 0.48. The company’s fifty day moving average is $31.14 and its 200 day moving average is $44.50.

Centene (NYSE:CNC) last issued its quarterly earnings data 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). Centene had a return on equity of 9.57% and a net margin of 1.15%.The business had revenue of $48.74 billion during the quarter, compared to the consensus estimate of $44.71 billion. During the same period in the prior year, the firm earned $2.42 EPS. The business’s revenue for the quarter was up 22.4% compared to the same quarter last year. 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 year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Morgan Stanley lowered their price target on shares of Centene from $33.00 to $28.00 and set an “equal weight” rating for the company in a report on Monday, August 4th. JPMorgan Chase & Co. lowered their price target on shares of Centene from $48.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, July 29th. Weiss Ratings reiterated a “sell (d)” rating on shares of Centene in a report on Wednesday. Barclays upped their price target on shares of Centene from $33.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, September 12th. Finally, Mizuho upped their price target on shares of Centene from $28.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday. Three research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $39.07.

Insiders Place Their Bets

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

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.