UniSuper Management Pty Ltd Sells 1,169 Shares of Centene Corporation $CNC

UniSuper Management Pty Ltd reduced its stake in shares of Centene Corporation (NYSE:CNC) by 2.3% in the 1st quarter, Holdings Channel reports. The firm owned 50,264 shares of the company’s stock after selling 1,169 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Centene were worth $3,052,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Ameriflex Group Inc. bought a new position in Centene during the 4th quarter worth $26,000. Pinney & Scofield Inc. bought a new position in shares of Centene in the 4th quarter worth about $25,000. Quarry LP bought a new position in shares of Centene in the 1st quarter worth about $26,000. Studio Investment Management LLC bought a new position in shares of Centene in the 4th quarter worth about $32,000. Finally, Golden State Wealth Management LLC raised its position in shares of Centene by 203.1% in the 1st quarter. Golden State Wealth Management LLC now owns 579 shares of the company’s stock worth $35,000 after acquiring an additional 388 shares in the last quarter. 93.63% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Theodore R. Samuels II acquired 9,000 shares of the firm’s stock in a transaction on Monday, July 28th. The stock was purchased at an average cost of $27.62 per share, with a total value of $248,580.00. Following the acquisition, the director owned 32,000 shares of the company’s stock, valued at approximately $883,840. This trade represents a 39.13% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sarah London acquired 19,230 shares of the firm’s stock in a transaction on Friday, August 8th. The shares were bought at an average cost of $25.50 per share, with a total value of $490,365.00. Following the completion of the acquisition, the chief executive officer directly owned 845,275 shares in the company, valued at approximately $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.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CNC. Mizuho lowered their price objective on Centene from $71.00 to $40.00 and set a “neutral” rating for the company in a research report on Friday, July 11th. Cantor Fitzgerald reissued a “neutral” rating and issued a $38.00 price objective on shares of Centene in a research report on Tuesday, August 26th. Barclays set a $33.00 price objective on Centene and gave the stock an “equal weight” rating in a research report on Thursday, September 4th. Truist Financial reduced their target price on Centene from $42.00 to $35.00 and set a “buy” rating for the company in a research note on Monday, July 28th. Finally, UBS Group reduced their target price on Centene from $45.00 to $31.00 and set a “neutral” rating for the company in a research note on Monday, July 28th. Three equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $37.93.

Centene Stock Performance

Shares of CNC opened at $31.14 on Wednesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a 50 day moving average price of $28.78 and a two-hundred day moving average price of $48.37. The firm has a market capitalization of $15.29 billion, a P/E ratio of 7.71, a P/E/G ratio of 1.17 and a beta of 0.44. Centene Corporation has a 52 week low of $25.08 and a 52 week high of $77.29.

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

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.