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

Lincluden Management Ltd. decreased its position in Centene Corporation (NYSE:CNC) by 1.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,973 shares of the company’s stock after selling 1,339 shares during the quarter. Lincluden Management Ltd.’s holdings in Centene were worth $4,287,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Quadcap Wealth Management LLC increased its position in shares of Centene by 3.2% in the first quarter. Quadcap Wealth Management LLC now owns 5,617 shares of the company’s stock valued at $341,000 after acquiring an additional 172 shares during the last quarter. Poinciana Advisors Group LLC increased its position in shares of Centene by 2.8% in the first quarter. Poinciana Advisors Group LLC now owns 7,221 shares of the company’s stock valued at $438,000 after acquiring an additional 195 shares during the last quarter. Carnegie Investment Counsel increased its position in shares of Centene by 6.0% in the first quarter. Carnegie Investment Counsel now owns 3,811 shares of the company’s stock valued at $234,000 after acquiring an additional 215 shares during the last quarter. Allworth Financial LP increased its position in shares of Centene by 6.1% in the first quarter. Allworth Financial LP now owns 4,387 shares of the company’s stock valued at $270,000 after acquiring an additional 254 shares during the last quarter. Finally, Amalgamated Bank increased its position in shares of Centene by 0.3% in the first quarter. Amalgamated Bank now owns 97,346 shares of the company’s stock valued at $5,910,000 after acquiring an additional 265 shares during the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Trading Down 5.5%

Shares of NYSE:CNC opened at $35.75 on Friday. Centene Corporation has a 12-month low of $25.08 and a 12-month high of $73.50. The stock has a market cap of $17.56 billion, a PE ratio of 8.85, a P/E/G ratio of 1.45 and a beta of 0.48. The business has a 50 day moving average of $31.14 and a 200-day moving average of $44.50. 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 (NYSE:CNC) last issued its quarterly earnings data on Friday, July 25th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.39). Centene had a return on equity of 9.57% and a net margin of 1.15%.The firm had revenue of $48.74 billion for the quarter, compared to the consensus estimate of $44.71 billion. During the same quarter in the prior year, the firm earned $2.42 EPS. The company’s revenue was up 22.4% on a year-over-year basis. Centene has set its FY 2025 guidance at 1.750-1.750 EPS. As a group, equities research analysts forecast that Centene Corporation will post 6.86 earnings per share for the current year.

Insider Buying and Selling

In other Centene news, Director Theodore R. Samuels II purchased 9,000 shares of the company’s stock in a transaction dated Monday, July 28th. The stock was bought at an average cost of $27.62 per share, for a total transaction of $248,580.00. Following the completion of the transaction, the director owned 32,000 shares in the company, valued at approximately $883,840. This represents a 39.13% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Sarah London purchased 19,230 shares of the company’s stock in a transaction dated Friday, August 8th. The stock was 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. This represents a 2.33% increase in their position. The disclosure for this purchase can be found here. 0.36% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on CNC shares. Morgan Stanley lowered their target price on Centene from $33.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Monday, August 4th. Wells Fargo & Company set a $41.00 price target on Centene and gave the stock an “equal weight” rating in a report on Tuesday. JPMorgan Chase & Co. reduced their price target on Centene from $48.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, July 29th. Sanford C. Bernstein reduced their price target on Centene from $40.00 to $36.00 and set an “outperform” rating for the company in a report on Friday, September 5th. Finally, Robert W. Baird reduced their price target on Centene from $68.00 to $28.00 and set a “neutral” rating for the company in a report on Friday, July 25th. Three analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $39.07.

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.