Arista Wealth Management LLC Takes Position in Centene Corporation $CNC

Arista Wealth Management LLC acquired a new stake in shares of Centene Corporation (NYSE:CNC) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,353 shares of the company’s stock, valued at approximately $562,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CNC. Quarry LP bought a new stake in shares of Centene during the first quarter valued at approximately $26,000. Golden State Wealth Management LLC increased its holdings in shares of Centene by 203.1% during the first quarter. Golden State Wealth Management LLC now owns 579 shares of the company’s stock valued at $35,000 after acquiring an additional 388 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in shares of Centene during the first quarter valued at approximately $73,000. Trust Co. of Toledo NA OH purchased a new position in shares of Centene during the second quarter valued at approximately $77,000. Finally, Geneos Wealth Management Inc. boosted its position in shares of Centene by 78.1% during the first quarter. Geneos Wealth Management Inc. now owns 1,462 shares of the company’s stock valued at $89,000 after buying an additional 641 shares during the last quarter. Institutional investors own 93.63% of the company’s stock.

Insiders Place Their Bets

In other news, Director Theodore R. Samuels II purchased 9,000 shares of the company’s stock in a transaction dated Monday, July 28th. The shares were purchased at an average price of $27.62 per share, with a total value of $248,580.00. Following the transaction, the director directly owned 32,000 shares of the company’s stock, valued at approximately $883,840. This represents a 39.13% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sarah London purchased 19,230 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were purchased at an average cost of $25.50 per share, for a total transaction of $490,365.00. Following the transaction, the chief executive officer directly owned 845,275 shares in the company, valued at approximately $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 corporate insiders.

Centene Stock Down 1.0%

CNC stock opened at $35.30 on Friday. The stock’s fifty day simple moving average is $32.16 and its two-hundred day simple moving average is $43.77. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.64. Centene Corporation has a 1-year low of $25.08 and a 1-year high of $70.11. The stock has a market cap of $17.34 billion, a P/E ratio of 8.74, a P/E/G ratio of 1.40 and a beta of 0.48.

Centene (NYSE:CNC) last posted 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 analysts’ expectations of $44.71 billion. During the same period in the prior year, the firm posted $2.42 EPS. The firm’s revenue for the quarter was up 22.4% on a year-over-year basis. Centene has set its FY 2025 guidance at 1.750-1.750 EPS. Analysts expect that Centene Corporation will post 6.86 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CNC. UBS Group cut their target price on Centene from $45.00 to $31.00 and set a “neutral” rating on the stock in a research report on Monday, July 28th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Centene in a research report on Wednesday, October 8th. Oppenheimer cut their target price on Centene from $51.00 to $43.00 and set an “outperform” rating on the stock in a research report on Monday, July 28th. The Goldman Sachs Group began coverage on Centene in a research report on Tuesday. They set a “sell” rating and a $33.00 target price on the stock. Finally, Wall Street Zen cut Centene from a “buy” rating to a “hold” rating in a research report on Saturday, July 12th. Three equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus 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.