Wealth Enhancement Advisory Services LLC Has $4.01 Million Stock Holdings in Centene Corporation $CNC

Wealth Enhancement Advisory Services LLC lowered its position in shares of Centene Corporation (NYSE:CNC) by 45.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 73,959 shares of the company’s stock after selling 62,219 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Centene were worth $4,014,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of CNC. Ameriflex Group Inc. bought a new stake in shares of Centene in the 4th quarter valued at $26,000. Quarry LP acquired a new stake in shares of Centene during the first quarter worth about $26,000. Golden State Wealth Management LLC lifted its holdings in shares of Centene by 203.1% during the 1st quarter. Golden State Wealth Management LLC now owns 579 shares of the company’s stock valued at $35,000 after purchasing an additional 388 shares in the last quarter. Bruce G. Allen Investments LLC grew its position in shares of Centene by 273.8% in the 1st quarter. Bruce G. Allen Investments LLC now owns 927 shares of the company’s stock valued at $56,000 after purchasing an additional 679 shares during the period. Finally, ORG Wealth Partners LLC bought a new stake in Centene during the 1st quarter worth approximately $73,000. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Price Performance

NYSE CNC opened at $34.37 on Friday. The company has a market capitalization of $16.88 billion, a PE ratio of 8.51, a price-to-earnings-growth ratio of 1.41 and a beta of 0.44. Centene Corporation has a 12-month low of $25.08 and a 12-month high of $75.35. The firm’s 50 day moving average is $28.99 and its 200-day moving average is $46.29. 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 earnings results on Friday, July 25th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.39). The firm 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 quarterly revenue was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.42 earnings per share. Centene has set its FY 2025 guidance at 1.750-1.750 EPS. Equities research analysts anticipate that Centene Corporation will post 6.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Theodore R. Samuels II bought 9,000 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were acquired at an average cost of $27.62 per share, for a total transaction of $248,580.00. Following the completion of the acquisition, 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 filing with the SEC, which can be accessed through the SEC website. Also, CEO Sarah London bought 19,230 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were purchased at an average price of $25.50 per share, for a total transaction of $490,365.00. Following the completion of the acquisition, 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 disclosure for this purchase can be found here. 0.36% of the stock is currently owned by insiders.

Analyst Ratings Changes

CNC has been the subject of several research analyst reports. Truist Financial upped their price target on shares of Centene from $35.00 to $39.00 and gave the company a “buy” rating in a report on Friday, September 12th. TD Cowen reiterated a “hold” rating and set a $33.00 target price (down previously from $73.00) on shares of Centene in a report on Monday, July 21st. Wall Street Zen lowered Centene from a “buy” rating to a “hold” rating in a report on Saturday, July 12th. Cantor Fitzgerald reiterated a “neutral” rating and set a $38.00 price objective on shares of Centene in a report on Tuesday, August 26th. Finally, Wells Fargo & Company cut Centene from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $72.00 to $30.00 in a research note on Wednesday, July 23rd. Three research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $38.33.

Centene 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.