Centene Corporation $CNC Shares Bought by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. raised its position in shares of Centene Corporation (NYSE:CNC) by 23.1% in the second quarter, Holdings Channel.com reports. The fund owned 1,111,582 shares of the company’s stock after acquiring an additional 208,908 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Centene were worth $60,337,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Quarry LP acquired a new position in shares of Centene during the first quarter valued at approximately $26,000. Golden State Wealth Management LLC raised 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 during the last quarter. Bruce G. Allen Investments LLC raised its holdings in shares of Centene by 273.8% during the first quarter. Bruce G. Allen Investments LLC now owns 927 shares of the company’s stock valued at $56,000 after acquiring an additional 679 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in shares of Centene during the first quarter valued at approximately $73,000. Finally, Geneos Wealth Management Inc. raised its holdings 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 acquiring an additional 641 shares during the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

Insider Buying and Selling at Centene

In other news, CEO Sarah London purchased 19,230 shares of the stock in a transaction dated Friday, August 8th. The stock was acquired at an average cost of $25.50 per share, for a total transaction of $490,365.00. Following the completion of the transaction, 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 purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Theodore R. Samuels II purchased 9,000 shares of the 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 completion of the transaction, 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 ownership of the stock. The disclosure for this purchase can be found here. 0.36% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Bank of America cut Centene from a “neutral” rating to an “underperform” rating and cut their price target for the company from $52.00 to $30.00 in a report on Wednesday, July 16th. Sanford C. Bernstein cut 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. Barclays increased their price target on Centene from $33.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, September 12th. Mizuho cut their price target on Centene from $71.00 to $40.00 and set a “neutral” rating for the company in a report on Friday, July 11th. Finally, Truist Financial increased their price target on Centene from $35.00 to $39.00 and gave the company a “buy” rating in a report on Friday, September 12th. Three equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $38.33.

Centene Price Performance

CNC stock opened at $36.84 on Friday. The business has a fifty day moving average of $29.77 and a two-hundred day moving average of $45.50. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.64. The stock has a market cap of $18.09 billion, a price-to-earnings ratio of 9.12, a price-to-earnings-growth ratio of 1.45 and a beta of 0.47. Centene Corporation has a 52-week low of $25.08 and a 52-week high of $73.50.

Centene (NYSE:CNC) last posted its earnings results on Friday, July 25th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.39). The business 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 revenue was up 22.4% compared to the same quarter last year. During the same period last year, the business earned $2.42 EPS. Centene has set its FY 2025 guidance at 1.750-1.750 EPS. As a group, research analysts anticipate that Centene Corporation will post 6.86 earnings per share for the current 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.