Centene Corporation $CNC Holdings Increased by Long Focus Capital Management LLC

by · The Markets Daily

Long Focus Capital Management LLC increased its stake in Centene Corporation (NYSE:CNC – Free Report) by 705.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,299,000 shares of the company’s stock after acquiring an additional 2,013,560 shares during the period. Centene makes up approximately 2.7% of Long Focus Capital Management LLC’s investment portfolio, making the stock its 7th biggest position. Long Focus Capital Management LLC owned 0.47% of Centene worth $82,028,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. WPG Advisers LLC boosted its holdings in shares of Centene by 44.5% in the 3rd quarter. WPG Advisers LLC now owns 915 shares of the company’s stock worth $33,000 after purchasing an additional 282 shares during the period. Versant Capital Management Inc raised its holdings in Centene by 11.6% during the 3rd quarter. Versant Capital Management Inc now owns 3,421 shares of the company’s stock valued at $122,000 after buying an additional 355 shares during the period. Snowden Capital Advisors LLC boosted its stake in Centene by 8.0% during the second quarter. Snowden Capital Advisors LLC now owns 5,073 shares of the company’s stock worth $275,000 after buying an additional 374 shares during the period. MAI Capital Management increased its position in Centene by 6.3% during the third quarter. MAI Capital Management now owns 6,545 shares of the company’s stock valued at $234,000 after acquiring an additional 388 shares during the last quarter. Finally, Financial Network Wealth Advisors LLC increased its position in Centene by 54.9% during the third quarter. Financial Network Wealth Advisors LLC now owns 1,100 shares of the company’s stock valued at $39,000 after acquiring an additional 390 shares during the last quarter. 93.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on CNC shares. Wells Fargo & Company set a $44.00 price target on shares of Centene and gave the stock an “equal weight” rating in a research note on Wednesday, February 18th. Cantor Fitzgerald reissued a “neutral” rating and issued a $41.00 price objective on shares of Centene in a research note on Monday, February 9th. Sanford C. Bernstein restated an “outperform” rating and set a $59.00 target price on shares of Centene in a research report on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft increased their price target on Centene from $32.00 to $39.00 and gave the stock a “hold” rating in a report on Tuesday, February 10th. Finally, TD Cowen boosted their price objective on Centene from $34.00 to $38.00 and gave the company a “hold” rating in a report on Wednesday, February 11th. Three investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $42.06.

View Our Latest Analysis on Centene

Centene Price Performance

Centene stock opened at $34.77 on Tuesday. The stock has a market cap of $17.10 billion, a price-to-earnings ratio of -2.55, a price-to-earnings-growth ratio of 0.76 and a beta of 0.48. The firm has a 50-day moving average of $42.61 and a two-hundred day moving average of $38.51. Centene Corporation has a 1 year low of $25.08 and a 1 year high of $66.03. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.10 and a quick ratio of 1.10.

Centene (NYSE:CNC – Get Free Report) last posted its quarterly earnings results on Friday, February 6th. The company reported ($1.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.03. The business had revenue of $49.73 billion for the quarter, compared to the consensus estimate of $48.41 billion. Centene had a positive return on equity of 4.25% and a negative net margin of 3.43%.The business’s revenue was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.80 EPS. Centene has set its FY 2026 guidance at 3.000-3.000 EPS. On average, research analysts forecast that Centene Corporation will post 6.86 earnings per share for the current year.

About Centene

(Free Report)

Centene Corporation (NYSE: CNC) is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children’s Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.

Centene’s offerings extend beyond traditional insurance to include a range of specialty and support services.

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