Scharf Investments LLC Has $87.37 Million Position in Centene Corporation $CNC

Scharf Investments LLC grew its stake in shares of Centene Corporation (NYSE:CNC) by 1.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 2,123,245 shares of the company’s stock after acquiring an additional 20,046 shares during the quarter. Centene comprises about 2.3% of Scharf Investments LLC’s portfolio, making the stock its 22nd biggest holding. Scharf Investments LLC owned approximately 0.43% of Centene worth $87,372,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Addison Advisors LLC lifted its position in Centene by 455.6% during the third quarter. Addison Advisors LLC now owns 739 shares of the company’s stock worth $26,000 after purchasing an additional 606 shares during the period. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Centene in the 3rd quarter valued at approximately $27,000. GoalVest Advisory LLC bought a new stake in shares of Centene during the 4th quarter worth approximately $37,000. Union Bancaire Privee UBP SA acquired a new stake in shares of Centene during the 4th quarter worth approximately $37,000. Finally, WPG Advisers LLC raised its position in Centene by 44.5% during the third quarter. WPG Advisers LLC now owns 915 shares of the company’s stock valued at $33,000 after purchasing an additional 282 shares in the last quarter. Institutional investors own 93.63% of the company’s stock.

Centene Stock Performance

NYSE:CNC opened at $32.68 on Wednesday. The stock’s 50-day moving average is $39.85 and its 200-day moving average is $38.76. The stock has a market cap of $16.07 billion, a P/E ratio of -2.40, a price-to-earnings-growth ratio of 0.70 and a beta of 0.48. Centene Corporation has a 1-year low of $25.08 and a 1-year high of $66.03. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.87.

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

Analyst Ratings Changes

CNC has been the topic of several recent analyst reports. Truist Financial lifted their price target on Centene from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $41.00 target price on shares of Centene in a research report on Monday, February 9th. Jefferies Financial Group dropped their target price on shares of Centene from $43.00 to $37.00 and set a “hold” rating for the company in a report on Friday, February 13th. Weiss Ratings reiterated a “sell (d)” rating on shares of Centene in a research report on Wednesday, January 21st. Finally, Wells Fargo & Company set a $44.00 price objective on shares of Centene and gave the company an “equal weight” rating in a research note on Wednesday, February 18th. Three research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $41.81.

Centene Company Profile

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.