Glenmede Trust Co. NA Sells 146,613 Shares of Centene Corporation $CNC

Glenmede Trust Co. NA lowered its position in shares of Centene Corporation (NYSE:CNC) by 90.6% during the first quarter, HoldingsChannel reports. The fund owned 15,246 shares of the company’s stock after selling 146,613 shares during the quarter. Glenmede Trust Co. NA’s holdings in Centene were worth $499,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of CNC. Vanguard Group Inc. boosted its position in Centene by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 56,978,753 shares of the company’s stock worth $2,344,676,000 after buying an additional 190,334 shares during the period. AQR Capital Management LLC raised its stake in shares of Centene by 117.0% during the fourth quarter. AQR Capital Management LLC now owns 31,798,738 shares of the company’s stock valued at $1,308,518,000 after acquiring an additional 17,143,904 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Centene by 5.5% during the fourth quarter. Geode Capital Management LLC now owns 13,271,492 shares of the company’s stock worth $554,338,000 after purchasing an additional 697,277 shares during the period. Deerfield Management Company L.P. increased its holdings in Centene by 184.0% in the third quarter. Deerfield Management Company L.P. now owns 9,046,000 shares of the company’s stock valued at $322,761,000 after purchasing an additional 5,860,630 shares during the period. Finally, Morgan Stanley raised its position in Centene by 7.2% during the 4th quarter. Morgan Stanley now owns 9,002,570 shares of the company’s stock worth $370,456,000 after purchasing an additional 603,585 shares during the last quarter. 93.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CNC shares. Stifel Nicolaus set a $79.00 price objective on Centene in a research report on Monday, August 3rd. Truist Financial increased their target price on shares of Centene from $71.00 to $78.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Wall Street Zen upgraded shares of Centene from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 18th. UBS Group reaffirmed a “neutral” rating and issued a $61.00 price objective (up from $55.00) on shares of Centene in a research note on Friday, May 22nd. Finally, Zacks Research raised shares of Centene from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $68.58.

Centene Price Performance

Shares of CNC opened at $65.69 on Friday. The firm has a market cap of $32.45 billion, a PE ratio of -6.29, a price-to-earnings-growth ratio of 0.35 and a beta of 1.08. Centene Corporation has a 52-week low of $25.18 and a 52-week high of $69.36. The business’s 50 day moving average price is $64.48 and its two-hundred day moving average price is $50.92. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.15 and a current ratio of 1.15.

Centene (NYSE:CNC) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $2.51 EPS for the quarter, topping the consensus estimate of $1.09 by $1.42. Centene had a negative net margin of 2.51% and a positive return on equity of 12.12%. The company had revenue of $53.58 billion during the quarter, compared to the consensus estimate of $47.64 billion. During the same quarter last year, the firm posted ($0.16) EPS. The company’s quarterly revenue was up 9.9% on a year-over-year basis. Centene has set its FY 2026 guidance at 4.800- EPS. On average, equities analysts anticipate that Centene Corporation will post 4.89 EPS for the current year.

Centene 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.