Rovida Advisors Inc. Purchases New Stake in Centene Corporation $CNC

Rovida Advisors Inc. acquired a new position in Centene Corporation (NYSE:CNC) in the 3rd quarter, Holdings Channel.com reports. The firm acquired 100,000 shares of the company’s stock, valued at approximately $3,568,000. Centene comprises approximately 3.1% of Rovida Advisors Inc.’s portfolio, making the stock its 10th biggest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. Addison Advisors LLC increased its holdings in shares of Centene by 455.6% in the 3rd quarter. Addison Advisors LLC now owns 739 shares of the company’s stock valued at $26,000 after purchasing an additional 606 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Centene during the 3rd quarter valued at approximately $27,000. WPG Advisers LLC boosted its position in Centene by 44.5% during the third quarter. WPG Advisers LLC now owns 915 shares of the company’s stock worth $33,000 after purchasing an additional 282 shares in the last quarter. Bogart Wealth LLC boosted its position in shares of Centene by 11,011.1% in the 3rd quarter. Bogart Wealth LLC now owns 1,000 shares of the company’s stock worth $36,000 after buying an additional 991 shares in the last quarter. Finally, Financial Network Wealth Advisors LLC grew its position in shares of Centene by 54.9% in the third quarter. Financial Network Wealth Advisors LLC now owns 1,100 shares of the company’s stock valued at $39,000 after purchasing an additional 390 shares during the last quarter. 93.63% of the stock is owned by institutional investors and hedge funds.

Centene Price Performance

CNC opened at $43.28 on Friday. The company has a market capitalization of $21.28 billion, a P/E ratio of -3.18, a PEG ratio of 1.01 and a beta of 0.48. The company has a 50-day moving average of $43.18 and a 200-day moving average of $37.96. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.10 and a current ratio of 1.10. Centene Corporation has a 1-year low of $25.08 and a 1-year high of $66.03.

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

Wall Street Analyst Weigh In

A number of research firms recently commented on CNC. JPMorgan Chase & Co. increased their price objective on Centene from $38.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, January 22nd. TD Cowen boosted their price objective on Centene from $34.00 to $38.00 and gave the stock a “hold” rating in a research note on Wednesday, February 11th. Mizuho set a $47.00 price objective on shares of Centene in a research note on Friday, January 9th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Centene from $32.00 to $39.00 and gave the company a “hold” rating in a research note on Tuesday, February 10th. Finally, Truist Financial lifted their price target on shares of Centene from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Three investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Centene has an average rating of “Hold” and a consensus target price of $42.44.

About Centene

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.