Centene (NYSE:CNC) Stock Price Down 10.3% – Here’s Why

Centene Corporation (NYSE:CNC) shares traded down 10.3% during trading on Tuesday . The stock traded as low as $37.62 and last traded at $38.8740. 3,898,219 shares changed hands during mid-day trading, a decline of 36% from the average session volume of 6,070,513 shares. The stock had previously closed at $43.32.

Analyst Upgrades and Downgrades

CNC has been the subject of a number of recent analyst reports. Wells Fargo & Company set a $44.00 target price on Centene and gave the company an “equal weight” rating in a report on Wednesday, February 18th. Robert W. Baird increased their price target on shares of Centene from $28.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday, December 11th. Jefferies Financial Group decreased their price objective on shares of Centene from $43.00 to $37.00 and set a “hold” rating on the stock in a report on Friday, February 13th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Centene from $32.00 to $39.00 and gave the company a “hold” rating in a report on Tuesday, February 10th. Finally, Argus raised Centene to a “hold” rating in a research note on Monday, February 9th. 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $42.44.

Centene Stock Performance

The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.87. The stock’s 50 day moving average is $43.30 and its 200 day moving average is $38.28. The stock has a market capitalization of $18.64 billion, a price-to-earnings ratio of -2.78, a PEG ratio of 0.97 and a beta of 0.48.

Centene (NYSE:CNC) last announced its 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 company had revenue of $49.73 billion during the quarter, compared to analysts’ expectations of $48.41 billion. Centene had a negative net margin of 3.43% and a positive return on equity of 4.25%. The firm’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.80 earnings per share. Centene has set its FY 2026 guidance at 3.000-3.000 EPS. On average, analysts predict that Centene Corporation will post 6.86 earnings per share for the current year.

Hedge Funds Weigh In On Centene

Several hedge funds have recently bought and sold shares of CNC. DV Equities LLC purchased a new stake in shares of Centene in the fourth quarter valued at $26,000. IFC & Insurance Marketing Inc. purchased a new stake in Centene during the 4th quarter worth about $28,000. Addison Advisors LLC raised its stake in 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 during the last quarter. SBI Securities Co. Ltd. lifted its holdings in Centene by 118.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 749 shares of the company’s stock valued at $31,000 after purchasing an additional 406 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Centene during the 3rd quarter worth about $27,000. Hedge funds and other institutional investors own 93.63% of the company’s stock.

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.