Clearline Capital LP Raises Holdings in Centene Corporation $CNC

Clearline Capital LP raised its holdings in Centene Corporation (NYSE:CNC) by 118.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 526,703 shares of the company’s stock after purchasing an additional 285,607 shares during the quarter. Centene accounts for 0.9% of Clearline Capital LP’s holdings, making the stock its 20th largest holding. Clearline Capital LP’s holdings in Centene were worth $18,793,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Addison Advisors LLC increased its position in shares of Centene by 455.6% during the 3rd quarter. Addison Advisors LLC now owns 739 shares of the company’s stock worth $26,000 after purchasing an additional 606 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Centene in the third quarter valued at about $27,000. WPG Advisers LLC boosted its stake 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 buying an additional 282 shares during the period. Bogart Wealth LLC increased its position in shares of Centene by 11,011.1% during the third quarter. Bogart Wealth LLC now owns 1,000 shares of the company’s stock valued at $36,000 after acquiring an additional 991 shares during the last quarter. Finally, Ameriflex Group Inc. raised its stake in shares of Centene by 152.5% in the 3rd quarter. Ameriflex Group Inc. now owns 1,010 shares of the company’s stock valued at $36,000 after acquiring an additional 610 shares during the period. 93.63% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on CNC shares. TD Cowen upped their price objective on shares of Centene from $34.00 to $38.00 and gave the stock a “hold” rating in a report on Wednesday, February 11th. Mizuho set a $41.00 target price on Centene and gave the company a “neutral” rating in a research report on Tuesday. Truist Financial raised their price target on Centene from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Weiss Ratings reiterated a “sell (d)” rating on shares of Centene in a report on Wednesday, January 21st. Finally, JPMorgan Chase & Co. increased their target price on Centene from $38.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, January 22nd. Three research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $42.06.

Centene Stock Performance

NYSE:CNC opened at $34.47 on Friday. Centene Corporation has a 52 week low of $25.08 and a 52 week high of $66.03. The company has a fifty day simple moving average of $42.81 and a two-hundred day simple moving average of $38.39. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.87. The company has a market cap of $16.95 billion, a price-to-earnings ratio of -2.53, a price-to-earnings-growth ratio of 0.76 and a beta of 0.48.

Centene (NYSE:CNC) last announced its quarterly earnings data on Friday, February 6th. The company reported ($1.19) earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations 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. As a group, equities analysts anticipate that Centene Corporation will post 6.86 earnings per share for the current fiscal year.

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.