Tobam Has $4.33 Million Stock Position in Centene Corporation $CNC

Tobam grew its holdings in Centene Corporation (NYSE:CNC) by 236.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 121,376 shares of the company’s stock after acquiring an additional 85,280 shares during the quarter. Centene accounts for approximately 1.6% of Tobam’s investment portfolio, making the stock its 21st biggest position. Tobam’s holdings in Centene were worth $4,331,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CNC. Fifth Third Bancorp grew its position in shares of Centene by 18.4% during the 3rd quarter. Fifth Third Bancorp now owns 71,404 shares of the company’s stock worth $2,548,000 after purchasing an additional 11,097 shares in the last quarter. Pallas Capital Advisors LLC grew its position in Centene by 173.7% during the third quarter. Pallas Capital Advisors LLC now owns 64,690 shares of the company’s stock worth $2,308,000 after buying an additional 41,055 shares in the last quarter. Addison Advisors LLC increased its stake in Centene by 455.6% during the 3rd quarter. Addison Advisors LLC now owns 739 shares of the company’s stock worth $26,000 after acquiring an additional 606 shares during the period. State of New Jersey Common Pension Fund D lifted its position in shares of Centene by 9.7% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 183,393 shares of the company’s stock valued at $6,543,000 after acquiring an additional 16,199 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Centene by 43.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 79,796 shares of the company’s stock worth $2,847,000 after purchasing an additional 24,301 shares in the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Stock Performance

Shares of Centene stock opened at $40.53 on Monday. The company’s 50 day moving average price is $42.13 and its two-hundred day moving average price is $36.44. The firm has a market capitalization of $19.92 billion, a P/E ratio of -2.98, a P/E/G ratio of 0.90 and a beta of 0.48. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.10 and a quick ratio of 1.08. Centene Corporation has a fifty-two week low of $25.08 and a fifty-two week high of $66.03.

Centene (NYSE:CNC) last released its quarterly earnings data on Friday, February 6th. The company reported ($1.19) earnings per share 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 company had revenue of $49.73 billion for the quarter, compared to the consensus estimate of $48.41 billion. During the same quarter last year, the business posted $0.80 EPS. Centene’s revenue for the quarter was up 21.9% on a year-over-year basis. Centene has set its FY 2026 guidance at 3.000-3.000 EPS. On average, equities analysts forecast that Centene Corporation will post 6.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company set a $43.00 price objective on shares of Centene and gave the stock an “equal weight” rating in a research report on Wednesday, January 7th. Mizuho set a $47.00 price target on shares of Centene in a report on Friday, January 9th. Deutsche Bank Aktiengesellschaft lifted their price objective 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. Cantor Fitzgerald restated a “neutral” rating and set a $41.00 target price on shares of Centene in a research note on Monday, February 9th. Finally, Robert W. Baird lifted their price target on Centene from $28.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Three research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target 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.