Centene (CNC)

• Market cap: $28.6B
• 1 day: -1.37%
• 5 days: 0.93%
• 1 month: -9.39%
• 3 months: -4.42%
• 6 months: -26.43%
• Year to date: -4.68%
• 1 year: -27.14%
• 5 years: -11.93%
• 10 years: 86.06%
• Sector: Financials
• Industry: Hospital & Medical Service Plans

About: Centene is a managed care organization focused on government-sponsored healthcare plans, including Medicaid, Medicare, and the individual exchanges. Centene served 24 million medical members as of September, mostly in Medicaid (about 60% of membership), the individual exchanges (about 20%), and Medicare Advantage (about 5%). The company also serves traditional Medicare users with its Medicare Part D pharmaceutical program and has a military contract.

Employees: 60,500

Fund manager confidence

Based on 2024 Q4 regulatory filings by fund managers ($100M+ AUM)

33% more funds holding in top 10

Funds holding in top 10: 9 [Q3] → 12 (+3) [Q4]

4.23% more ownership

Funds ownership: 90.56% [Q3] → 94.79% (+4.23%) [Q4]

0% more first-time investments, than exits

New positions opened: 124 | Existing positions closed: 124

5% less funds holding

Funds holding: 864 [Q3] → 825 (-39) [Q4]

19% less capital invested

Capital invested by funds: $35.8B [Q3] → $29B (-$6.81B) [Q4]

23% less repeat investments, than reductions

Existing positions increased: 265 | Existing positions reduced: 346

41% less call options, than puts

Call options by funds: $180M | Put options by funds: $305M

Research analyst outlook

9 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $52 10% downside
• Avg. target: $78 36% upside
• High target: $93 61% upside

9 analyst ratings

• positive: 7 78%
• neutral: 1 11%
• negative: 1 11%

Wells Fargo Stephen Baxter 24% 1-year accuracy 9 / 38 met price target	25% upside $72	Overweight Maintained	14 Feb 2025
JP Morgan John Stansel 0% 1-year accuracy 0 / 1 met price target	30% upside $75	Overweight Assumed	17 Dec 2024
Stephens & Co. Scott Fidel 46% 1-year accuracy 17 / 37 met price target	27% upside $73	Equal-Weight Maintained	13 Dec 2024
Truist Securities Ryan MacDonald 56% 1-year accuracy 38 / 68 met price target	46% upside $84	Buy Maintained	13 Dec 2024
Barclays Andrew Mok 38% 1-year accuracy 26 / 68 met price target	61% upside $93	Overweight Maintained	13 Dec 2024