Centene (CNC)

• Market cap: $30.1B
• 1 day: -0.22%
• 5 days: 0.95%
• 1 month: 0.81%
• 3 months: -21.20%
• 6 months: -11.71%
• Year to date: -22.45%
• 1 year: -17.49%
• 5 years: -3.79%
• 10 years: 123.56%
• 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: 67,700

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

13% more funds holding in top 10

Funds holding in top 10: 8 [Q2] → 9 (+1) [Q3]

1% more capital invested

Capital invested by funds: $35B [Q2] → $35.4B (+$416M) [Q3]

2% less funds holding

Funds holding: 879 [Q2] → 861 (-18) [Q3]

9.29% less ownership

Funds ownership: 98.8% [Q2] → 89.51% (-9.29%) [Q3]

14% less repeat investments, than reductions

Existing positions increased: 299 | Existing positions reduced: 348

17% less first-time investments, than exits

New positions opened: 89 | Existing positions closed: 107

29% less call options, than puts

Call options by funds: $223M | Put options by funds: $314M

Research analyst outlook

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

• Low target: $52 13% downside
• Avg. target: $80 34% upside
• High target: $93 56% upside

11 analyst ratings

• positive: 8 73%
• neutral: 2 18%
• negative: 1 9%

JP Morgan John Stansel 100% 1-year accuracy 1 / 1 met price target	26% upside $75	Overweight Assumed	17 Dec 2024
Stephens & Co. Scott Fidel 51% 1-year accuracy 22 / 43 met price target	23% upside $73	Equal-Weight Maintained	13 Dec 2024
Truist Securities Ryan MacDonald 56% 1-year accuracy 38 / 68 met price target	41% upside $84	Buy Maintained	13 Dec 2024
Barclays Andrew Mok 29% 1-year accuracy 18 / 62 met price target	56% upside $93	Overweight Maintained	13 Dec 2024
Oppenheimer Michael Wiederhorn 30% 1-year accuracy 12 / 40 met price target	43% upside $85	Outperform Maintained	13 Dec 2024