Centene (CNC)

• Market cap: $29.7B
• 1 day: 1.00%
• 5 days: -3.26%
• 1 month: -1.42%
• 3 months: -7.38%
• 6 months: -3.12%
• Year to date: -1.09%
• 1 year: -18.08%
• 5 years: -10.11%
• 10 years: 93.06%
• Sector: Healthcare
• Industry: Healthcare Plans

About: Centene is a managed care organization that focuses on government-sponsored healthcare plans, including Medicaid, Medicare, and the individual exchanges. Centene served 22 million medical members as of December 2024, mostly in Medicaid (about 60% of membership), the individual exchanges (about 20%), and Medicare (about 5%). The company also has a military contract and provides Medicare Part D pharmaceutical plans.

Employees: 60,500

Fund manager confidence

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

33% more funds holding in top 10

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

5.62% more ownership

Funds ownership: 89.34% [Q3] → 94.96% (+5.62%) [Q4]

9% more first-time investments, than exits

New positions opened: 134 | Existing positions closed: 123

1% less funds holding

Funds holding: 865 [Q3] → 857 (-8) [Q4]

18% less capital invested

Capital invested by funds: $35.3B [Q3] → $29.1B (-$6.28B) [Q4]

22% less repeat investments, than reductions

Existing positions increased: 276 | Existing positions reduced: 352

41% less call options, than puts

Call options by funds: $181M | Put options by funds: $305M

Research analyst outlook

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

• Low target: $61 2% upside
• Avg. target: $72 19% upside
• High target: $84 40% upside

4 analyst ratings

• positive: 2 50%
• neutral: 2 50%
• negative: 0 0%

Jefferies David Windley 20% 1-year accuracy 1 / 5 met price target	2% upside $61	Hold Maintained	29 Apr 2025
Barclays Andrew Mok 35% 1-year accuracy 21 / 60 met price target	40% upside $84	Overweight Maintained	28 Apr 2025
Baird Michael Ha 43% 1-year accuracy 10 / 23 met price target	15% upside $69	Neutral Maintained	15 Apr 2025
Wells Fargo Stephen Baxter 37% 1-year accuracy 11 / 30 met price target	20% upside $72	Overweight Maintained	14 Feb 2025