Centene (CNC)

• Market cap: $30B
• 1 day: 2.71%
• 5 days: 2.56%
• 1 month: 6.40%
• 3 months: -0.61%
• 6 months: -17.86%
• Year to date: 0.05%
• 1 year: -21.94%
• 5 years: 3.84%
• 10 years: 77.54%
• 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]

4.62% more ownership

Funds ownership: 90.4% [Q3] → 95.02% (+4.62%) [Q4]

6% more first-time investments, than exits

New positions opened: 131 | Existing positions closed: 124

2% less funds holding

Funds holding: 865 [Q3] → 852 (-13) [Q4]

19% less capital invested

Capital invested by funds: $35.7B [Q3] → $29.1B (-$6.68B) [Q4]

22% less repeat investments, than reductions

Existing positions increased: 274 | Existing positions reduced: 352

41% less call options, than puts

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

Research analyst outlook

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

• Low target: $72 19% upside
• Avg. target: $72 19% upside
• High target: $72 19% upside

1 analyst rating

• positive: 1 100%
• neutral: 0 0%
• negative: 0 0%

Wells Fargo Stephen Baxter 33% 1-year accuracy 13 / 39 met price target

19% upside $72

Overweight Maintained

14 Feb 2025