Centene (CNC)

• Market cap: $15.7B
• 1 day: 0.69%
• 5 days: -10.98%
• 1 month: 10.45%
• 3 months: -41.69%
• 6 months: -45.95%
• Year to date: -47.08%
• 1 year: -57.53%
• 5 years: -47%
• 10 years: 0.25%
• 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 2025 Q2 regulatory disclosures by fund managers ($100M+ AUM)

15% more repeat investments, than reductions

Existing positions increased: 342 | Existing positions reduced: 298

3.53% more ownership

Funds ownership: 92.56% [Q1] → 96.09% (+3.53%) [Q2]

3% less funds holding

Funds holding: 886 [Q1] → 857 (-29) [Q2]

7% less capital invested

Capital invested by funds: $27.9B [Q1] → $25.9B (-$2.01B) [Q2]

11% less first-time investments, than exits

New positions opened: 111 | Existing positions closed: 125

42% less funds holding in top 10

Funds holding in top 10: 12 [Q1] → 7 (-5) [Q2]

47% less call options, than puts

Call options by funds: $130M | Put options by funds: $247M

Research analyst outlook

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

• Low target: $28
• Avg. target: $34
• High target: $43

13 analyst ratings

• positive: 3 23%
• neutral: 9 69%
• negative: 1 8%

Truist Securities Ryan MacDonald	$39	Buy Maintained	12 Sep 2025
Barclays Andrew Mok	$35	Equal-Weight Maintained	12 Sep 2025
Bernstein Lance Wilkes	$36	Outperform Maintained	5 Sep 2025
Cantor Fitzgerald Sarah James	$38	Neutral Reiterated	26 Aug 2025
Morgan Stanley Ricky Goldwasser	$28	Equal-Weight Maintained	4 Aug 2025