CNC
LONGINSIDER SELLCENTENE CORP DEL
Research: Finviz ↗·Perplexity ↗
🗄 Viewing archived Q1 2026 data — frozen, no longer refreshed.
News Summary
NeutralCentene delivered strong H1 2026 operational performance with consecutive earnings beats, significant guidance raises (full-year adjusted EPS guidance nearly doubled from >$3.00 to >$4.80), and improved health benefits ratios across segments. However, the company faces material headwinds from OB3 regulatory implementation expected in 2027, Medicaid membership attrition, elevated behavioral health and drug costs, and Medicare Advantage margin pressures from STARS methodology changes.
Red flags
- •OB3 regulatory framework expected to drive Medicaid membership attrition and margin compression in 2027; management explicitly preparing for further membership declines
- •Elevated medical cost inflation in behavioral health and high-cost drug categories creating margin pressure despite revenue growth
- •Medicare Advantage segment facing structural headwinds from STARS program methodology changes and artificial cut point increases, though company targets breakeven in 2027
- •Consolidated HBR deterioration Q1-to-Q2 (87.3% to 89.6%) despite operational improvements suggests underlying cost pressures
Funds Buying (3)
| Fund | Manager | Shares Held | ∆ Shares | Position Value | % of Fund | QoQ | Status |
|---|---|---|---|---|---|---|---|
| Glenview Capital | Larry Robbins | 3.2M | +1.4M | $105M | 2.8% | +73% | Existing |
| Greenlight Capital | David Einhorn | 2.7M | +92K | $89M | 2.8% | +4% | Existing |
| Point72 | Steve Cohen | 2.4M | +2.4M | $80M | 0.1% | — | NEW |
Shares Held and Position Value reflect total quarter-end holdings. ∆ Shares is the change from the prior quarter. % of Fund is the position's share of the fund's reported equity portfolio — it drives the size weighting in the conviction score.
Portfolio Context
Where CNC ranks in each buying fund's book, and the positions immediately around it. What a holding sits next to often says more about the thesis than the position size does.
position #11 of this fund's book
- 8THERMO FISHER SCIENTIFIC INC$123M
- 9VIATRIS INC$123M
- 10DXC TECHNOLOGY CO$112M
- 11CENTENE CORP DEL$105M
- 12UBER TECHNOLOGIES INC$105M
- 13ZOOMINFO TECHNOLOGIES INC$95M
- 14BLOCK INC$82M
position #12 of this fund's book
- 9DHT HOLDINGS INC$96M
- 10PENN ENTERTAINMENT INC$91M
- 11GRAPHIC PACKAGING HLDG CO$90M
- 12CENTENE CORP DEL$89M
- 13TEVA PHARMACEUTICAL INDS LTD$88M
- 14CAPRI HOLDINGS LIMITED$87M
- 15TD SYNNEX CORPORATION$81M
Values are quarter-end position sizes. Shown only for funds where CNC ranks inside their 40 largest equity positions — below that, neighbouring names carry no signal. Adjacency is an inference about a fund's reasoning, not a disclosure of it.
Insider Activity
| Name | Title | Type | Shares | Price | Value | Filed | Src |
|---|---|---|---|---|---|---|---|
| Burdick Kenneth A | — | SELL | 80K | $64.55 | $5.16M | 2026-06-10 | ↗ |
Beneficial Ownership (13D/13G)
| Filer | Form | Shares | % of Class | Filed | Src |
|---|---|---|---|---|---|
| AQR Capital Management, LLC | SC 13G | 31.8M | 6.5% | 2026-02-13 | ↗ |
SC 13D = active intent to influence control (10-day filing deadline after crossing 5%). SC 13G = passive accumulation, no intent to influence control.