Regentatlantic Capital LLC reduced its holdings in shares of Centene Co. (NYSE:CNC) by 5.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,965 shares of the company’s stock after selling 1,704 shares during the period. Regentatlantic Capital LLC’s holdings in Centene were worth $2,039,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Forsta AP Fonden grew its position in Centene by 42.6% during the first quarter. Forsta AP Fonden now owns 135,800 shares of the company’s stock valued at $8,679,000 after acquiring an additional 40,600 shares during the last quarter. Mutual of America Capital Management LLC grew its position in Centene by 2.2% during the first quarter. Mutual of America Capital Management LLC now owns 93,226 shares of the company’s stock valued at $5,958,000 after acquiring an additional 1,977 shares during the last quarter. Edmond DE Rothschild Holding S.A. grew its position in Centene by 38.1% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 628,260 shares of the company’s stock valued at $40,152,000 after acquiring an additional 173,170 shares during the last quarter. Calamos Advisors LLC grew its holdings in shares of Centene by 29.6% in the second quarter. Calamos Advisors LLC now owns 125,098 shares of the company’s stock worth $9,123,000 after purchasing an additional 28,581 shares during the last quarter. Finally, Vancity Investment Management Ltd grew its holdings in shares of Centene by 31.0% in the second quarter. Vancity Investment Management Ltd now owns 156,243 shares of the company’s stock worth $11,395,000 after purchasing an additional 36,995 shares during the last quarter. Institutional investors and hedge funds own 91.75% of the company’s stock.
Several brokerages have recently issued reports on CNC. Morgan Stanley cut their target price on shares of Centene from $88.00 to $79.00 and set an “overweight” rating on the stock in a report on Tuesday, September 14th. Roth Capital assumed coverage on Centene in a research note on Tuesday, August 17th. They issued a “buy” rating for the company. Truist Securities raised their price target on Centene from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, June 17th. Seaport Global Securities assumed coverage on Centene in a research note on Friday, July 9th. They issued a “buy” rating and a $90.00 price target for the company. Finally, Oppenheimer reaffirmed a “buy” rating and issued a $90.00 price target on shares of Centene in a research note on Thursday, June 17th. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $81.78.
CNC opened at $62.82 on Friday. The stock has a 50-day moving average price of $65.55 and a 200-day moving average price of $67.34. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market cap of $36.63 billion, a PE ratio of 51.49, a P/E/G ratio of 1.01 and a beta of 0.46. Centene Co. has a 1 year low of $54.00 and a 1 year high of $75.59.
Centene (NYSE:CNC) last posted its quarterly earnings results on Monday, July 26th. The company reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.41 by ($0.16). The company had revenue of $31.03 billion during the quarter, compared to analysts’ expectations of $30.11 billion. Centene had a return on equity of 10.39% and a net margin of 0.61%. Centene’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.40 EPS. As a group, sell-side analysts anticipate that Centene Co. will post 5.14 EPS for the current year.
Centene Corp. operates as a healthcare enterprise, which engages in the provision of programs and services to government sponsored healthcare programs. It operates through the following segments: Managed Care and Specialty Services. The Medicaid Managed Care segment provides health plan coverage to individuals through government subsidized programs through Medicaid.
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