Crossmark Global Holdings Inc. increased its stake in shares of Centene Corp (NYSE:CNC) by 23.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 53,062 shares of the company’s stock after acquiring an additional 10,061 shares during the period. Crossmark Global Holdings Inc.’s holdings in Centene were worth $3,336,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of CNC. Citizens Financial Group Inc RI lifted its position in shares of Centene by 71.6% during the 3rd quarter. Citizens Financial Group Inc RI now owns 628 shares of the company’s stock worth $27,000 after buying an additional 262 shares during the period. Savior LLC bought a new position in shares of Centene during the 4th quarter worth approximately $32,000. Shine Investment Advisory Services Inc. lifted its position in shares of Centene by 44.9% during the 4th quarter. Shine Investment Advisory Services Inc. now owns 549 shares of the company’s stock worth $35,000 after buying an additional 170 shares during the period. Valeo Financial Advisors LLC lifted its position in shares of Centene by 31.5% during the 4th quarter. Valeo Financial Advisors LLC now owns 639 shares of the company’s stock worth $40,000 after buying an additional 153 shares during the period. Finally, Lindbrook Capital LLC lifted its position in shares of Centene by 54.2% during the 4th quarter. Lindbrook Capital LLC now owns 677 shares of the company’s stock worth $43,000 after buying an additional 238 shares during the period. Institutional investors and hedge funds own 97.59% of the company’s stock.
Several equities analysts recently commented on the company. Goldman Sachs Group assumed coverage on Centene in a research report on Friday, February 7th. They set a “buy” rating and a $80.00 target price for the company. Zacks Investment Research downgraded Centene from a “hold” rating to a “sell” rating and set a $50.00 target price for the company. in a research report on Friday, October 18th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $80.00 price target on shares of Centene in a report on Monday, December 16th. JPMorgan Chase & Co. started coverage on Centene in a report on Wednesday, February 5th. They set an “overweight” rating and a $88.00 price target for the company. Finally, Citigroup raised their price target on Centene from $65.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $77.21.
CNC stock opened at $64.94 on Friday. The business has a fifty day moving average price of $64.01 and a 200 day moving average price of $54.29. Centene Corp has a fifty-two week low of $41.62 and a fifty-two week high of $68.64. The stock has a market capitalization of $26.87 billion, a price-to-earnings ratio of 20.68, a P/E/G ratio of 0.99 and a beta of 0.95. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.57 and a quick ratio of 1.01.
Centene (NYSE:CNC) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.73 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.73. Centene had a return on equity of 15.18% and a net margin of 1.77%. The firm had revenue of $18.86 billion during the quarter, compared to analysts’ expectations of $18.45 billion. During the same period last year, the firm posted $0.69 EPS. The business’s revenue was up 13.9% on a year-over-year basis. On average, equities analysts expect that Centene Corp will post 4.81 earnings per share for the current fiscal year.
Centene Corporation operates as a diversified and multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. The company's Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which covers dually eligible individuals, as well as aged, blind, or disabled programs.
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