Sei Investments Co. lowered its position in Centene Corp (NYSE:CNC) by 13.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 207,236 shares of the company’s stock after selling 31,583 shares during the quarter. Sei Investments Co.’s holdings in Centene were worth $13,185,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of CNC. Public Employees Retirement Association of Colorado raised its stake in Centene by 57.9% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 111,085 shares of the company’s stock worth $6,600,000 after acquiring an additional 40,751 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Centene by 40.0% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,391 shares of the company’s stock valued at $142,000 after buying an additional 683 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of Centene by 80.1% during the first quarter. Oppenheimer & Co. Inc. now owns 120,301 shares of the company’s stock valued at $7,148,000 after purchasing an additional 53,502 shares in the last quarter. Mackay Shields LLC raised its holdings in shares of Centene by 207.2% during the first quarter. Mackay Shields LLC now owns 207,475 shares of the company’s stock valued at $12,326,000 after purchasing an additional 139,940 shares during the last quarter. Finally, First Allied Advisory Services Inc. boosted its stake in shares of Centene by 59.2% in the 1st quarter. First Allied Advisory Services Inc. now owns 5,939 shares of the company’s stock worth $353,000 after buying an additional 2,208 shares during the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.
Several equities analysts recently weighed in on the company. Jefferies Financial Group lowered their target price on Centene from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, July 29th. Oppenheimer began coverage on Centene in a research note on Friday, June 12th. They issued a “buy” rating and a $90.00 target price on the stock. Deutsche Bank upped their target price on Centene from $80.00 to $87.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. ValuEngine lowered Centene from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 2nd. Finally, SVB Leerink initiated coverage on shares of Centene in a report on Wednesday, July 1st. They issued an “outperform” rating and a $78.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $82.92.
CNC stock opened at $58.18 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.66. Centene Corp has a 52 week low of $41.62 and a 52 week high of $74.70. The company has a market cap of $33.71 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 0.85 and a beta of 0.61. The business has a fifty day simple moving average of $61.99 and a 200-day simple moving average of $62.78.
Centene (NYSE:CNC) last released its quarterly earnings data on Tuesday, July 28th. The company reported $2.40 EPS for the quarter, missing the consensus estimate of $2.43 by ($0.03). The company had revenue of $27.71 billion during the quarter, compared to analysts’ expectations of $27.48 billion. Centene had a net margin of 1.70% and a return on equity of 14.07%. The company’s revenue for the quarter was up 51.0% compared to the same quarter last year. During the same period last year, the business earned $1.34 earnings per share. As a group, analysts expect that Centene Corp will post 4.88 earnings per share for the current fiscal year.
Centene Company Profile
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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