Enlightenment Research LLC Makes New Investment in Centene Co. (NYSE:CNC)

Enlightenment Research LLC bought a new stake in Centene Co. (NYSE:CNC) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,600 shares of the company’s stock, valued at approximately $230,000.

Several other large investors have also modified their holdings of CNC. JJJ Advisors Inc. acquired a new position in Centene in the first quarter valued at approximately $25,000. GPS Wealth Strategies Group LLC acquired a new stake in Centene during the 1st quarter worth $26,000. Safeguard Investment Advisory Group LLC bought a new position in Centene during the fourth quarter worth about $27,000. Summit Wealth Group LLC acquired a new position in Centene in the first quarter valued at about $27,000. Finally, DB Wealth Management Group LLC acquired a new stake in shares of Centene during the fourth quarter worth about $28,000. Institutional investors own 89.77% of the company’s stock.

Several analysts have commented on CNC shares. Stephens upgraded shares of Centene from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $71.00 to $87.00 in a report on Tuesday, May 11th. Mizuho began coverage on shares of Centene in a report on Monday, March 15th. They set a “neutral” rating and a $65.00 price objective on the stock. Wells Fargo & Company assumed coverage on shares of Centene in a research note on Monday, May 24th. They issued an “overweight” rating and a $87.00 target price for the company. Zacks Investment Research raised Centene from a “sell” rating to a “hold” rating and set a $61.00 price target on the stock in a research note on Monday, February 22nd. Finally, BMO Capital Markets upped their price objective on Centene from $77.00 to $88.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 11th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $79.04.

In other news, Director John R. Roberts sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 7th. The stock was sold at an average price of $70.00, for a total value of $350,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark J. Brooks sold 15,000 shares of Centene stock in a transaction that occurred on Friday, May 7th. The stock was sold at an average price of $68.00, for a total value of $1,020,000.00. The disclosure for this sale can be found here. Insiders have sold 39,883 shares of company stock valued at $2,626,390 in the last quarter. 1.80% of the stock is currently owned by corporate insiders.

Shares of Centene stock opened at $71.02 on Friday. The company has a market cap of $41.39 billion, a PE ratio of 16.95, a P/E/G ratio of 1.19 and a beta of 0.47. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.63. Centene Co. has a 12-month low of $53.60 and a 12-month high of $74.52. The business’s 50 day moving average is $67.53.

Centene (NYSE:CNC) last announced its quarterly earnings results on Monday, April 26th. The company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.04. The firm had revenue of $29.96 billion during the quarter, compared to analysts’ expectations of $29.55 billion. Centene had a net margin of 2.14% and a return on equity of 13.09%. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.86 earnings per share. Analysts forecast that Centene Co. will post 5.21 earnings per share for the current fiscal year.

About Centene

Centene Corporation operates as a multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. Its 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 cover dually eligible individuals, as well as aged, blind, or disabled programs.

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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