OTA Financial Group L.P. acquired a new stake in shares of Centene Corp (NYSE:CNC) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 11,462 shares of the company’s stock, valued at approximately $608,000.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Huntington National Bank raised its holdings in Centene by 110.7% in the first quarter. Huntington National Bank now owns 472 shares of the company’s stock worth $25,000 after purchasing an additional 248 shares in the last quarter. Toth Financial Advisory Corp raised its stake in Centene by 100.0% in the 1st quarter. Toth Financial Advisory Corp now owns 480 shares of the company’s stock valued at $25,000 after purchasing an additional 240 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Centene in the 1st quarter worth $27,000. Shamrock Asset Management LLC grew its holdings in shares of Centene by 100.0% during the 1st quarter. Shamrock Asset Management LLC now owns 522 shares of the company’s stock worth $28,000 after purchasing an additional 261 shares during the period. Finally, Lindbrook Capital LLC purchased a new position in shares of Centene during the 4th quarter worth $31,000. 90.68% of the stock is currently owned by institutional investors.
Several brokerages have recently weighed in on CNC. SunTrust Banks cut their target price on Centene to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, April 24th. ValuEngine downgraded Centene from a “hold” rating to a “sell” rating in a research report on Wednesday, March 27th. Cantor Fitzgerald reiterated a “buy” rating and issued a $83.00 target price on shares of Centene in a research note on Wednesday, February 27th. Cowen reaffirmed a “buy” rating and issued a $77.00 target price on shares of Centene in a research report on Sunday, March 31st. Finally, Morgan Stanley reduced their target price on Centene from $83.00 to $75.00 and set an “overweight” rating on the stock in a report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $75.69.
CNC stock opened at $53.55 on Monday. The stock has a market capitalization of $22.14 billion, a P/E ratio of 15.13, a PEG ratio of 0.91 and a beta of 0.99. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. Centene Corp has a 1-year low of $45.44 and a 1-year high of $74.49.
Centene (NYSE:CNC) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.07. Centene had a return on equity of 14.60% and a net margin of 1.66%. The business had revenue of $18.44 billion for the quarter, compared to analyst estimates of $17.44 billion. During the same quarter in the prior year, the firm posted $2.17 EPS. The business’s quarterly revenue was up 39.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Centene Corp will post 4.37 EPS 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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