Waddell & Associates LLC increased its position in shares of Centene Corporation (NYSE:CNC – Free Report) by 177.5% in the 4th quarter, Holdings Channel reports. The firm owned 32,237 shares of the company’s stock after purchasing an additional 20,621 shares during the period. Waddell & Associates LLC’s holdings in Centene were worth $1,327,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CNC. Addison Advisors LLC grew its holdings in shares of Centene by 455.6% during the third quarter. Addison Advisors LLC now owns 739 shares of the company’s stock worth $26,000 after buying an additional 606 shares in the last quarter. SBI Securities Co. Ltd. lifted its stake in shares of Centene by 118.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 749 shares of the company’s stock worth $31,000 after buying an additional 406 shares in the last quarter. Ameriflex Group Inc. boosted its position in Centene by 152.5% during the third quarter. Ameriflex Group Inc. now owns 1,010 shares of the company’s stock worth $36,000 after acquiring an additional 610 shares during the last quarter. GoalVest Advisory LLC purchased a new stake in Centene during the 4th quarter valued at about $37,000. Finally, Union Bancaire Privee UBP SA acquired a new stake in Centene in the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 93.63% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have recently weighed in on CNC shares. TD Cowen restated a “hold” rating and set a $47.00 target price (up from $38.00) on shares of Centene in a report on Monday, May 4th. Raymond James Financial set a $60.00 price objective on Centene in a research report on Wednesday, April 29th. Cantor Fitzgerald raised Centene from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $41.00 to $60.00 in a research note on Tuesday, April 28th. Wells Fargo & Company raised their target price on Centene from $44.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. increased their price target on shares of Centene from $52.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $60.24.
Centene Price Performance
Shares of CNC opened at $65.11 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.76. The firm’s fifty day simple moving average is $48.84 and its 200-day simple moving average is $43.55. The firm has a market capitalization of $32.15 billion, a price-to-earnings ratio of -4.96, a PEG ratio of 0.49 and a beta of 1.09. Centene Corporation has a twelve month low of $25.08 and a twelve month high of $65.80.
Centene (NYSE:CNC – Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $1.14. The company had revenue of $49.94 billion during the quarter, compared to the consensus estimate of $47.53 billion. Centene had a positive return on equity of 5.57% and a negative net margin of 3.25%.Centene’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.90 EPS. Equities analysts forecast that Centene Corporation will post 3.45 EPS for the current fiscal year.
Centene Profile
Centene Corporation (NYSE: CNC) is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children’s Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.
Centene’s offerings extend beyond traditional insurance to include a range of specialty and support services.
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