Persistent Asset Partners Ltd decreased its holdings in shares of Centene Corporation (NYSE:CNC – Free Report) by 3.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 220,530 shares of the company’s stock after selling 9,014 shares during the period. Centene comprises about 4.1% of Persistent Asset Partners Ltd’s portfolio, making the stock its largest holding. Persistent Asset Partners Ltd’s holdings in Centene were worth $9,075,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the business. Kestra Advisory Services LLC increased its stake in Centene by 0.5% during the fourth quarter. Kestra Advisory Services LLC now owns 52,602 shares of the company’s stock valued at $2,165,000 after purchasing an additional 264 shares during the last quarter. Arkadios Wealth Advisors increased its stake in Centene by 4.2% during the fourth quarter. Arkadios Wealth Advisors now owns 7,465 shares of the company’s stock valued at $307,000 after purchasing an additional 300 shares during the last quarter. Affinity Investment Advisors LLC increased its stake in Centene by 3.0% during the fourth quarter. Affinity Investment Advisors LLC now owns 10,927 shares of the company’s stock valued at $450,000 after purchasing an additional 316 shares during the last quarter. Prime Capital Investment Advisors LLC increased its stake in Centene by 5.7% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 5,975 shares of the company’s stock valued at $246,000 after purchasing an additional 324 shares during the last quarter. Finally, Burney Co. increased its stake in Centene by 3.8% during the fourth quarter. Burney Co. now owns 9,053 shares of the company’s stock valued at $373,000 after purchasing an additional 331 shares during the last quarter. Institutional investors own 93.63% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on CNC shares. Bank of America upped their price target on shares of Centene from $72.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Oppenheimer upped their price target on shares of Centene from $58.00 to $67.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. The Goldman Sachs Group restated a “sell” rating and set a $40.00 price target on shares of Centene in a research report on Wednesday, April 29th. Robert W. Baird upped their price target on shares of Centene from $36.00 to $37.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 15th. Finally, Morgan Stanley upped their price target on shares of Centene from $50.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Centene currently has a consensus rating of “Hold” and a consensus price target of $60.24.
Centene Stock Performance
CNC stock opened at $61.25 on Wednesday. The company has a market capitalization of $30.25 billion, a P/E ratio of -4.66, a PEG ratio of 0.50 and a beta of 1.09. The company has a 50-day simple moving average of $52.52 and a 200 day simple moving average of $44.68. Centene Corporation has a fifty-two week low of $25.08 and a fifty-two week high of $66.55. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.76.
Centene (NYSE:CNC – Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $3.37 earnings per share for the quarter, topping the consensus estimate of $2.23 by $1.14. The business had revenue of $49.94 billion during the quarter, compared to the consensus estimate of $47.53 billion. Centene had a negative net margin of 3.25% and a positive return on equity of 5.57%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.90 earnings per share. Sell-side analysts predict that Centene Corporation will post 3.45 earnings per share for the current fiscal year.
About Centene
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.
Featured Stories
- Five stocks we like better than Centene
- Gravity Check: Houston, SpaceX Has a Valuation Problem
- Strategy’s Bitcoin Rally Has a Hidden Engine
- Okta’s AI Moment May Be Bigger Than Investors Realize
- 3 Rate-Ready Stocks for the New Fed Chair’s First Big Test
Receive News & Ratings for Centene Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Centene and related companies with MarketBeat.com's FREE daily email newsletter.
