Personal CFO Solutions LLC grew its holdings in Centene Corporation (NYSE:CNC – Free Report) by 199.8% during the first quarter, Holdings Channel.com reports. The firm owned 16,296 shares of the company’s stock after buying an additional 10,861 shares during the period. Personal CFO Solutions LLC’s holdings in Centene were worth $534,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in CNC. AQR Capital Management LLC grew its position in Centene by 117.0% during the fourth quarter. AQR Capital Management LLC now owns 31,798,738 shares of the company’s stock valued at $1,308,518,000 after purchasing an additional 17,143,904 shares in the last quarter. Norges Bank acquired a new stake in shares of Centene during the 4th quarter valued at $332,044,000. Deerfield Management Company L.P. grew its holdings in shares of Centene by 184.0% during the 3rd quarter. Deerfield Management Company L.P. now owns 9,046,000 shares of the company’s stock valued at $322,761,000 after acquiring an additional 5,860,630 shares in the last quarter. 8 Knots Management LLC acquired a new position in shares of Centene in the third quarter worth $186,662,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Centene by 52.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,171,568 shares of the company’s stock worth $295,111,000 after acquiring an additional 2,472,341 shares in the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research analysts have commented on the company. Bank of America boosted their target price on Centene from $72.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Sanford C. Bernstein lifted their price target on Centene from $48.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Oppenheimer boosted their price target on Centene from $58.00 to $67.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Truist Financial raised their price objective on shares of Centene from $58.00 to $71.00 and gave the company a “buy” rating in a research report on Monday, June 1st. Finally, TD Cowen reiterated a “hold” rating and issued a $47.00 target price (up from $38.00) on shares of Centene in a research note on Monday, May 4th. Seven equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $62.50.
Centene Trading Up 0.6%
Shares of NYSE:CNC opened at $67.47 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.12 and a current ratio of 1.12. The stock’s 50-day moving average is $61.27 and its 200-day moving average is $47.77. The company has a market cap of $33.32 billion, a P/E ratio of -5.14, a P/E/G ratio of 0.53 and a beta of 1.07. Centene Corporation has a 52-week low of $25.08 and a 52-week high of $69.29.
Centene (NYSE:CNC – Get Free Report) last announced its 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. Centene had a negative net margin of 3.25% and a positive return on equity of 5.57%. The business had revenue of $49.94 billion for the quarter, compared to analyst estimates of $47.53 billion. During the same quarter in the previous year, the firm posted $2.90 earnings per share. Centene’s revenue was up 7.1% compared to the same quarter last year. Equities research analysts predict that Centene Corporation will post 3.44 earnings per share for the current 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.
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