Trek Financial LLC acquired a new position in shares of Centene Corporation (NYSE:CNC – Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 15,465 shares of the company’s stock, valued at approximately $961,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich grew its position in shares of Centene by 264.8% in the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 19,370 shares of the company’s stock valued at $1,205,000 after purchasing an additional 14,060 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Centene by 4.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,123,854 shares of the company’s stock worth $69,814,000 after purchasing an additional 43,798 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Centene during the 3rd quarter valued at approximately $11,375,000. ProShare Advisors LLC boosted its stake in Centene by 5.0% during the 3rd quarter. ProShare Advisors LLC now owns 102,343 shares of the company’s stock valued at $6,358,000 after purchasing an additional 4,865 shares during the period. Finally, Vise Technologies Inc. grew its holdings in Centene by 23.5% in the 3rd quarter. Vise Technologies Inc. now owns 26,348 shares of the company’s stock valued at $1,637,000 after buying an additional 5,020 shares during the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts have commented on the company. UBS Group lifted their price target on Centene from $70.00 to $78.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 28th. Cantor Fitzgerald increased their price objective on Centene from $75.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, October 28th. Mizuho set a $72.00 price objective on shares of Centene in a research note on Wednesday, October 28th. Wells Fargo & Company boosted their target price on shares of Centene from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Truist Financial reiterated a “buy” rating and set a $82.00 target price (up from $80.00) on shares of Centene in a research note on Monday. Nine equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $73.80.
Read Our Latest Stock Analysis on CNC
Insider Transactions at Centene
In other news, General Counsel Christopher Koster sold 56,500 shares of the stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $66.90, for a total value of $3,779,850.00. Following the completion of the transaction, the general counsel owned 248,854 shares in the company, valued at approximately $16,648,332.60. This represents a 18.50% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.37% of the stock is owned by company insiders.
Centene Price Performance
Shares of NYSE:CNC opened at $66.47 on Tuesday. Centene Corporation has a 1-year low of $31.63 and a 1-year high of $72.50. The firm has a market capitalization of $32.91 billion, a PE ratio of 12.72, a PEG ratio of 0.39 and a beta of 1.13. The business’s 50 day moving average is $66.12 and its 200-day moving average is $55.37. The company has a current ratio of 1.16, a quick ratio of 1.15 and a debt-to-equity ratio of 0.69.
Centene (NYSE:CNC – Get Free Report) last released its quarterly earnings data on Tuesday, October 27th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.48. The business had revenue of $50.65 billion for the quarter, compared to analysts’ expectations of $47.12 billion. Centene had a return on equity of 12.15% and a net margin of 0.72%. Centene’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.50 earnings per share. Sell-side analysts predict that Centene Corporation will post 5.24 earnings per share for the current year.
Centene Company Profile
Centene Corporation is a diversified healthcare enterprise that provides government-sponsored and commercial health insurance programs and related healthcare services. The company’s offerings are primarily focused on Medicaid, Medicare, and health insurance marketplace plans, with an emphasis on serving individuals and families who may have limited access to traditional healthcare coverage.
Centene operates Medicaid health plans through state-based contracts and offers Medicare Advantage, Medicare prescription drug, and Medicare Supplement products through its Wellcare brand.
Featured Stories
- Five stocks we like better than Centene
- AbbVie’s Humira Era Is Fading, But Its New Growth Engines Face Another Test
- GLP-1 Focus or Broader Peptide Exposure: Which ETF Has the Edge?
- Mortgage Rates Froze U.S. Housing, But These 3 Overseas Markets Still Pay Double Digits
- Big Tech Is Spending Billions on AI—These 5 Stocks Are Getting Paid
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.
