Pictet Asset Management Holding SA lowered its position in shares of Centene Corporation (NYSE:CNC – Free Report) by 13.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 474,878 shares of the company’s stock after selling 74,449 shares during the period. Pictet Asset Management Holding SA owned 0.10% of Centene worth $29,504,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of CNC. Frank Rimerman Advisors LLC grew its position in Centene by 3.7% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 4,521 shares of the company’s stock worth $281,000 after purchasing an additional 163 shares during the last quarter. Journey Retirement Planning & Investment Management LLC raised its holdings in shares of Centene by 3.9% during the third quarter. Journey Retirement Planning & Investment Management LLC now owns 4,652 shares of the company’s stock valued at $289,000 after buying an additional 175 shares during the last quarter. 180 Wealth Advisors LLC boosted its position in shares of Centene by 3.1% during the first quarter. 180 Wealth Advisors LLC now owns 6,683 shares of the company’s stock worth $219,000 after buying an additional 199 shares during the period. Grove Bank & Trust grew its holdings in Centene by 2.0% in the 3rd quarter. Grove Bank & Trust now owns 11,294 shares of the company’s stock worth $702,000 after buying an additional 220 shares in the last quarter. Finally, GoalVest Advisory LLC grew its holdings in Centene by 25.9% in the 3rd quarter. GoalVest Advisory LLC now owns 1,122 shares of the company’s stock worth $70,000 after buying an additional 231 shares in the last quarter. 93.63% of the stock is currently owned by institutional investors.
Centene Stock Performance
Shares of CNC opened at $70.17 on Wednesday. The company’s 50 day moving average price is $66.83 and its 200 day moving average price is $56.12. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.16 and a current ratio of 1.16. Centene Corporation has a 52 week low of $31.63 and a 52 week high of $78.08. The company has a market capitalization of $34.74 billion, a PE ratio of 24.03, a PEG ratio of 0.40 and a beta of 1.07.
Centene (NYSE:CNC – Get Free Report) last posted its quarterly earnings results on Tuesday, October 27th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.48. Centene had a net margin of 0.72% and a return on equity of 12.15%. The business had revenue of $50.65 billion for the quarter, compared to the consensus estimate of $47.12 billion. During the same period in the prior year, the business posted $0.50 earnings per share. Centene’s revenue for the quarter was up 1.9% compared to the same quarter last year. Research analysts expect that Centene Corporation will post 5.27 EPS for the current fiscal year.
Insider Buying and Selling at Centene
In other news, General Counsel Christopher Koster sold 56,500 shares of Centene stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $66.90, for a total transaction of $3,779,850.00. Following the completion of the sale, the general counsel directly owned 248,854 shares in the company, valued at $16,648,332.60. The trade was a 18.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.37% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Several brokerages have weighed in on CNC. Mizuho set a $72.00 target price on Centene in a research note on Wednesday, October 28th. UBS Group raised their target price on shares of Centene from $70.00 to $78.00 and gave the company a “neutral” rating in a research note on Wednesday, October 28th. Raymond James Financial set a $79.00 price objective on Centene in a report on Wednesday, October 28th. Barclays lifted their price target on shares of Centene from $80.00 to $82.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 28th. Finally, Weiss Ratings raised Centene from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 28th. Nine research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Centene presently has an average rating of “Hold” and an average target price of $73.80.
Get Our Latest Report on Centene
Centene Company Profile
Centene Corporation is a U.S. health care company that provides managed care and related services, primarily for people enrolled in government-sponsored health programs. Its offerings include Medicaid and Medicare plans, as well as health insurance sold through the Affordable Care Act marketplace. Centene serves members through health plans and a network of health care providers. Its businesses include Ambetter, which offers marketplace health plans, and Wellcare, which provides Medicare-related coverage.
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