True Wealth Design LLC Cuts Holdings in Centene Corporation $CNC

True Wealth Design LLC decreased its position in Centene Corporation (NYSE:CNC) by 77.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 668 shares of the company’s stock after selling 2,344 shares during the period. True Wealth Design LLC’s holdings in Centene were worth $36,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CNC. AQR Capital Management LLC increased its position in shares of Centene by 42.7% during the first quarter. AQR Capital Management LLC now owns 11,049,494 shares of the company’s stock valued at $669,820,000 after acquiring an additional 3,306,796 shares during the last quarter. Nuveen LLC bought a new stake in shares of Centene during the 1st quarter worth $146,557,000. Boston Partners grew its position in Centene by 155.3% during the first quarter. Boston Partners now owns 3,901,603 shares of the company’s stock valued at $236,802,000 after buying an additional 2,373,280 shares during the period. 8 Knots Management LLC boosted its holdings in Centene by 52.5% in the 1st quarter. 8 Knots Management LLC now owns 3,050,904 shares of the company’s stock worth $185,220,000 after buying an additional 1,050,648 shares during the period. Finally, Focused Investors LLC raised its holdings in Centene by 588.1% during the 1st quarter. Focused Investors LLC now owns 1,042,400 shares of the company’s stock valued at $63,284,000 after acquiring an additional 890,900 shares during the period. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CNC. Deutsche Bank Aktiengesellschaft raised their price target on Centene from $24.00 to $32.00 in a report on Friday, October 31st. Cowen reaffirmed a “hold” rating on shares of Centene in a report on Friday, October 31st. Wells Fargo & Company set a $41.00 price target on Centene and gave the company an “equal weight” rating in a research report on Tuesday, October 7th. JPMorgan Chase & Co. raised their price objective on shares of Centene from $30.00 to $38.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Finally, Wall Street Zen lowered shares of Centene from a “buy” rating to a “hold” rating in a report on Saturday, July 12th. Three equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $39.82.

Centene Stock Performance

Centene stock opened at $37.49 on Friday. Centene Corporation has a fifty-two week low of $25.08 and a fifty-two week high of $66.81. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.10 and a current ratio of 1.08. The stock has a market cap of $18.43 billion, a P/E ratio of -3.46, a price-to-earnings-growth ratio of 1.24 and a beta of 0.49. The firm’s fifty day moving average price is $34.33 and its 200-day moving average price is $40.75.

Centene (NYSE:CNC) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.71. Centene had a positive return on equity of 7.82% and a negative net margin of 2.85%.The business had revenue of $49.69 billion for the quarter, compared to the consensus estimate of $47.50 billion. During the same quarter last year, the business posted $1.62 earnings per share. The company’s revenue for the quarter was up 18.2% on a year-over-year basis. On average, equities research analysts expect that Centene Corporation will post 6.86 earnings per share for the current fiscal year.

About Centene

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children’s health insurance program, foster care, medicare-medicaid plans, long-term services and support.