NorthCrest Asset Manangement LLC Sells 34,233 Shares of Centene Corporation $CNC

NorthCrest Asset Manangement LLC decreased its position in shares of Centene Corporation (NYSE:CNC) by 27.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 90,678 shares of the company’s stock after selling 34,233 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Centene were worth $3,484,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its position in shares of Centene by 5.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 6,658 shares of the company’s stock worth $361,000 after acquiring an additional 325 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of Centene by 11.6% in the 3rd quarter. Versant Capital Management Inc now owns 3,421 shares of the company’s stock valued at $122,000 after purchasing an additional 355 shares during the last quarter. Snowden Capital Advisors LLC raised its holdings in shares of Centene by 8.0% during the 2nd quarter. Snowden Capital Advisors LLC now owns 5,073 shares of the company’s stock worth $275,000 after buying an additional 374 shares in the last quarter. Financial Network Wealth Advisors LLC lifted its position in shares of Centene by 54.9% during the 3rd quarter. Financial Network Wealth Advisors LLC now owns 1,100 shares of the company’s stock worth $39,000 after buying an additional 390 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its position in Centene by 29.8% in the second quarter. Geneos Wealth Management Inc. now owns 1,897 shares of the company’s stock valued at $103,000 after acquiring an additional 435 shares during the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Stock Down 3.2%

Shares of NYSE:CNC opened at $45.75 on Tuesday. The business has a fifty day simple moving average of $40.39 and a 200 day simple moving average of $34.76. Centene Corporation has a 12-month low of $25.08 and a 12-month high of $66.81. The firm has a market cap of $22.49 billion, a P/E ratio of -4.23, a P/E/G ratio of 1.04 and a beta of 0.48. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.83.

Centene (NYSE:CNC) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $0.50 earnings per share (EPS) for the quarter, topping 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 company had revenue of $49.69 billion during the quarter, compared to the consensus estimate of $47.50 billion. During the same period last year, the company earned $1.62 earnings per share. The firm’s revenue was up 18.2% compared to the same quarter last year. Analysts predict that Centene Corporation will post 6.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CNC. Deutsche Bank Aktiengesellschaft increased their target price on shares of Centene from $24.00 to $32.00 in a report on Friday, October 31st. The Goldman Sachs Group restated a “sell” rating and issued a $38.00 target price (up previously from $33.00) on shares of Centene in a research report on Thursday, October 30th. Cantor Fitzgerald increased their price target on Centene from $38.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Mizuho set a $47.00 price objective on Centene in a research report on Friday, January 9th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Centene in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $40.38.

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.