Sanctuary Advisors LLC decreased its stake in Centene Corporation (NYSE:CNC – Free Report) by 11.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,086 shares of the company’s stock after selling 9,608 shares during the period. Sanctuary Advisors LLC’s holdings in Centene were worth $2,327,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. AQR Capital Management LLC increased its holdings in shares of Centene by 117.0% during the fourth quarter. AQR Capital Management LLC now owns 31,798,738 shares of the company’s stock worth $1,308,518,000 after buying an additional 17,143,904 shares in the last quarter. Norges Bank bought a new stake in Centene during the 4th quarter worth $332,044,000. Deerfield Management Company L.P. grew its position in Centene by 184.0% during the 3rd quarter. Deerfield Management Company L.P. now owns 9,046,000 shares of the company’s stock worth $322,761,000 after acquiring an additional 5,860,630 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Centene by 52.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,171,568 shares of the company’s stock worth $295,111,000 after purchasing an additional 2,472,341 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in Centene by 535.6% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 2,750,326 shares of the company’s stock valued at $113,176,000 after purchasing an additional 2,317,618 shares during the last quarter. Institutional investors own 93.63% of the company’s stock.
Centene Stock Performance
Shares of CNC stock opened at $67.58 on Wednesday. The stock has a market capitalization of $33.37 billion, a PE ratio of -5.14, a PEG ratio of 0.52 and a beta of 1.07. The business’s 50 day simple moving average is $63.11 and its 200 day simple moving average is $49.26. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.12 and a quick ratio of 1.12. Centene Corporation has a one year low of $25.08 and a one year high of $69.36.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on CNC shares. Truist Financial boosted their price target on Centene from $71.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Centene from a “hold” rating to a “buy” rating and lifted their target price for the stock from $53.00 to $80.00 in a research report on Wednesday, May 20th. The Goldman Sachs Group restated a “sell” rating and issued a $40.00 price target on shares of Centene in a research report on Wednesday, April 29th. JPMorgan Chase & Co. raised their price target on shares of Centene from $52.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, June 8th. Finally, Morgan Stanley boosted their price objective on shares of Centene from $50.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 4th. Seven research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Centene has an average rating of “Hold” and a consensus price target of $64.61.
Read Our Latest Stock Report on Centene
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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