Cornerstone Capital Management Holdings LLC. trimmed its position in shares of Centene Corp (NYSE:CNC) by 3.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 473,937 shares of the company’s stock after selling 18,483 shares during the quarter. Cornerstone Capital Management Holdings LLC. owned about 0.27% of Centene worth $47,809,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in CNC. Nationwide Fund Advisors lifted its position in shares of Centene by 1.5% during the third quarter. Nationwide Fund Advisors now owns 81,148 shares of the company’s stock valued at $7,853,000 after buying an additional 1,223 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Centene by 121.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 9,316 shares of the company’s stock valued at $902,000 after buying an additional 5,102 shares during the last quarter. Chicago Equity Partners LLC purchased a new stake in shares of Centene during the third quarter valued at about $2,049,000. American Century Companies Inc. lifted its position in shares of Centene by 176.0% during the third quarter. American Century Companies Inc. now owns 8,974 shares of the company’s stock valued at $868,000 after buying an additional 5,723 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Centene by 73.5% in the 3rd quarter. Principal Financial Group Inc. now owns 492,498 shares of the company’s stock valued at $47,659,000 after purchasing an additional 208,608 shares during the last quarter. 90.53% of the stock is owned by institutional investors and hedge funds.
CNC has been the subject of several research analyst reports. Zacks Investment Research raised shares of Centene from a “hold” rating to a “strong-buy” rating and set a $117.00 price objective for the company in a research report on Tuesday, December 26th. Oppenheimer increased their price objective on shares of Centene from $111.00 to $122.00 and gave the company an “outperform” rating in a research report on Wednesday, December 20th. Jefferies Group increased their price objective on shares of Centene from $112.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, December 18th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $134.00 price objective on shares of Centene in a research report on Monday, December 18th. Finally, ValuEngine raised shares of Centene from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $110.28.
Centene Corp (CNC) opened at $100.30 on Tuesday. Centene Corp has a fifty-two week low of $65.03 and a fifty-two week high of $112.42. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market cap of $17,993.49, a P/E ratio of 21.39, a P/E/G ratio of 0.99 and a beta of 0.76.
Centene (NYSE:CNC) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.97 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.03. Centene had a net margin of 1.71% and a return on equity of 13.68%. The company had revenue of $12.81 billion for the quarter, compared to the consensus estimate of $12.25 billion. During the same quarter in the prior year, the company earned $1.19 EPS. Centene’s quarterly revenue was up 7.5% on a year-over-year basis. analysts expect that Centene Corp will post 7.2 earnings per share for the current year.
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Centene Company Profile
Centene Corporation is a healthcare company. The Company provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. The Company operates through two segments: Managed Care and Specialty Services. The Company’s Managed Care segment provides health plan coverage to individuals, through government subsidized programs, including Medicaid, the State Children’s Health Insurance Program (CHIP), Long Term Care, Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD), Medicare, and Health Insurance Marketplace.
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