Centene Corporation $CNC Shares Acquired by Corient Private Wealth LLC

Corient Private Wealth LLC increased its stake in shares of Centene Corporation (NYSE:CNC) by 27.0% in the second quarter, HoldingsChannel reports. The firm owned 105,438 shares of the company’s stock after buying an additional 22,409 shares during the quarter. Corient Private Wealth LLC’s holdings in Centene were worth $5,723,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CNC. Quadcap Wealth Management LLC boosted its position in shares of Centene by 3.2% in the first quarter. Quadcap Wealth Management LLC now owns 5,617 shares of the company’s stock worth $341,000 after acquiring an additional 172 shares during the last quarter. Grove Bank & Trust raised its position in Centene by 2.8% in the second quarter. Grove Bank & Trust now owns 11,632 shares of the company’s stock valued at $631,000 after purchasing an additional 313 shares during the period. Farther Finance Advisors LLC boosted its holdings in Centene by 5.1% in 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 during the period. Fulton Bank N.A. grew its holdings in Centene by 5.7% during the 2nd quarter. Fulton Bank N.A. now owns 6,155 shares of the company’s stock valued at $334,000 after purchasing an additional 331 shares in the last quarter. Finally, Snowden Capital Advisors LLC increased its position in shares of Centene by 8.0% during the second quarter. Snowden Capital Advisors LLC now owns 5,073 shares of the company’s stock worth $275,000 after acquiring an additional 374 shares during the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CNC. Sanford C. Bernstein restated an “outperform” rating and issued a $45.00 target price (up previously from $36.00) on shares of Centene in a research note on Friday, November 21st. Oppenheimer restated an “outperform” rating and issued a $45.00 price target on shares of Centene in a research note on Thursday, October 30th. Barclays set a $44.00 price objective on shares of Centene and gave the company an “equal weight” rating in a research note on Tuesday, November 4th. Zacks Research raised Centene from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 29th. Finally, UBS Group set a $42.00 target price on shares of Centene and gave the company a “neutral” rating in a research note on Thursday, October 30th. Three research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $38.44.

Centene Stock Performance

CNC stock opened at $39.02 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $19.18 billion, a price-to-earnings ratio of -3.61, a P/E/G ratio of 1.30 and a beta of 0.48. The firm has a 50 day moving average of $37.05 and a two-hundred day moving average of $36.26. Centene Corporation has a 12 month low of $25.08 and a 12 month high of $66.81.

Centene (NYSE:CNC) last announced its earnings results 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 firm had revenue of $49.69 billion during the quarter, compared to analysts’ expectations of $47.50 billion. During the same quarter in the prior year, the business earned $1.62 earnings per share. The company’s revenue was up 18.2% on a year-over-year basis. As a group, equities analysts anticipate that Centene Corporation will post 6.86 EPS for the current fiscal year.

Centene Company Profile

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.