Brookstone Capital Management Takes $647,000 Position in Centene Corporation $CNC

Brookstone Capital Management bought a new position in Centene Corporation (NYSE:CNC) in the third quarter, Holdings Channel.com reports. The institutional investor bought 18,137 shares of the company’s stock, valued at approximately $647,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Grove Bank & Trust raised its stake in shares of Centene by 2.8% during the 2nd quarter. Grove Bank & Trust now owns 11,632 shares of the company’s stock worth $631,000 after acquiring an additional 313 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Centene by 5.1% during the second quarter. Farther Finance Advisors LLC now owns 6,658 shares of the company’s stock worth $361,000 after purchasing an additional 325 shares in the last quarter. Fulton Bank N.A. lifted its holdings in shares of 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 during the last quarter. Snowden Capital Advisors LLC boosted its position in shares of Centene by 8.0% in the 2nd quarter. Snowden Capital Advisors LLC now owns 5,073 shares of the company’s stock worth $275,000 after purchasing an additional 374 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. increased its position in Centene by 4.6% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 8,946 shares of the company’s stock valued at $543,000 after buying an additional 395 shares in the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Zacks Research raised Centene from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 29th. JPMorgan Chase & Co. boosted their target price on shares of Centene from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Centene in a report on Wednesday, October 8th. Mizuho boosted their price objective on shares of Centene from $28.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. Finally, Cowen restated a “hold” rating on shares of Centene in a research note on Friday, October 31st. 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 MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $38.44.

Centene Trading Up 1.0%

Shares of Centene stock opened at $41.22 on Wednesday. Centene Corporation has a 1 year low of $25.08 and a 1 year high of $66.81. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market cap of $20.26 billion, a PE ratio of -3.81, a price-to-earnings-growth ratio of 1.36 and a beta of 0.48. The firm has a fifty day moving average price of $37.66 and a 200 day moving average price of $35.39.

Centene (NYSE:CNC) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $47.50 billion. During the same quarter last year, the business posted $1.62 EPS. The company’s revenue was up 18.2% on a year-over-year basis. Equities research analysts predict that Centene Corporation will post 6.86 earnings per share for the current year.

Centene 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.