Cambiar Investors LLC Purchases 744,926 Shares of Centene Corporation $CNC

Cambiar Investors LLC boosted its holdings in shares of Centene Corporation (NYSE:CNC) by 102.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,471,994 shares of the company’s stock after acquiring an additional 744,926 shares during the period. Centene comprises about 2.4% of Cambiar Investors LLC’s portfolio, making the stock its 12th largest position. Cambiar Investors LLC’s holdings in Centene were worth $52,521,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Centene during the third quarter valued at approximately $27,000. WPG Advisers LLC boosted its position in Centene by 44.5% during the 3rd quarter. WPG Advisers LLC now owns 915 shares of the company’s stock valued at $33,000 after acquiring an additional 282 shares in the last quarter. Bogart Wealth LLC increased its holdings in shares of Centene by 11,011.1% in the 3rd quarter. Bogart Wealth LLC now owns 1,000 shares of the company’s stock valued at $36,000 after acquiring an additional 991 shares during the period. Financial Network Wealth Advisors LLC raised its position in shares of Centene by 54.9% in the 3rd quarter. Financial Network Wealth Advisors LLC now owns 1,100 shares of the company’s stock worth $39,000 after acquiring an additional 390 shares in the last quarter. Finally, Assetmark Inc. boosted its position in Centene by 248.2% during the second quarter. Assetmark Inc. now owns 1,156 shares of the company’s stock valued at $63,000 after purchasing an additional 824 shares in the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Centene Price Performance

NYSE CNC opened at $41.50 on Wednesday. The company has a market cap of $20.40 billion, a price-to-earnings ratio of -3.84, a PEG ratio of 1.05 and a beta of 0.48. 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’s fifty day moving average price is $41.43 and its 200 day moving average price is $35.28. Centene Corporation has a 1 year low of $25.08 and a 1 year high of $66.81.

Centene (NYSE:CNC) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.71. The business had revenue of $49.69 billion for the quarter, compared to the consensus estimate of $47.50 billion. Centene had a positive return on equity of 7.82% and a negative net margin of 2.85%.The company’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.62 EPS. As a group, equities research analysts forecast that Centene Corporation will post 6.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on CNC shares. UBS Group set a $42.00 price target on shares of Centene and gave the company a “neutral” rating in a research report on Thursday, October 30th. Jefferies Financial Group increased their target price on shares of Centene from $25.00 to $32.00 in a research report on Monday, November 3rd. Wells Fargo & Company set a $43.00 price target on shares of Centene and gave the stock an “equal weight” rating in a report on Wednesday, January 7th. Mizuho set a $47.00 price objective on Centene in a report on Friday, January 9th. Finally, TD Cowen restated a “hold” rating on shares of Centene in a research note on Friday, October 31st. Three equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $40.81.

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.