Strs Ohio Cuts Stock Holdings in Centene Corporation $CNC

Strs Ohio lessened its position in Centene Corporation (NYSE:CNC) by 88.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 11,719 shares of the company’s stock after selling 90,149 shares during the quarter. Strs Ohio’s holdings in Centene were worth $418,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Centene during the third quarter worth $27,000. WPG Advisers LLC boosted its position in Centene by 44.5% during the third quarter. WPG Advisers LLC now owns 915 shares of the company’s stock worth $33,000 after acquiring an additional 282 shares during the last quarter. Bogart Wealth LLC grew its stake in Centene by 11,011.1% during 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 in the last quarter. Financial Network Wealth Advisors LLC raised its holdings in Centene by 54.9% in the 3rd quarter. Financial Network Wealth Advisors LLC now owns 1,100 shares of the company’s stock valued at $39,000 after acquiring an additional 390 shares during the last quarter. Finally, Quent Capital LLC acquired a new position in shares of Centene during the 3rd quarter worth approximately $45,000. 93.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CNC. Cantor Fitzgerald lifted their price objective on Centene from $38.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Zacks Research raised shares of Centene from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 29th. Mizuho set a $47.00 target price on shares of Centene in a report on Friday, January 9th. Truist Financial raised their price target on shares of Centene from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Monday, January 5th. Finally, UBS Group set a $42.00 price objective on Centene and gave the company a “neutral” rating in a report on Thursday, October 30th. Three investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Centene has a consensus rating of “Hold” and an average price target of $40.81.

Centene Trading Down 0.7%

CNC opened at $43.31 on Friday. Centene Corporation has a 52 week low of $25.08 and a 52 week high of $66.81. 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 business has a fifty day simple moving average of $41.86 and a 200-day simple moving average of $35.51. The firm has a market cap of $21.29 billion, a P/E ratio of -4.00, a P/E/G ratio of 1.01 and a beta of 0.48.

Centene (NYSE:CNC) last posted its earnings results on Wednesday, October 29th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.71. The firm had revenue of $49.69 billion for the quarter, compared to analyst estimates of $47.50 billion. Centene had a positive return on equity of 7.82% and a negative net margin of 2.85%.Centene’s revenue was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.62 EPS. On average, equities analysts expect 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.