Centene Corporation $CNC Position Boosted by Clearstead Advisors LLC

Clearstead Advisors LLC lifted its stake in shares of Centene Corporation (NYSE:CNC) by 108.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,907 shares of the company’s stock after purchasing an additional 14,520 shares during the period. Clearstead Advisors LLC’s holdings in Centene were worth $1,148,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Addison Advisors LLC raised its stake in Centene by 455.6% during the third quarter. Addison Advisors LLC now owns 739 shares of the company’s stock worth $26,000 after acquiring an additional 606 shares during the period. SBI Securities Co. Ltd. raised its stake in Centene by 118.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 749 shares of the company’s stock worth $31,000 after acquiring an additional 406 shares during the period. Ameriflex Group Inc. raised its stake in Centene by 152.5% during the third quarter. Ameriflex Group Inc. now owns 1,010 shares of the company’s stock worth $36,000 after acquiring an additional 610 shares during the period. GoalVest Advisory LLC acquired a new stake in Centene during the fourth quarter worth about $37,000. Finally, Union Bancaire Privee UBP SA acquired a new stake in Centene during the fourth quarter worth about $37,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Trading Up 2.6%

Centene stock opened at $58.72 on Thursday. Centene Corporation has a 52 week low of $25.08 and a 52 week high of $60.76. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market capitalization of $29.00 billion, a price-to-earnings ratio of -4.47, a P/E/G ratio of 0.45 and a beta of 1.06. The company has a 50 day moving average price of $44.49 and a 200 day moving average price of $42.14.

Centene (NYSE:CNC) last released its earnings results on Tuesday, April 28th. The company reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $1.14. Centene had a negative net margin of 3.25% and a positive return on equity of 5.57%. The company had revenue of $49.94 billion during the quarter, compared to the consensus estimate of $47.53 billion. During the same quarter in the prior year, the firm earned $2.90 EPS. The company’s revenue was up 7.1% compared to the same quarter last year. Research analysts forecast that Centene Corporation will post 3.45 EPS for the current year.

Analysts Set New Price Targets

CNC has been the topic of several analyst reports. The Goldman Sachs Group restated a “sell” rating and issued a $40.00 price target on shares of Centene in a research note on Wednesday, April 29th. Robert W. Baird raised their price target on shares of Centene from $36.00 to $37.00 and gave the company a “neutral” rating in a research note on Wednesday, April 15th. Morgan Stanley raised their price objective on shares of Centene from $45.00 to $50.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 29th. Weiss Ratings reiterated a “sell (d)” rating on shares of Centene in a research note on Monday, April 20th. Finally, Wells Fargo & Company raised their target price on shares of Centene from $44.00 to $56.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $57.65.

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.