Centene Corporation $CNC Shares Sold by Capital World Investors

Capital World Investors reduced its stake in Centene Corporation (NYSE:CNC) by 10.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,490,300 shares of the company’s stock after selling 385,699 shares during the quarter. Capital World Investors owned 0.71% of Centene worth $143,626,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Addison Advisors LLC lifted its holdings in shares of Centene by 455.6% in the 3rd quarter. Addison Advisors LLC now owns 739 shares of the company’s stock worth $26,000 after acquiring an additional 606 shares during the last quarter. SBI Securities Co. Ltd. lifted its holdings in shares of Centene by 118.4% in the 4th 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 last quarter. GoalVest Advisory LLC acquired a new position in shares of Centene in the 4th quarter worth approximately $37,000. Union Bancaire Privee UBP SA acquired a new position in shares of Centene in the 4th quarter worth approximately $37,000. Finally, Elyxium Wealth LLC acquired a new position in shares of Centene in the 4th quarter worth approximately $41,000. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Trading Up 4.5%

Shares of NYSE:CNC opened at $65.11 on Tuesday. Centene Corporation has a 52 week low of $25.08 and a 52 week high of $65.80. The company’s 50 day moving average is $48.84 and its two-hundred day moving average is $43.55. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.76. The company has a market cap of $32.15 billion, a PE ratio of -4.96, a P/E/G ratio of 0.49 and a beta of 1.09.

Centene (NYSE:CNC) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $3.37 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $47.53 billion. During the same period in the prior year, the firm posted $2.90 EPS. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. Equities analysts predict that Centene Corporation will post 3.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Mizuho set a $63.00 price objective on shares of Centene and gave the stock a “neutral” rating in a report on Monday. TD Cowen reiterated a “hold” rating and set a $47.00 target price (up from $38.00) on shares of Centene in a report on Monday, May 4th. Cantor Fitzgerald upgraded shares of Centene from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $41.00 to $60.00 in a report on Tuesday, April 28th. Wall Street Zen upgraded shares of Centene from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Oppenheimer increased their target price on shares of Centene from $58.00 to $67.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $60.24.

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.