Focused Investors LLC Trims Stake in Centene Corporation $CNC

Focused Investors LLC lowered its position in Centene Corporation (NYSE:CNC) by 2.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,233,150 shares of the company’s stock after selling 31,200 shares during the quarter. Centene comprises approximately 1.3% of Focused Investors LLC’s portfolio, making the stock its 22nd largest holding. Focused Investors LLC’s holdings in Centene were worth $40,373,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. DV Equities LLC purchased a new position in Centene during the fourth quarter worth about $26,000. IFC & Insurance Marketing Inc. purchased a new stake in shares of Centene in the 4th quarter valued at about $28,000. SBI Securities Co. Ltd. boosted its position in shares of Centene by 118.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 749 shares of the company’s stock valued at $31,000 after acquiring an additional 406 shares during the last quarter. Bayban purchased a new position in shares of Centene during the fourth quarter worth about $33,000. Finally, MV Capital Management Inc. bought a new position in shares of Centene in the fourth quarter worth approximately $34,000. Institutional investors own 93.63% of the company’s stock.

Centene Stock Up 0.1%

Shares of NYSE CNC opened at $61.06 on Monday. The stock has a market capitalization of $30.15 billion, a P/E ratio of -4.65, a PEG ratio of 0.48 and a beta of 1.09. Centene Corporation has a one year low of $25.08 and a one year high of $66.55. The firm’s 50 day simple moving average is $54.00 and its two-hundred day simple moving average is $45.15. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.12 and a quick ratio of 1.12.

Centene (NYSE:CNC) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $3.37 earnings per share 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 firm had revenue of $49.94 billion during the quarter, compared to analyst estimates of $47.53 billion. During the same period in the previous year, the business posted $2.90 EPS. The business’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, analysts expect that Centene Corporation will post 3.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Raymond James Financial set a $60.00 target price on shares of Centene in a research report on Wednesday, April 29th. Morgan Stanley increased their price target on shares of Centene from $50.00 to $57.00 and gave the stock an “equal weight” rating in a report on Thursday, June 4th. Bank of America lifted their price objective on shares of Centene from $72.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Wells Fargo & Company upped their target price on shares of Centene from $44.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Finally, Barclays reissued an “overweight” rating on shares of Centene in a research note on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $60.24.

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.