Evolve Private Wealth LLC Sells 13,505 Shares of Centene Corporation $CNC

Evolve Private Wealth LLC lessened its position in Centene Corporation (NYSE:CNC) by 20.9% in the first quarter, HoldingsChannel.com reports. The fund owned 51,119 shares of the company’s stock after selling 13,505 shares during the period. Evolve Private Wealth LLC’s holdings in Centene were worth $1,674,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of CNC. DV Equities LLC acquired a new stake in Centene in the 4th quarter valued at about $26,000. IFC & Insurance Marketing Inc. bought a new position in Centene during the fourth quarter worth about $28,000. SBI Securities Co. Ltd. increased its position 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 buying an additional 406 shares during the last quarter. Bayban bought a new stake in Centene in the fourth quarter valued at approximately $33,000. Finally, MV Capital Management Inc. acquired a new stake in shares of Centene in the fourth quarter valued at approximately $34,000. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Truist Financial boosted their target price on Centene from $58.00 to $71.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Robert W. Baird raised their price target on Centene from $36.00 to $37.00 and gave the company a “neutral” rating in a report on Wednesday, April 15th. Zacks Research raised shares of Centene from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft raised shares of Centene from a “hold” rating to a “buy” rating and increased their price objective for the company from $53.00 to $80.00 in a research report on Wednesday, May 20th. Finally, Oppenheimer raised their target price on shares of Centene from $58.00 to $67.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $60.24.

Centene Price Performance

Shares of NYSE CNC opened at $63.67 on Tuesday. The business has a fifty day moving average price of $54.52 and a two-hundred day moving average price of $45.32. The stock has a market capitalization of $31.44 billion, a PE ratio of -4.85, a P/E/G ratio of 0.48 and a beta of 1.09. 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 Corporation has a fifty-two week low of $25.08 and a fifty-two week high of $66.55.

Centene (NYSE:CNC) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $1.14. The company had revenue of $49.94 billion for the quarter, compared to analysts’ expectations of $47.53 billion. Centene had a positive return on equity of 5.57% and a negative net margin of 3.25%.Centene’s revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the business earned $2.90 earnings per share. As a group, equities analysts predict that Centene Corporation will post 3.45 earnings per share for the current fiscal year.

About Centene

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.