Centene Corporation $CNC Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its stake in shares of Centene Corporation (NYSE:CNC) by 103.6% during the first quarter, HoldingsChannel reports. The fund owned 3,825,275 shares of the company’s stock after acquiring an additional 1,946,302 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Centene were worth $125,240,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CNC. DV Equities LLC bought a new position in shares of Centene during the fourth quarter worth about $26,000. IFC & Insurance Marketing Inc. acquired a new stake in Centene during the fourth quarter valued at approximately $28,000. SBI Securities Co. Ltd. lifted its holdings in Centene by 118.4% during the 4th 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 acquired a new position in shares of Centene in the 4th quarter worth approximately $33,000. Finally, MV Capital Management Inc. acquired a new position in shares of Centene in the 4th quarter worth approximately $34,000. Institutional investors own 93.63% of the company’s stock.

Wall Street Analyst Weigh In

CNC has been the topic of several research reports. Truist Financial upped their price target on Centene from $58.00 to $71.00 and gave the company a “buy” rating in a research report on Monday, June 1st. Robert W. Baird boosted their target price 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. Sanford C. Bernstein increased their target price on shares of Centene from $48.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Royal Bank Of Canada began coverage on shares of Centene in a report on Tuesday. They issued a “sector perform” rating and a $70.00 price target for the company. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Centene in a research report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Centene presently has an average rating of “Hold” and an average target price of $60.78.

Centene Price Performance

NYSE CNC opened at $62.90 on Thursday. Centene Corporation has a 52 week low of $25.08 and a 52 week high of $66.55. 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 stock has a market cap of $31.06 billion, a price-to-earnings ratio of -4.79, a price-to-earnings-growth ratio of 0.49 and a beta of 1.09. The company has a 50-day moving average price of $55.55 and a two-hundred day moving average price of $45.67.

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