Centene Corporation $CNC Shares Purchased by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Centene Corporation (NYSE:CNC) by 161.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 43,151 shares of the company’s stock after buying an additional 26,664 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Centene were worth $1,413,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. DV Equities LLC purchased a new stake in shares of Centene during the fourth quarter worth about $26,000. IFC & Insurance Marketing Inc. purchased a new position in Centene in the fourth quarter valued at about $28,000. SBI Securities Co. Ltd. grew its stake in 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 purchasing an additional 406 shares in the last quarter. Bayban purchased a new stake in Centene during the 4th quarter worth approximately $33,000. Finally, MV Capital Management Inc. acquired a new position in shares of Centene in the 4th quarter valued at approximately $34,000. 93.63% of the stock is owned by institutional investors and hedge funds.

Centene Stock Performance

CNC opened at $62.90 on Thursday. The business’s 50 day moving average is $55.55 and its 200-day moving average is $45.67. 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 PE ratio of -4.79, a price-to-earnings-growth ratio of 0.49 and a beta of 1.09. Centene Corporation has a twelve month low of $25.08 and a twelve month high of $66.55.

Centene (NYSE:CNC) last announced its quarterly 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 positive return on equity of 5.57% and a negative net margin of 3.25%.The company had revenue of $49.94 billion during the quarter, compared to analyst estimates of $47.53 billion. During the same quarter in the previous year, the firm posted $2.90 EPS. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. On average, analysts predict that Centene Corporation will post 3.45 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Oppenheimer lifted their price target 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. Mizuho set a $63.00 target price on shares of Centene and gave the company a “neutral” rating in a research note on Monday, June 8th. Truist Financial lifted their price target on Centene from $58.00 to $71.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. Robert W. Baird increased their target price on Centene from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Wednesday, April 15th. Finally, Morgan Stanley raised their price objective on Centene from $50.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $60.78.

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.