Centene Corporation $CNC Shares Bought by Corient Private Wealth LLC

Corient Private Wealth LLC grew its stake in shares of Centene Corporation (NYSE:CNC) by 21.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 157,519 shares of the company’s stock after acquiring an additional 27,639 shares during the period. Corient Private Wealth LLC’s holdings in Centene were worth $6,482,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several research firms have weighed in on CNC. Mizuho set a $63.00 price target on Centene and gave the stock a “neutral” rating in a research report on Monday, June 8th. Zacks Research upgraded Centene from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 6th. Wall Street Zen raised shares of Centene from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Raymond James Financial set a $60.00 price objective on shares of Centene in a research report on Wednesday, April 29th. Finally, Wells Fargo & Company lifted their target price on shares of Centene from $44.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $60.78.

Centene Price Performance

CNC opened at $64.73 on Friday. Centene Corporation has a 1 year low of $25.08 and a 1 year high of $66.55. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.12 and a current ratio of 1.12. The company’s 50 day simple moving average is $56.10 and its 200 day simple moving average is $45.85. The stock has a market capitalization of $31.96 billion, a PE ratio of -4.93, a P/E/G ratio of 0.49 and a beta of 1.09.

Centene (NYSE:CNC) last announced 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. The company had revenue of $49.94 billion for the quarter, compared to analyst estimates of $47.53 billion. Centene had a negative net margin of 3.25% and a positive return on equity of 5.57%. Centene’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the business earned $2.90 EPS. As a group, sell-side analysts expect that Centene Corporation will post 3.45 EPS for the current 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.