Calamos Wealth Management LLC Makes New $338,000 Investment in Centene Corporation $CNC

Calamos Wealth Management LLC bought a new stake in Centene Corporation (NYSE:CNC) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,312 shares of the company’s stock, valued at approximately $338,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CNC. DV Equities LLC bought a new stake in Centene during the 4th quarter worth about $26,000. IFC & Insurance Marketing Inc. bought a new position in shares of Centene in the fourth quarter worth about $28,000. SBI Securities Co. Ltd. lifted its position in shares of 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 purchasing an additional 406 shares in the last quarter. Bayban bought a new stake in shares of Centene during the fourth quarter valued at approximately $33,000. Finally, MV Capital Management Inc. bought a new stake in shares of Centene during the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Price Performance

Shares of CNC stock opened at $66.74 on Thursday. The firm’s 50 day moving average price is $62.37 and its two-hundred day moving average price is $48.56. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.12 and a current ratio of 1.12. Centene Corporation has a 52-week low of $25.08 and a 52-week high of $69.36. The stock has a market cap of $32.96 billion, a PE ratio of -5.08, a PEG ratio of 0.54 and a beta of 1.07.

Centene (NYSE:CNC) last issued its earnings results on Tuesday, April 28th. The company reported $3.37 EPS for the quarter, beating the consensus estimate 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 company had revenue of $49.94 billion during the quarter, compared to analysts’ expectations of $47.53 billion. During the same quarter in the previous year, the company posted $2.90 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, analysts forecast that Centene Corporation will post 3.44 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Royal Bank Of Canada boosted their price objective on shares of Centene from $70.00 to $71.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 9th. The Goldman Sachs Group reissued a “sell” rating and issued a $40.00 target price on shares of Centene in a research note on Wednesday, April 29th. JPMorgan Chase & Co. boosted their target price on Centene from $52.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, June 8th. 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. Finally, Cantor Fitzgerald lifted their price objective on Centene from $60.00 to $75.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Seven analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $64.61.

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.