Aware Super Pty Ltd as trustee of Aware Super Acquires Shares of 7,926 Centene Corporation $CNC

Aware Super Pty Ltd as trustee of Aware Super bought a new position in Centene Corporation (NYSE:CNC) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 7,926 shares of the company’s stock, valued at approximately $259,000.

Several other hedge funds have also modified their holdings of CNC. Vanguard Group Inc. grew its position in Centene by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 56,978,753 shares of the company’s stock valued at $2,344,676,000 after acquiring an additional 190,334 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Centene by 117.0% in the fourth quarter. AQR Capital Management LLC now owns 31,798,738 shares of the company’s stock valued at $1,308,518,000 after purchasing an additional 17,143,904 shares during the period. Geode Capital Management LLC grew its holdings in Centene by 5.5% during the 4th quarter. Geode Capital Management LLC now owns 13,271,492 shares of the company’s stock valued at $554,338,000 after purchasing an additional 697,277 shares in the last quarter. Deerfield Management Company L.P. increased its stake in Centene by 184.0% during the 3rd quarter. Deerfield Management Company L.P. now owns 9,046,000 shares of the company’s stock worth $322,761,000 after buying an additional 5,860,630 shares during the period. Finally, Morgan Stanley lifted its holdings in Centene by 7.2% in the 4th quarter. Morgan Stanley now owns 9,002,570 shares of the company’s stock worth $370,456,000 after buying an additional 603,585 shares in the last quarter. 93.63% of the stock is currently owned by hedge funds and other institutional investors.

Centene Stock Performance

Shares of Centene stock opened at $66.29 on Friday. 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 1 year low of $25.08 and a 1 year high of $69.36. The firm’s 50-day simple moving average is $62.76 and its 200-day simple moving average is $48.85. The firm has a market cap of $32.73 billion, a PE ratio of -5.04, a price-to-earnings-growth ratio of 0.52 and a beta of 1.07.

Centene (NYSE:CNC) last posted 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 business had revenue of $49.94 billion during the quarter, compared to the consensus estimate of $47.53 billion. Centene had a positive return on equity of 5.57% and a negative net margin of 3.25%.The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the firm earned $2.90 earnings per share. Equities analysts forecast that Centene Corporation will post 3.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CNC has been the subject of several recent analyst reports. The Goldman Sachs Group restated a “sell” rating and set a $40.00 target price on shares of Centene in a research note on Wednesday, April 29th. Truist Financial boosted their price target on Centene from $71.00 to $78.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Robert W. Baird raised their price objective on Centene from $36.00 to $37.00 and gave the company a “neutral” rating in a research note on Wednesday, April 15th. Zacks Research downgraded Centene from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Finally, TD Cowen reaffirmed a “hold” rating and issued a $65.00 target price (up from $47.00) on shares of Centene in a research report on Tuesday. Seven investment 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. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $64.61.

Centene Company 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.