Ballentine Partners LLC Invests $416,000 in Centene Corporation $CNC

Ballentine Partners LLC bought a new position in Centene Corporation (NYSE:CNC) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 11,660 shares of the company’s stock, valued at approximately $416,000.

Other hedge funds have also modified their holdings of the company. Baird Financial Group Inc. bought a new stake in Centene during the first quarter valued at about $236,000. Sivia Capital Partners LLC raised its stake in Centene by 80.0% during the 2nd quarter. Sivia Capital Partners LLC now owns 9,710 shares of the company’s stock valued at $527,000 after purchasing an additional 4,315 shares during the period. Greenleaf Trust boosted its stake in Centene by 10.4% in the 2nd quarter. Greenleaf Trust now owns 7,415 shares of the company’s stock worth $402,000 after purchasing an additional 701 shares during the period. ASR Vermogensbeheer N.V. grew its holdings in Centene by 3.0% during the 2nd quarter. ASR Vermogensbeheer N.V. now owns 24,608 shares of the company’s stock valued at $1,336,000 after buying an additional 719 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Centene by 8.6% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 65,950 shares of the company’s stock valued at $3,580,000 after buying an additional 5,206 shares during the last quarter. 93.63% of the stock is currently owned by institutional investors.

Centene Trading Down 0.7%

CNC stock opened at $43.31 on Friday. The company has a market capitalization of $21.29 billion, a PE ratio of -4.00, a P/E/G ratio of 1.01 and a beta of 0.48. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.08 and a quick ratio of 1.08. Centene Corporation has a 12 month low of $25.08 and a 12 month high of $66.81. The firm’s 50-day moving average is $41.86 and its 200 day moving average is $35.51.

Centene (NYSE:CNC) last released its quarterly earnings data on Wednesday, October 29th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of ($0.21) by $0.71. The company had revenue of $49.69 billion for the quarter, compared to the consensus estimate of $47.50 billion. Centene had a positive return on equity of 7.82% and a negative net margin of 2.85%.Centene’s quarterly revenue was up 18.2% on a year-over-year basis. During the same period last year, the business posted $1.62 EPS. On average, research analysts anticipate that Centene Corporation will post 6.86 EPS for the current year.

Wall Street Analysts Forecast Growth

CNC has been the topic of a number of research reports. Mizuho set a $47.00 price target on shares of Centene in a report on Friday, January 9th. TD Cowen reiterated a “hold” rating on shares of Centene in a research report on Friday, October 31st. Oppenheimer restated an “outperform” rating and set a $45.00 price target on shares of Centene in a report on Thursday, October 30th. Wells Fargo & Company set a $43.00 price objective on Centene and gave the stock an “equal weight” rating in a report on Wednesday, January 7th. Finally, Robert W. Baird raised their target price on shares of Centene from $28.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday, December 11th. Three equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $40.81.

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.