Cibc World Market Inc. Sells 170,355 Shares of Centene Corporation $CNC

Cibc World Market Inc. lowered its holdings in Centene Corporation (NYSE:CNC) by 40.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 250,813 shares of the company’s stock after selling 170,355 shares during the period. Cibc World Market Inc. owned approximately 0.05% of Centene worth $10,321,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Addison Advisors LLC increased its holdings in Centene by 455.6% during the 3rd quarter. Addison Advisors LLC now owns 739 shares of the company’s stock worth $26,000 after acquiring an additional 606 shares during the period. SBI Securities Co. Ltd. increased its holdings in Centene by 118.4% during the 4th 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 period. Ameriflex Group Inc. increased its holdings in Centene by 152.5% during the 3rd quarter. Ameriflex Group Inc. now owns 1,010 shares of the company’s stock worth $36,000 after acquiring an additional 610 shares during the period. GoalVest Advisory LLC bought a new stake in Centene during the 4th quarter worth approximately $37,000. Finally, Union Bancaire Privee UBP SA bought a new stake in Centene during the 4th quarter worth approximately $37,000. Institutional investors own 93.63% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on CNC. The Goldman Sachs Group reaffirmed a “sell” rating and set a $40.00 target price on shares of Centene in a report on Wednesday, April 29th. Argus raised shares of Centene to a “hold” rating in a report on Monday, February 9th. Oppenheimer upped their target price on shares of Centene from $58.00 to $67.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Wall Street Zen raised shares of Centene from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Centene in a report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $59.47.

Centene Price Performance

Shares of NYSE:CNC opened at $62.35 on Friday. The company’s fifty day moving average price is $48.20 and its 200-day moving average price is $43.31. The firm has a market capitalization of $30.79 billion, a price-to-earnings ratio of -4.75, a PEG ratio of 0.49 and a beta of 1.09. Centene Corporation has a one year low of $25.08 and a one year high of $63.50. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.12 and a quick ratio of 1.12.

Centene (NYSE:CNC) last issued 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 firm 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%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.90 EPS. On average, equities research analysts anticipate that Centene Corporation will post 3.45 earnings per share for the current fiscal 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.