Caerus Investment Advisors LLC Increases Stock Holdings in Centene Corporation $CNC

Caerus Investment Advisors LLC boosted its position in shares of Centene Corporation (NYSE:CNC) by 334.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,597 shares of the company’s stock after buying an additional 32,791 shares during the period. Centene accounts for approximately 0.6% of Caerus Investment Advisors LLC’s portfolio, making the stock its 25th biggest holding. Caerus Investment Advisors LLC’s holdings in Centene were worth $1,753,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CNC. Addison Advisors LLC grew its position in shares of Centene by 455.6% during the third quarter. Addison Advisors LLC now owns 739 shares of the company’s stock worth $26,000 after acquiring an additional 606 shares during the last quarter. SBI Securities Co. Ltd. raised its holdings 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 purchasing an additional 406 shares in the last quarter. Ameriflex Group Inc. lifted its holdings in Centene by 152.5% in the third quarter. Ameriflex Group Inc. now owns 1,010 shares of the company’s stock valued at $36,000 after acquiring an additional 610 shares during the period. GoalVest Advisory LLC acquired a new stake in Centene in the fourth quarter valued at $37,000. Finally, Union Bancaire Privee UBP SA acquired a new stake in Centene in the fourth quarter valued at $37,000. 93.63% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on CNC shares. Jefferies Financial Group lifted their price objective on Centene from $39.00 to $48.00 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. Robert W. Baird raised their price target on shares of Centene from $36.00 to $37.00 and gave the company a “neutral” rating in a report on Wednesday, April 15th. Cantor Fitzgerald reissued an “overweight” rating on shares of Centene in a research report on Thursday. Weiss Ratings reissued a “sell (d)” rating on shares of Centene in a research report on Monday, April 20th. Finally, Bank of America boosted their price target on Centene from $72.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $60.24.

Centene Stock Performance

Shares of CNC opened at $63.53 on Friday. The business’s 50 day moving average is $50.81 and its two-hundred day moving average is $44.17. Centene Corporation has a 52-week low of $25.08 and a 52-week high of $66.55. The firm has a market cap of $31.37 billion, a price-to-earnings ratio of -4.83, a PEG ratio of 0.51 and a beta of 1.09. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.76.

Centene (NYSE:CNC) last announced its earnings results on Tuesday, April 28th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $1.14. Centene had a positive return on equity of 5.57% and a negative net margin of 3.25%.The company had revenue of $49.94 billion for the quarter, compared to analyst estimates of $47.53 billion. During the same period in the prior year, the company posted $2.90 EPS. Centene’s quarterly revenue was up 7.1% on a year-over-year basis. Analysts forecast that Centene Corporation will post 3.45 EPS for the current fiscal year.

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.