Centene Corporation $CNC Stake Raised by Calamos Advisors LLC

Calamos Advisors LLC raised its holdings in Centene Corporation (NYSE:CNC) by 9.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 122,805 shares of the company’s stock after acquiring an additional 10,312 shares during the quarter. Calamos Advisors LLC’s holdings in Centene were worth $4,021,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. DV Equities LLC acquired a new stake in Centene during the fourth quarter valued at approximately $26,000. IFC & Insurance Marketing Inc. acquired a new position in Centene in the fourth quarter worth approximately $28,000. SBI Securities Co. Ltd. increased its holdings in shares of Centene by 118.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 749 shares of the company’s stock valued at $31,000 after buying an additional 406 shares in the last quarter. Bayban bought a new position in shares of Centene in the fourth quarter valued at $33,000. Finally, MV Capital Management Inc. acquired a new stake in shares of Centene during the 4th quarter valued at $34,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Price Performance

CNC opened at $66.74 on Thursday. The firm has a market capitalization of $32.96 billion, a P/E ratio of -5.08, a PEG ratio of 0.54 and a beta of 1.07. The stock has a fifty day moving average of $62.37 and a 200-day moving average of $48.56. 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 Corporation has a 12-month low of $25.08 and a 12-month high of $69.36.

Centene (NYSE:CNC) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $3.37 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $1.14. The business had revenue of $49.94 billion for 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%.Centene’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.90 earnings per share. Equities analysts forecast that Centene Corporation will post 3.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CNC. Cantor Fitzgerald lifted their target price on Centene from $60.00 to $75.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Raymond James Financial set a $75.00 price target on Centene in a research report on Tuesday, July 7th. Sanford C. Bernstein lifted their price target on Centene from $48.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft upgraded Centene from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $53.00 to $80.00 in a report on Wednesday, May 20th. Finally, Oppenheimer raised 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. Seven equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Centene currently has an average rating of “Hold” and a consensus price target of $64.61.

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.