Gateway Investment Advisers LLC increased its stake in shares of Centene Corp (NYSE:CNC) by 90.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 19,031 shares of the company’s stock after purchasing an additional 9,047 shares during the period. Gateway Investment Advisers LLC’s holdings in Centene were worth $1,011,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Neville Rodie & Shaw Inc. increased its stake in Centene by 5.3% in the 4th quarter. Neville Rodie & Shaw Inc. now owns 2,000 shares of the company’s stock worth $231,000 after acquiring an additional 100 shares during the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management increased its stake in Centene by 1.5% in the 4th quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 6,600 shares of the company’s stock worth $761,000 after acquiring an additional 100 shares during the last quarter. Tributary Capital Management LLC increased its stake in Centene by 0.7% in the 4th quarter. Tributary Capital Management LLC now owns 15,200 shares of the company’s stock worth $1,753,000 after acquiring an additional 100 shares during the last quarter. Kepos Capital LP increased its stake in Centene by 0.3% in the 3rd quarter. Kepos Capital LP now owns 50,231 shares of the company’s stock worth $7,272,000 after acquiring an additional 136 shares during the last quarter. Finally, Advisor Partners LLC increased its stake in Centene by 2.2% in the 4th quarter. Advisor Partners LLC now owns 6,822 shares of the company’s stock worth $787,000 after acquiring an additional 148 shares during the last quarter. 45.57% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have weighed in on the company. ValuEngine lowered Centene from a “hold” rating to a “sell” rating in a research note on Wednesday, March 27th. Oppenheimer decreased their target price on Centene from $165.00 to $83.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 6th. Zacks Investment Research upgraded Centene from a “hold” rating to a “buy” rating and set a $66.50 target price on the stock in a research note on Friday, January 11th. Cowen assumed coverage on Centene in a research note on Thursday, February 28th. They issued an “outperform” rating and a $77.00 target price on the stock. Finally, Jefferies Financial Group restated a “buy” rating and issued a $76.00 target price on shares of Centene in a research note on Thursday, February 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $76.87.
Shares of Centene stock opened at $50.07 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market cap of $21.99 billion, a PE ratio of 14.14, a PEG ratio of 0.94 and a beta of 1.26. Centene Corp has a 12 month low of $49.27 and a 12 month high of $74.49.
Centene (NYSE:CNC) last announced its quarterly earnings data on Tuesday, February 5th. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.33 by $0.05. The firm had revenue of $16.56 billion for the quarter, compared to analyst estimates of $16.38 billion. Centene had a return on equity of 14.10% and a net margin of 1.50%. The company’s revenue was up 29.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.49 EPS. Research analysts forecast that Centene Corp will post 4.24 EPS for the current year.
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Centene Company Profile
Centene Corporation operates as a diversified and multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. The company's Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which covers dually eligible individuals, as well as aged, blind, or disabled programs.
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