Sumitomo Mitsui Asset Management Company LTD boosted its position in Centene Corp (NYSE:CNC) by 111.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,391 shares of the company’s stock after purchasing an additional 14,993 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Centene were worth $1,507,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Morgan Stanley grew its holdings in Centene by 33.4% during the 3rd quarter. Morgan Stanley now owns 892,167 shares of the company’s stock valued at $129,167,000 after buying an additional 223,395 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in Centene during the 4th quarter valued at approximately $368,000. Rice Partnership LLC grew its holdings in Centene by 10.3% during the 4th quarter. Rice Partnership LLC now owns 3,923 shares of the company’s stock valued at $452,000 after buying an additional 367 shares in the last quarter. JGP Global Gestao de Recursos Ltda. purchased a new stake in Centene during the 4th quarter valued at approximately $480,000. Finally, Tributary Capital Management LLC grew its holdings in Centene by 0.7% during the 4th quarter. Tributary Capital Management LLC now owns 15,200 shares of the company’s stock valued at $1,753,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 49.14% of the company’s stock.
A number of analysts recently issued reports on the company. Zacks Investment Research upgraded Centene from a “hold” rating to a “buy” rating in a research report on Wednesday, February 6th. Oppenheimer decreased their price objective on Centene from $165.00 to $83.00 and set an “outperform” rating for the company in a report on Wednesday, February 6th. Jefferies Financial Group reiterated a “buy” rating and issued a $76.00 target price on shares of Centene in a research note on Thursday, February 7th. ValuEngine lowered Centene from a “hold” rating to a “sell” rating in a research note on Friday, February 8th. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $83.00 target price on shares of Centene in a research note on Wednesday, February 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. Centene has an average rating of “Buy” and an average price target of $75.80.
Centene (NYSE:CNC) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.07. Centene had a return on equity of 14.60% and a net margin of 1.66%. The business had revenue of $18.44 billion for the quarter, compared to analyst estimates of $17.44 billion. During the same quarter in the previous year, the firm earned $2.17 earnings per share. The company’s revenue was up 39.8% on a year-over-year basis. As a group, equities analysts forecast that Centene Corp will post 4.36 earnings per share 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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