Beacon Pointe Advisors LLC Reduces Stock Holdings in Centene Co. (NYSE:CNC)

Beacon Pointe Advisors LLC lessened its holdings in Centene Co. (NYSE:CNC - Free Report) by 81.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 12,769 shares of the company's stock after selling 55,599 shares during the period. Beacon Pointe Advisors LLC's holdings in Centene were worth $774,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CNC. Capital Advisors Ltd. LLC lifted its position in Centene by 75.3% during the fourth quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company's stock valued at $25,000 after purchasing an additional 177 shares during the last quarter. Hurley Capital LLC purchased a new position in Centene in the fourth quarter worth about $26,000. Rialto Wealth Management LLC purchased a new stake in Centene during the fourth quarter valued at approximately $30,000. OFI Invest Asset Management purchased a new position in shares of Centene in the 4th quarter worth approximately $33,000. Finally, SRS Capital Advisors Inc. raised its holdings in Centene by 73.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 631 shares of the company's stock valued at $38,000 after buying an additional 267 shares during the period. Institutional investors own 93.63% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Robert W. Baird dropped their target price on Centene from $71.00 to $69.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. StockNews.com lowered Centene from a "strong-buy" rating to a "buy" rating in a report on Monday, April 28th. Argus lowered Centene from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Wells Fargo & Company cut their price target on Centene from $76.00 to $72.00 and set an "overweight" rating on the stock in a research note on Friday, February 14th. Finally, Guggenheim reiterated a "neutral" rating on shares of Centene in a report on Tuesday, April 29th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $79.77.

Centene Stock Down 0.1 %

Centene stock traded down $0.05 during midday trading on Tuesday, reaching $59.73. The company's stock had a trading volume of 4,212,643 shares, compared to its average volume of 4,766,692. Centene Co. has a 52-week low of $55.03 and a 52-week high of $80.59. The stock has a market capitalization of $29.72 billion, a P/E ratio of 9.57, a PEG ratio of 0.80 and a beta of 0.48. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.11 and a quick ratio of 1.10. The stock's 50-day simple moving average is $60.23 and its 200-day simple moving average is $60.46.

Centene (NYSE:CNC - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The company reported $2.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.52 by $0.38. Centene had a net margin of 2.03% and a return on equity of 13.85%. The business had revenue of $46.62 billion during the quarter, compared to analysts' expectations of $43.16 billion. During the same quarter last year, the company posted $2.26 earnings per share. The business's quarterly revenue was up 15.4% on a year-over-year basis. On average, sell-side analysts expect that Centene Co. will post 6.86 EPS for the current year.

Centene Company Profile

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children's health insurance program, foster care, medicare-medicaid plans, long-term services and support.