Deutsche Bank AG bought a new stake in shares of Centene Corporation (NYSE:CNC - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,008,084 shares of the company's stock, valued at approximately $257,279,000. Deutsche Bank AG owned 0.81% of Centene at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of CNC. DV Equities LLC bought a new position in Centene in the 4th quarter valued at $26,000. IFC & Insurance Marketing Inc. bought a new stake in Centene during the 4th quarter valued at about $28,000. SBI Securities Co. Ltd. boosted its position in Centene by 118.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 749 shares of the company's stock valued at $31,000 after buying an additional 406 shares during the period. Bayban purchased a new stake in Centene in the 4th quarter valued at about $33,000. Finally, MV Capital Management Inc. bought a new position in Centene in the 4th quarter worth about $34,000. 93.63% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have commented on the company. TD Cowen restated a "hold" rating and set a $65.00 price objective (up from $47.00) on shares of Centene in a report on Tuesday, July 14th. Wall Street Zen upgraded Centene from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 18th. The Goldman Sachs Group restated a "sell" rating and set a $40.00 price target on shares of Centene in a research note on Wednesday, April 29th. Barclays reaffirmed an "overweight" rating and issued a $80.00 price objective (up from $75.00) on shares of Centene in a research note on Wednesday, July 29th. Finally, Argus raised shares of Centene from a "hold" rating to a "buy" rating and set a $80.00 target price on the stock in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Centene currently has a consensus rating of "Hold" and a consensus target price of $70.05.
Read Our Latest Stock Report on Centene
Centene Stock Up 1.4%
CNC stock opened at $65.29 on Wednesday. The stock has a market capitalization of $32.25 billion, a PE ratio of -6.25, a price-to-earnings-growth ratio of 0.36 and a beta of 1.08. Centene Corporation has a 52 week low of $28.24 and a 52 week high of $69.36. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.71. The firm has a 50 day moving average of $64.96 and a 200 day moving average of $52.01.
Centene (NYSE:CNC - Get Free Report) last announced its quarterly earnings results on Monday, July 27th. The company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $1.09 by $1.42. The company had revenue of $53.58 billion for the quarter, compared to the consensus estimate of $47.64 billion. Centene had a positive return on equity of 12.12% and a negative net margin of 2.51%.The firm's revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.16) EPS. Sell-side analysts forecast that Centene Corporation will post 4.89 earnings per share for the current year.
Centene Profile
(
Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Centene, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Centene wasn't on the list.
While Centene currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Robotics and automation are rapidly becoming essential infrastructure across healthcare, manufacturing, logistics, and many other industries.
"Physical AI" is coming to the United States, and there are four ways that investors can gain exposure to this new robotics revolution. Plus, learn which seven companies are most positioned to benefit as intelligent robots enter the workforce.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
