Timber Creek Capital Management LLC Buys New Shares in Centene Corporation (NYSE:CNC)

Timber Creek Capital Management LLC purchased a new stake in shares of Centene Corporation (NYSE:CNC - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 55,675 shares of the company's stock, valued at approximately $3,380,000.

Several other institutional investors have also recently made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Centene by 8.8% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 2,092 shares of the company's stock worth $127,000 after buying an additional 169 shares during the last quarter. Private Trust Co. NA grew its position in shares of Centene by 23.7% in the fourth quarter. Private Trust Co. NA now owns 956 shares of the company's stock valued at $58,000 after purchasing an additional 183 shares during the last quarter. Intellectus Partners LLC lifted its holdings in Centene by 2.8% during the 4th quarter. Intellectus Partners LLC now owns 7,224 shares of the company's stock worth $438,000 after purchasing an additional 200 shares during the last quarter. MV Capital Management Inc. increased its position in Centene by 0.6% during the 4th quarter. MV Capital Management Inc. now owns 31,889 shares of the company's stock worth $1,932,000 after buying an additional 202 shares during the period. Finally, AlphaQuest LLC lifted its holdings in shares of Centene by 1.7% during the fourth quarter. AlphaQuest LLC now owns 16,142 shares of the company's stock worth $978,000 after buying an additional 263 shares in the last quarter. Institutional investors and hedge funds own 93.63% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Barclays dropped their price objective on shares of Centene from $65.00 to $45.00 and set an "equal weight" rating for the company in a research note on Wednesday. Guggenheim reissued a "neutral" rating on shares of Centene in a research report on Tuesday, April 29th. UBS Group reiterated a "neutral" rating and set a $45.00 target price (down from $80.00) on shares of Centene in a research report on Wednesday. Morgan Stanley initiated coverage on shares of Centene in a research report on Monday, June 9th. They set an "overweight" rating and a $70.00 price objective for the company. Finally, Robert W. Baird decreased their target price on shares of Centene from $71.00 to $69.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Ten research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $68.87.

Centene Trading Down 1.5%

Shares of CNC stock traded down $0.51 during trading hours on Friday, hitting $33.28. 33,741,422 shares of the company were exchanged, compared to its average volume of 5,446,665. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.11 and a current ratio of 1.11. Centene Corporation has a fifty-two week low of $33.30 and a fifty-two week high of $80.59. The company has a 50 day simple moving average of $56.42 and a two-hundred day simple moving average of $59.22. The firm has a market cap of $16.56 billion, a P/E ratio of 4.96, a P/E/G ratio of 0.45 and a beta of 0.44.

Centene (NYSE:CNC - Get Free Report) last posted its earnings results on Friday, April 25th. The company reported $2.90 earnings per share for the quarter, topping analysts' consensus estimates of $2.52 by $0.38. The company had revenue of $46.62 billion for the quarter, compared to analyst estimates of $43.16 billion. Centene had a net margin of 2.04% and a return on equity of 14.56%. The firm's revenue was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.26 EPS. Equities analysts anticipate that Centene Corporation will post 6.86 EPS for the current year.

About Centene

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.