California State Teachers Retirement System Sells 5,185 Shares of Centene Co. (NYSE:CNC)

California State Teachers Retirement System reduced its position in Centene Co. (NYSE:CNC - Free Report) by 0.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 833,282 shares of the company's stock after selling 5,185 shares during the quarter. California State Teachers Retirement System owned about 0.17% of Centene worth $50,480,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CNC. Capital Advisors Ltd. LLC boosted its position in shares of Centene by 75.3% in the fourth quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company's stock valued at $25,000 after acquiring an additional 177 shares during the period. Pinney & Scofield Inc. bought a new position in shares of Centene in the fourth quarter valued at approximately $25,000. Hurley Capital LLC bought a new position in shares of Centene in the fourth quarter valued at approximately $26,000. Ameriflex Group Inc. bought a new position in shares of Centene in the fourth quarter valued at approximately $26,000. Finally, Rialto Wealth Management LLC purchased a new stake in Centene in the fourth quarter valued at approximately $30,000. 93.63% of the stock is currently owned by institutional investors.

Centene Price Performance

Shares of CNC stock traded down $0.16 during trading hours on Friday, hitting $56.36. 6,738,320 shares of the company's stock were exchanged, compared to its average volume of 4,882,217. The company has a current ratio of 1.11, a quick ratio of 1.10 and a debt-to-equity ratio of 0.70. Centene Co. has a 12-month low of $55.03 and a 12-month high of $80.59. The company has a market capitalization of $28.04 billion, a PE ratio of 9.03, a PEG ratio of 0.80 and a beta of 0.48. The business's 50 day simple moving average is $60.55 and its 200-day simple moving average is $60.21.

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

Wall Street Analysts Forecast Growth

CNC has been the topic of a number of recent analyst reports. Jefferies Financial Group lowered their target price on shares of Centene from $64.00 to $61.00 and set a "hold" rating on the stock in a research note on Tuesday, April 29th. Wells Fargo & Company lowered their target price on shares of Centene from $76.00 to $72.00 and set an "overweight" rating on the stock in a research note on Friday, February 14th. Argus downgraded shares of Centene from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Wall Street Zen downgraded shares of Centene from a "strong-buy" rating to a "buy" rating in a research note on Monday, April 28th. Finally, Barclays lowered their target price on shares of Centene from $93.00 to $84.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $79.77.

Centene 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.