Voloridge Investment Management LLC lifted its holdings in Centene Co. (NYSE:CNC - Free Report) by 81.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,594,698 shares of the company's stock after buying an additional 715,080 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.32% of Centene worth $96,607,000 as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of CNC. Norges Bank bought a new position in shares of Centene in the 4th quarter worth about $1,536,167,000. AQR Capital Management LLC increased its holdings in shares of Centene by 42.8% in the 4th quarter. AQR Capital Management LLC now owns 7,742,698 shares of the company's stock worth $469,053,000 after acquiring an additional 2,319,952 shares during the period. Two Sigma Investments LP increased its holdings in shares of Centene by 1,788.1% in the 4th quarter. Two Sigma Investments LP now owns 2,245,511 shares of the company's stock worth $136,033,000 after acquiring an additional 2,126,582 shares during the period. Invesco Ltd. increased its holdings in shares of Centene by 21.7% in the 4th quarter. Invesco Ltd. now owns 10,555,456 shares of the company's stock worth $639,450,000 after acquiring an additional 1,884,358 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Centene by 91.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,770,426 shares of the company's stock worth $228,414,000 after acquiring an additional 1,802,265 shares during the period. 93.63% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of analysts recently weighed in on CNC shares. StockNews.com cut shares of Centene from a "strong-buy" rating to a "buy" rating in a report on Monday, April 28th. Guggenheim reaffirmed a "neutral" rating on shares of Centene in a report on Tuesday, April 29th. Barclays dropped their price objective on shares of Centene from $93.00 to $84.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Robert W. Baird dropped their price target on shares of Centene from $71.00 to $69.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Finally, Wells Fargo & Company dropped their price target on shares of Centene from $76.00 to $72.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $79.77.
Check Out Our Latest Stock Analysis on CNC
Centene Stock Performance
Shares of CNC opened at $61.47 on Tuesday. The firm's 50 day moving average is $60.72 and its 200-day moving average is $60.43. The stock has a market capitalization of $30.59 billion, a P/E ratio of 9.85, a P/E/G 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. Centene Co. has a 12-month low of $55.03 and a 12-month high of $80.59.
Centene (NYSE:CNC - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $46.62 billion for the quarter, compared to analysts' expectations of $43.16 billion. Centene had a net margin of 2.03% and a return on equity of 13.85%. The business's revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.26 EPS. Equities research analysts anticipate that Centene Co. will post 6.86 EPS for the current fiscal year.
About Centene
(
Free Report)
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.
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