Centene Corporation $CNC Shares Acquired by ARGA Investment Management LP

ARGA Investment Management LP grew its stake in shares of Centene Corporation (NYSE:CNC - Free Report) by 10.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 369,570 shares of the company's stock after buying an additional 34,673 shares during the quarter. Centene makes up 0.6% of ARGA Investment Management LP's holdings, making the stock its 28th biggest holding. ARGA Investment Management LP owned approximately 0.07% of Centene worth $22,958,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Silicon Valley Capital Partners bought a new stake in shares of Centene in the 2nd quarter valued at about $25,000. North Point Portfolio Managers Corp OH bought a new position in shares of Centene during the third quarter worth about $25,000. Toth Financial Advisory Corp acquired a new position in shares of Centene in the third quarter worth approximately $30,000. MidFirst Bank acquired a new position in shares of Centene in the second quarter worth approximately $32,000. Finally, Fiduciary Financial Advisors bought a new stake in Centene in the second quarter valued at approximately $34,000. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CNC. Mizuho set a $72.00 target price on shares of Centene in a report on Wednesday, October 28th. Cantor Fitzgerald increased their price target on Centene from $75.00 to $79.00 and gave the stock an "overweight" rating in a report on Wednesday, October 28th. Robert W. Baird lifted their price objective on Centene from $66.00 to $71.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 28th. HC Wainwright reissued a "buy" rating on shares of Centene in a research note on Friday, September 11th. Finally, Wall Street Zen lowered Centene from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Nine investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Centene presently has a consensus rating of "Hold" and a consensus target price of $73.80.

Centene Stock Up 1.3%

Shares of NYSE CNC opened at $67.38 on Wednesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.16 and a quick ratio of 1.16. The company has a 50-day moving average price of $66.16 and a 200-day moving average price of $55.47. The stock has a market capitalization of $33.36 billion, a P/E ratio of 12.62, a P/E/G ratio of 0.39 and a beta of 1.07. Centene Corporation has a 1 year low of $31.63 and a 1 year high of $72.50.

Centene (NYSE:CNC - Get Free Report) last posted its quarterly earnings data on Tuesday, October 27th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $0.48. Centene had a net margin of 0.72% and a return on equity of 12.15%. The firm had revenue of $50.65 billion for the quarter, compared to the consensus estimate of $47.12 billion. During the same period in the previous year, the firm earned $0.50 EPS. The business's revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities research analysts forecast that Centene Corporation will post 5.26 EPS for the current fiscal year.

Insider Activity at Centene

In related news, General Counsel Christopher Koster sold 56,500 shares of Centene stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $66.90, for a total transaction of $3,779,850.00. Following the sale, the general counsel directly owned 248,854 shares in the company, valued at approximately $16,648,332.60. This trade represents a 18.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.37% of the company's stock.

Centene Profile

Centene Corporation is a diversified healthcare enterprise that provides government-sponsored and commercial health insurance programs and related healthcare services. The company's offerings are primarily focused on Medicaid, Medicare, and health insurance marketplace plans, with an emphasis on serving individuals and families who may have limited access to traditional healthcare coverage.

Centene operates Medicaid health plans through state-based contracts and offers Medicare Advantage, Medicare prescription drug, and Medicare Supplement products through its Wellcare brand.

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