Centene Corporation (NYSE:CNC) Shares Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas increased its holdings in shares of Centene Corporation (NYSE:CNC - Free Report) by 47.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 573,631 shares of the company's stock after buying an additional 183,629 shares during the quarter. Teacher Retirement System of Texas owned about 0.12% of Centene worth $34,825,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in CNC. Pinney & Scofield Inc. acquired a new stake in shares of Centene in the fourth quarter worth approximately $25,000. Hurley Capital LLC acquired a new position in Centene in the fourth quarter valued at $26,000. Ameriflex Group Inc. purchased a new stake in Centene during the fourth quarter valued at about $26,000. Rialto Wealth Management LLC purchased a new position in shares of Centene in the 4th quarter worth about $30,000. Finally, Studio Investment Management LLC acquired a new position in shares of Centene in the 4th quarter valued at about $32,000. 93.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CNC has been the topic of several research reports. Robert W. Baird cut their price target 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. Barclays cut their price objective on Centene from $65.00 to $45.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 2nd. Bank of America lowered their target price on Centene from $65.00 to $52.00 and set a "neutral" rating for the company in a research note on Wednesday, July 2nd. Guggenheim restated a "neutral" rating on shares of Centene in a research note on Tuesday, April 29th. Finally, Cantor Fitzgerald dropped their price target on shares of Centene from $90.00 to $65.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 2nd. Ten analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Centene presently has an average rating of "Hold" and a consensus target price of $68.87.

Centene Stock Performance

Shares of CNC traded down $0.25 during mid-day trading on Monday, reaching $33.06. 22,961,875 shares of the company's stock traded hands, compared to its average volume of 5,527,614. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.11 and a current ratio of 1.11. The business's 50-day moving average price is $55.93 and its 200-day moving average price is $59.04. The stock has a market capitalization of $16.45 billion, a P/E ratio of 4.93, a price-to-earnings-growth ratio of 0.45 and a beta of 0.44. Centene Corporation has a 12 month low of $33.00 and a 12 month high of $80.59.

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

Centene Company 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.