Centene Corporation (NYSE:CNC) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its position in shares of Centene Corporation (NYSE:CNC - Free Report) by 54.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 372,650 shares of the company's stock after selling 451,610 shares during the period. Victory Capital Management Inc. owned approximately 0.07% of Centene worth $22,624,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CNC. Pinney & Scofield Inc. bought a new position in Centene during the 4th quarter worth $25,000. Hurley Capital LLC bought a new position in shares of Centene in the fourth quarter worth $26,000. Ameriflex Group Inc. bought a new position in shares of Centene in the fourth quarter worth $26,000. Studio Investment Management LLC bought a new position in shares of Centene in the fourth quarter worth $32,000. Finally, Golden State Wealth Management LLC grew its stake in shares of Centene by 203.1% in the first quarter. Golden State Wealth Management LLC now owns 579 shares of the company's stock worth $35,000 after purchasing an additional 388 shares in the last quarter. Hedge funds and other institutional investors own 93.63% of the company's stock.

Wall Street Analysts Forecast Growth

CNC has been the subject of a number of recent research reports. Wall Street Zen downgraded Centene from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Bank of America downgraded Centene from a "neutral" rating to an "underperform" rating and cut their price target for the stock from $52.00 to $30.00 in a research note on Wednesday, July 16th. Barclays cut their price target on Centene from $65.00 to $45.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 2nd. Morgan Stanley downgraded Centene from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $70.00 to $33.00 in a research note on Thursday, July 10th. Finally, Truist Financial lowered their price objective on Centene from $84.00 to $42.00 and set a "buy" rating on the stock in a report on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Centene presently has an average rating of "Hold" and a consensus price target of $55.13.

Centene Price Performance

CNC stock opened at $27.40 on Tuesday. The firm has a 50 day moving average price of $50.03 and a 200-day moving average price of $56.98. Centene Corporation has a 52-week low of $27.34 and a 52-week high of $80.59. The firm has a market capitalization of $13.63 billion, a price-to-earnings ratio of 4.08, a PEG ratio of 0.46 and a beta of 0.44. 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 (NYSE:CNC - Get Free Report) last released its earnings results on Friday, April 25th. The company reported $2.90 earnings per share for the quarter, beating analysts' consensus estimates 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 2.04% and a return on equity of 14.56%. Centene's revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.26 EPS. Equities research analysts forecast that Centene Corporation will post 6.86 EPS for the current fiscal 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.

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