Evolve Private Wealth LLC bought a new position in Centene Corporation (NYSE:CNC - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 42,698 shares of the company's stock, valued at approximately $2,741,000.
A number of other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of Centene in the 2nd quarter valued at approximately $2,660,422,000. AQR Capital Management LLC boosted its holdings in shares of Centene by 117.0% in the fourth quarter. AQR Capital Management LLC now owns 31,798,738 shares of the company's stock valued at $1,308,518,000 after purchasing an additional 17,143,904 shares during the period. Norges Bank bought a new stake in Centene during the 4th quarter valued at $332,044,000. Deerfield Management Company L.P. increased its stake in shares of Centene by 184.0% during the third quarter. Deerfield Management Company L.P. now owns 9,046,000 shares of the company's stock valued at $322,761,000 after buying an additional 5,860,630 shares during the period. Finally, Deutsche Bank AG bought a new position in Centene during the 2nd quarter worth about $257,279,000. Institutional investors own 93.63% of the company's stock.
Analyst Ratings Changes
A number of analysts have weighed in on CNC shares. Argus upgraded Centene from a "hold" rating to a "buy" rating and set a $80.00 target price for the company in a report on Tuesday, August 11th. Robert W. Baird raised their price objective on Centene from $46.00 to $66.00 and gave the company a "neutral" rating in a research report on Wednesday, July 29th. Barclays reiterated an "overweight" rating and issued a $80.00 target price (up from $75.00) on shares of Centene in a report on Wednesday, July 29th. Royal Bank Of Canada raised their price target on shares of Centene from $70.00 to $71.00 and gave the company a "sector perform" rating in a report on Thursday, July 9th. Finally, Truist Financial boosted their price objective on shares of Centene from $71.00 to $78.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $70.05.
Read Our Latest Analysis on Centene
Centene Stock Up 1.2%
Centene stock opened at $64.94 on Friday. The business's 50-day simple moving average is $64.96 and its two-hundred day simple moving average is $52.40. The company has a market cap of $32.08 billion, a PE ratio of -6.22, a PEG ratio of 0.35 and a beta of 1.08. Centene Corporation has a fifty-two week low of $28.24 and a fifty-two week high of $69.36. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.15 and a current ratio of 1.15.
Centene (NYSE:CNC - Get Free Report) last released its quarterly earnings data on Monday, July 27th. The company reported $2.51 earnings per share for the quarter, beating analysts' consensus estimates of $1.09 by $1.42. Centene had a positive return on equity of 12.12% and a negative net margin of 2.51%.The business had revenue of $53.58 billion during the quarter, compared to analyst estimates of $47.64 billion. During the same quarter last year, the business posted ($0.16) EPS. The company's revenue was up 9.9% on a year-over-year basis. Equities analysts anticipate that Centene Corporation will post 4.89 EPS for the current year.
Insider Transactions at Centene
In other Centene news, General Counsel Christopher Koster sold 47,603 shares of the company's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $65.36, for a total transaction of $3,111,332.08. Following the completion of the transaction, the general counsel owned 305,354 shares in the company, valued at approximately $19,957,937.44. This represents a 13.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.37% of the company's stock.
Centene Profile
(
Free Report)
Centene Corporation NYSE: CNC is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children's Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.
Centene's offerings extend beyond traditional insurance to include a range of specialty and support services.
Further Reading
Want to see what other hedge funds are holding CNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Centene Corporation (NYSE:CNC - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Centene, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Centene wasn't on the list.
While Centene currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The AI wave will soon hit public markets with Anthropic and OpenAI set to go public later this year. However, you don't have to wait to invest. This report shows seven AI stocks that you can buy today while the big model providers get ready to go public.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
