Graphene Investments SAS Sells 5,900 Shares of Centene Corporation (NYSE:CNC)

Graphene Investments SAS decreased its position in shares of Centene Corporation (NYSE:CNC - Free Report) by 11.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 45,700 shares of the company's stock after selling 5,900 shares during the quarter. Centene comprises approximately 2.0% of Graphene Investments SAS's investment portfolio, making the stock its 27th largest position. Graphene Investments SAS's holdings in Centene were worth $2,774,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CNC. Atria Wealth Solutions Inc. boosted its position in shares of Centene by 23.4% during the 4th quarter. Atria Wealth Solutions Inc. now owns 9,710 shares of the company's stock valued at $588,000 after purchasing an additional 1,842 shares in the last quarter. Allegiance Financial Group Advisory Services LLC acquired a new position in shares of Centene during the fourth quarter worth approximately $258,000. Mn Services Vermogensbeheer B.V. lifted its holdings in shares of Centene by 1.7% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 208,300 shares of the company's stock worth $12,619,000 after purchasing an additional 3,400 shares in the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co grew its position in Centene by 22.7% in the 4th quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 3,851 shares of the company's stock valued at $233,000 after purchasing an additional 712 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its stake in Centene by 33.2% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 155,366 shares of the company's stock valued at $9,412,000 after purchasing an additional 38,732 shares in the last quarter. Institutional investors and hedge funds own 93.63% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CNC shares. Guggenheim reiterated a "neutral" rating on shares of Centene in a report on Tuesday, April 29th. Wall Street Zen lowered Centene from a "strong-buy" rating to a "buy" rating in a report on Monday, April 28th. Morgan Stanley initiated coverage on Centene in a report on Monday, June 9th. They issued an "overweight" rating and a $70.00 target price on the stock. Jefferies Financial Group cut their target price on Centene from $64.00 to $61.00 and set a "hold" rating on the stock in a research report on Tuesday, April 29th. Finally, Robert W. Baird dropped their price objective on Centene from $71.00 to $69.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $77.71.

Centene Stock Performance

Shares of CNC stock opened at $53.54 on Friday. Centene Corporation has a 52 week low of $52.93 and a 52 week high of $80.59. The firm's 50-day simple moving average is $57.83 and its two-hundred day simple moving average is $59.62. The firm has a market cap of $26.64 billion, a price-to-earnings ratio of 7.98, a P/E/G ratio of 0.64 and a beta of 0.45. 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 posted its quarterly earnings data on Friday, April 25th. The company reported $2.90 EPS for the quarter, beating the consensus estimate of $2.52 by $0.38. Centene had a return on equity of 14.56% and a net margin of 2.04%. The business had revenue of $46.62 billion for the quarter, compared to the consensus estimate of $43.16 billion. During the same quarter in the prior year, the business earned $2.26 earnings per share. Centene's revenue for the quarter was up 15.4% on a year-over-year basis. As a group, equities analysts forecast that Centene Corporation will post 6.86 earnings per share for the current year.

Centene 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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