Lecap Asset Management Ltd. acquired a new stake in shares of Centene Corporation (NYSE:CNC - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 13,656 shares of the company's stock, valued at approximately $829,000.
Other hedge funds have also recently made changes to their positions in the company. Edmp Inc. increased its position in shares of Centene by 59.7% in the first quarter. Edmp Inc. now owns 6,369 shares of the company's stock valued at $387,000 after acquiring an additional 2,382 shares during the period. Asset Management One Co. Ltd. increased its position in Centene by 15.6% during the 1st quarter. Asset Management One Co. Ltd. now owns 232,044 shares of the company's stock valued at $14,087,000 after buying an additional 31,319 shares in the last quarter. Scharf Investments LLC raised its position in shares of Centene by 20.3% in the 1st quarter. Scharf Investments LLC now owns 2,395,448 shares of the company's stock worth $145,428,000 after purchasing an additional 404,067 shares during the last quarter. Oppenheimer & Co. Inc. grew its holdings in shares of Centene by 2.5% during the first quarter. Oppenheimer & Co. Inc. now owns 19,567 shares of the company's stock valued at $1,188,000 after buying an additional 481 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its stake in shares of Centene by 16.9% in the first quarter. Oppenheimer Asset Management Inc. now owns 181,648 shares of the company's stock worth $11,028,000 after purchasing an additional 26,282 shares during the last quarter. 93.63% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
CNC has been the subject of a number of recent research reports. Jefferies Financial Group cut their price objective on shares of Centene from $64.00 to $61.00 and set a "hold" rating for the company in a research report on Tuesday, April 29th. Barclays reissued an "equal weight" rating and set a $65.00 price target (down from $84.00) on shares of Centene in a research note on Monday, June 2nd. Robert W. Baird reduced their target price 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. Guggenheim reiterated a "neutral" rating on shares of Centene in a report on Tuesday, April 29th. Finally, Morgan Stanley initiated coverage on Centene in a research note on Monday, June 9th. They issued an "overweight" rating and a $70.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Centene currently has a consensus rating of "Moderate Buy" and an average price target of $77.71.
Check Out Our Latest Analysis on CNC
Centene Stock Performance
Shares of CNC stock traded up $0.41 during trading hours on Friday, reaching $53.98. 5,925,767 shares of the company's stock were exchanged, compared to its average volume of 4,971,586. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.11 and a quick ratio of 1.11. Centene Corporation has a 1 year low of $52.93 and a 1 year high of $80.59. The company has a market cap of $26.86 billion, a P/E ratio of 8.04, a price-to-earnings-growth ratio of 0.64 and a beta of 0.45. The company's 50 day moving average is $57.83 and its two-hundred day moving average is $59.62.
Centene (NYSE:CNC - Get Free Report) last posted its quarterly earnings data 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. Centene had a net margin of 2.04% and a return on equity of 14.56%. The business had revenue of $46.62 billion during the quarter, compared to analyst estimates of $43.16 billion. During the same quarter in the previous year, the business posted $2.26 earnings per share. The company's revenue was up 15.4% on a year-over-year basis. Equities research analysts anticipate that Centene Corporation will post 6.86 EPS for the current fiscal year.
Centene Company Profile
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Free Report)
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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