Centene Corporation (NYSE:CNC) Shares Purchased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. raised its position in Centene Corporation (NYSE:CNC - Free Report) by 16.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 181,648 shares of the company's stock after acquiring an additional 26,282 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Centene were worth $11,028,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Atria Wealth Solutions Inc. boosted its position in 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 acquiring an additional 1,842 shares in the last quarter. Howard Capital Management Inc. lifted its position in Centene by 5.4% during the fourth quarter. Howard Capital Management Inc. now owns 3,591 shares of the company's stock valued at $218,000 after buying an additional 184 shares during the period. Capital Advisors Ltd. LLC increased its stake in shares of Centene by 75.3% in the 4th quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company's stock worth $25,000 after acquiring an additional 177 shares in the last quarter. Impax Asset Management Group plc increased its stake in shares of Centene by 60.1% during the fourth quarter. Impax Asset Management Group plc now owns 15,212 shares of the company's stock valued at $922,000 after purchasing an additional 5,712 shares in the last quarter. Finally, Allegiance Financial Group Advisory Services LLC purchased a new stake in shares of Centene in the 4th quarter worth approximately $258,000. 93.63% of the stock is currently owned by hedge funds and other institutional investors.

Centene Trading Up 1.2%

Shares of CNC stock traded up $0.62 during trading hours on Tuesday, hitting $54.02. The company had a trading volume of 4,207,283 shares, compared to its average volume of 4,757,861. Centene Corporation has a fifty-two week low of $52.93 and a fifty-two week high of $80.59. The company's fifty day moving average is $58.30 and its 200 day moving average is $59.73. The stock has a market capitalization of $26.88 billion, a PE ratio of 8.05, a price-to-earnings-growth ratio of 0.65 and a beta of 0.45. 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 (NYSE:CNC - Get Free Report) last issued its earnings results on Friday, April 25th. The company reported $2.90 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.38. The business had revenue of $46.62 billion for the quarter, compared to analyst estimates of $43.16 billion. Centene had a return on equity of 14.56% and a net margin of 2.04%. The business's quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter last year, the company earned $2.26 EPS. Research analysts expect that Centene Corporation will post 6.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CNC. Barclays reiterated an "equal weight" rating and issued a $65.00 price target (down previously from $84.00) on shares of Centene in a research note on Monday, June 2nd. Robert W. Baird decreased their price target on Centene from $71.00 to $69.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Guggenheim reissued a "neutral" rating on shares of Centene in a report on Tuesday, April 29th. Morgan Stanley assumed coverage on Centene in a report on Monday, June 9th. They issued an "overweight" rating and a $70.00 price objective for the company. Finally, Jefferies Financial Group cut their target price 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. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $77.71.

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.