Oppenheimer Asset Management Inc. Increases Holdings in Centene Corporation (NYSE:CNC)

Oppenheimer Asset Management Inc. lifted its position in shares of Centene Corporation (NYSE:CNC - Free Report) by 16.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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.

Other hedge funds have also recently bought and sold shares of the company. Captrust Financial Advisors grew its holdings in Centene by 55.6% in the fourth quarter. Captrust Financial Advisors now owns 45,103 shares of the company's stock valued at $2,732,000 after purchasing an additional 16,108 shares during the last quarter. Diametric Capital LP acquired a new stake in Centene in the 4th quarter valued at about $610,000. LPL Financial LLC increased its holdings in Centene by 85.6% during the 4th quarter. LPL Financial LLC now owns 216,928 shares of the company's stock valued at $13,142,000 after acquiring an additional 100,039 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Centene by 32.3% in the first quarter. Farther Finance Advisors LLC now owns 6,333 shares of the company's stock valued at $383,000 after purchasing an additional 1,546 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of Centene by 41.4% during the 4th quarter. BNP Paribas Financial Markets now owns 925,150 shares of the company's stock worth $56,046,000 after purchasing an additional 270,899 shares in the last quarter. 93.63% of the stock is owned by hedge funds and other institutional investors.

Centene Trading Up 0.8%

Shares of NYSE CNC traded up $0.41 during trading on Friday, hitting $53.98. 5,925,766 shares of the company traded hands, compared to its average volume of 4,961,663. The firm has a market capitalization of $26.86 billion, a P/E ratio of 8.04, a P/E/G ratio of 0.64 and a beta of 0.45. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.65. The company has a 50-day moving average price of $57.83 and a 200-day moving average price of $59.62. Centene Corporation has a 1 year low of $52.93 and a 1 year high of $80.59.

Centene (NYSE:CNC - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The company reported $2.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.52 by $0.38. The firm had revenue of $46.62 billion during the quarter, compared to the consensus estimate of $43.16 billion. Centene had a return on equity of 14.56% and a net margin of 2.04%. The firm's quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.26 earnings per share. On average, equities analysts predict that Centene Corporation will post 6.86 EPS for the current year.

Wall Street Analyst Weigh In

CNC has been the topic of a number of recent research reports. Jefferies Financial Group reduced their target price on Centene from $64.00 to $61.00 and set a "hold" rating on the stock in a research note on Tuesday, April 29th. Wall Street Zen downgraded Centene from a "strong-buy" rating to a "buy" rating in a research report on Monday, April 28th. Robert W. Baird cut their target price on shares of Centene from $71.00 to $69.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Morgan Stanley initiated coverage on shares of Centene in a report on Monday, June 9th. They set an "overweight" rating and a $70.00 price target for the company. Finally, Barclays restated an "equal weight" rating and set a $65.00 target price (down previously from $84.00) on shares of Centene in a research report on Monday, June 2nd. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, 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.