Raiffeisen Bank International AG purchased a new stake in shares of Centene Co. (NYSE:CNC - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,422 shares of the company's stock, valued at approximately $388,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. grew its position in Centene by 3.8% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 33,092 shares of the company's stock worth $2,005,000 after acquiring an additional 1,220 shares during the last quarter. Prana Capital Management LP purchased a new stake in shares of Centene during the fourth quarter valued at approximately $555,000. ProShare Advisors LLC increased its stake in shares of Centene by 5.9% in the fourth quarter. ProShare Advisors LLC now owns 98,642 shares of the company's stock worth $5,976,000 after buying an additional 5,536 shares during the period. Prosight Management LP bought a new stake in Centene during the 4th quarter valued at $3,332,000. Finally, Mufg Securities Americas Inc. purchased a new stake in Centene during the 4th quarter valued at $452,000. 93.63% of the stock is owned by institutional investors.
Centene Stock Down 3.8%
Centene stock traded down $2.21 on Friday, hitting $55.86. 1,925,130 shares of the stock traded hands, compared to its average volume of 4,780,546. Centene Co. has a 1 year low of $55.03 and a 1 year high of $80.59. The firm has a market cap of $27.80 billion, a P/E ratio of 8.95, a price-to-earnings-growth ratio of 0.80 and a beta of 0.48. The company has a current ratio of 1.11, a quick ratio of 1.10 and a debt-to-equity ratio of 0.70. The business's fifty day simple moving average is $60.83 and its 200 day simple moving average is $60.40.
Centene (NYSE:CNC - Get Free Report) last issued 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 company had revenue of $46.62 billion during the quarter, compared to analysts' expectations of $43.16 billion. Centene had a net margin of 2.03% and a return on equity of 13.85%. Centene's revenue was up 15.4% on a year-over-year basis. During the same period last year, the company posted $2.26 EPS. As a group, sell-side analysts forecast that Centene Co. will post 6.86 earnings per share for the current year.
Analyst Ratings Changes
A number of equities analysts have issued reports on CNC shares. Guggenheim restated a "neutral" rating on shares of Centene in a research report on Tuesday, April 29th. Barclays reduced their price target on Centene from $93.00 to $84.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Wall Street Zen cut Centene from a "strong-buy" rating to a "buy" rating in a report on Monday, April 28th. 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. Finally, Wells Fargo & Company dropped their price target on Centene from $76.00 to $72.00 and set an "overweight" rating for the company in a research note on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $79.77.
Check Out Our Latest Report on Centene
About Centene
(
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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