Swedbank AB raised its stake in shares of Centene Corporation (NYSE:CNC - Free Report) by 2.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,540,662 shares of the company's stock after acquiring an additional 39,830 shares during the period. Swedbank AB owned approximately 0.31% of Centene worth $63,398,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CNC. Addison Advisors LLC raised its position in Centene by 455.6% in the third quarter. Addison Advisors LLC now owns 739 shares of the company's stock valued at $26,000 after purchasing an additional 606 shares during the period. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Centene in the third quarter valued at approximately $27,000. SBI Securities Co. Ltd. raised its position in Centene by 118.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 749 shares of the company's stock valued at $31,000 after purchasing an additional 406 shares during the period. WPG Advisers LLC raised its position in Centene by 44.5% in the third quarter. WPG Advisers LLC now owns 915 shares of the company's stock valued at $33,000 after purchasing an additional 282 shares during the period. Finally, Bogart Wealth LLC raised its position in Centene by 11,011.1% in the third quarter. Bogart Wealth LLC now owns 1,000 shares of the company's stock valued at $36,000 after purchasing an additional 991 shares during the period. Hedge funds and other institutional investors own 93.63% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on the company. Wall Street Zen raised Centene from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. The Goldman Sachs Group reissued a "sell" rating and issued a $40.00 target price on shares of Centene in a research report on Wednesday, April 29th. Morgan Stanley boosted their target price on Centene from $45.00 to $50.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 29th. Wells Fargo & Company boosted their target price on Centene from $44.00 to $56.00 and gave the company an "equal weight" rating in a research report on Friday, May 1st. Finally, UBS Group boosted their price target on shares of Centene from $42.00 to $55.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 29th. Six investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Centene currently has a consensus rating of "Hold" and a consensus price target of $53.82.
Check Out Our Latest Report on CNC
Centene Stock Performance
Shares of CNC stock opened at $55.30 on Thursday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.76. The firm has a fifty day moving average price of $39.34 and a 200 day moving average price of $39.75. The company has a market cap of $27.31 billion, a P/E ratio of -4.21, a PEG ratio of 1.02 and a beta of 1.06. Centene Corporation has a 12 month low of $25.08 and a 12 month high of $64.15.
Centene (NYSE:CNC - Get Free Report) last issued its earnings results on Tuesday, April 28th. The company reported $3.37 EPS for the quarter, topping analysts' consensus estimates of $2.23 by $1.14. The firm had revenue of $49.94 billion during the quarter, compared to the consensus estimate of $47.53 billion. Centene had a negative net margin of 3.25% and a positive return on equity of 5.57%. The company's revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.90 earnings per share. Sell-side analysts predict that Centene Corporation will post 3.46 earnings per share for the current fiscal year.
Centene Company Profile
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Free Report)
Centene Corporation NYSE: CNC is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children's Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.
Centene's offerings extend beyond traditional insurance to include a range of specialty and support services.
See Also
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