TD Asset Management Inc Purchases 17,125 Shares of Centene Corporation (NYSE:CNC)

TD Asset Management Inc boosted its position in shares of Centene Corporation (NYSE:CNC - Free Report) by 5.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 347,919 shares of the company's stock after purchasing an additional 17,125 shares during the period. TD Asset Management Inc owned 0.07% of Centene worth $21,122,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Ameriflex Group Inc. bought a new position in shares of Centene in the fourth quarter worth about $26,000. Pinney & Scofield Inc. bought a new position in shares of Centene in the fourth quarter worth about $25,000. Hurley Capital LLC bought a new position in Centene during the fourth quarter valued at about $26,000. Studio Investment Management LLC bought a new position in Centene during the fourth quarter valued at about $32,000. Finally, Golden State Wealth Management LLC increased its stake in Centene by 203.1% during the first quarter. Golden State Wealth Management LLC now owns 579 shares of the company's stock valued at $35,000 after acquiring an additional 388 shares during the period. Institutional investors and hedge funds own 93.63% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CNC shares. UBS Group lowered their price target on Centene from $45.00 to $31.00 and set a "neutral" rating on the stock in a research note on Monday, July 28th. Truist Financial lowered their price objective on Centene from $42.00 to $35.00 and set a "buy" rating on the stock in a research note on Monday, July 28th. Oppenheimer lowered their price objective on Centene from $51.00 to $43.00 and set an "outperform" rating on the stock in a research note on Monday, July 28th. Bank of America lowered Centene from a "neutral" rating to an "underperform" rating and lowered their price objective for the company from $52.00 to $30.00 in a research note on Wednesday, July 16th. Finally, TD Cowen reiterated a "hold" rating and issued a $33.00 price objective (down from $73.00) on shares of Centene in a research note on Monday, July 21st. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Centene currently has a consensus rating of "Hold" and a consensus target price of $45.31.

Centene Trading Down 0.6%

Shares of CNC traded down $0.15 during trading hours on Friday, reaching $25.92. The stock had a trading volume of 17,527,511 shares, compared to its average volume of 21,992,306. The company has a quick ratio of 1.11, a current ratio of 1.10 and a debt-to-equity ratio of 0.64. Centene Corporation has a 52 week low of $25.11 and a 52 week high of $80.59. The firm has a 50-day moving average of $43.39 and a 200 day moving average of $54.59. The company has a market cap of $12.73 billion, a P/E ratio of 6.42, a P/E/G ratio of 1.07 and a beta of 0.44.

Centene (NYSE:CNC - Get Free Report) last released its earnings results on Friday, July 25th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.23 by ($0.39). The firm had revenue of $48.74 billion for the quarter, compared to the consensus estimate of $44.71 billion. Centene had a return on equity of 9.57% and a net margin of 1.15%. Centene's revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter last year, the company posted $2.42 EPS. On average, sell-side analysts expect that Centene Corporation will post 6.86 earnings per share for the current fiscal year.

Insider Transactions at Centene

In other news, Director Theodore R. Samuels II bought 9,000 shares of the business's stock in a transaction that occurred on Monday, July 28th. The stock was acquired at an average cost of $27.62 per share, for a total transaction of $248,580.00. Following the purchase, the director owned 32,000 shares of the company's stock, valued at approximately $883,840. This trade represents a 39.13% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.36% of the company's stock.

Centene 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.