Centene Co. (NYSE:CNC) Stock Position Cut by Visionary Wealth Advisors

Visionary Wealth Advisors cut its stake in Centene Co. (NYSE:CNC - Free Report) by 41.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,173 shares of the company's stock after selling 10,866 shares during the period. Visionary Wealth Advisors' holdings in Centene were worth $919,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Osborne Partners Capital Management LLC grew its stake in shares of Centene by 5.0% in the fourth quarter. Osborne Partners Capital Management LLC now owns 221,156 shares of the company's stock worth $13,398,000 after purchasing an additional 10,515 shares during the last quarter. Perpetual Ltd lifted its holdings in Centene by 68.4% during the fourth quarter. Perpetual Ltd now owns 36,126 shares of the company's stock valued at $2,189,000 after purchasing an additional 14,671 shares in the last quarter. KBC Group NV lifted its holdings in Centene by 27.3% in the 4th quarter. KBC Group NV now owns 1,602,533 shares of the company's stock worth $97,082,000 after purchasing an additional 343,559 shares in the last quarter. Washington Capital Management Inc. boosted its stake in Centene by 40.9% during the fourth quarter. Washington Capital Management Inc. now owns 19,130 shares of the company's stock valued at $1,159,000 after buying an additional 5,550 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. purchased a new position in shares of Centene in the 4th quarter worth $1,272,000. Hedge funds and other institutional investors own 93.63% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CNC shares. Barclays lowered their target price on shares of Centene from $93.00 to $84.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Jefferies Financial Group reduced their price target on shares of Centene from $64.00 to $61.00 and set a "hold" rating for the company in a report on Tuesday, April 29th. Robert W. Baird dropped their target price on Centene from $71.00 to $69.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Wells Fargo & Company reduced their target price on shares of Centene from $76.00 to $72.00 and set an "overweight" rating for the company in a report on Friday, February 14th. Finally, Guggenheim reaffirmed a "neutral" rating on shares of Centene in a research report on Tuesday, April 29th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $79.77.

Centene Stock Down 2.8%

CNC stock traded down $1.65 during trading on Monday, hitting $56.43. 5,205,572 shares of the company's stock were exchanged, compared to its average volume of 4,894,312. 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 has a 50-day moving average price of $60.76 and a two-hundred day moving average price of $60.31. The stock has a market capitalization of $28.08 billion, a price-to-earnings ratio of 9.04, a PEG ratio of 0.80 and a beta of 0.48. Centene Co. has a 52-week low of $55.03 and a 52-week high of $80.59.

Centene (NYSE:CNC - Get Free Report) last announced its earnings results on Friday, April 25th. The company reported $2.90 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.38. The company had revenue of $46.62 billion for the quarter, compared to the consensus estimate of $43.16 billion. Centene had a return on equity of 13.85% and a net margin of 2.03%. The company's revenue was up 15.4% on a year-over-year basis. During the same period last year, the business posted $2.26 EPS. As a group, equities research analysts expect that Centene Co. will post 6.86 EPS for the current year.

About Centene

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.