Wealth Enhancement Advisory Services LLC Has $8.27 Million Stake in Centene Corporation (NYSE:CNC)

Wealth Enhancement Advisory Services LLC raised its stake in Centene Corporation (NYSE:CNC - Free Report) by 49.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 136,178 shares of the company's stock after purchasing an additional 45,163 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Centene were worth $8,267,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Capital Advisors Ltd. LLC boosted its stake in shares of Centene by 75.3% in the 4th quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company's stock worth $25,000 after buying an additional 177 shares during the last quarter. Pinney & Scofield Inc. bought a new stake in Centene during the fourth quarter worth $25,000. Hurley Capital LLC purchased a new position in Centene in the fourth quarter worth $26,000. Ameriflex Group Inc. bought a new position in Centene in the 4th quarter valued at $26,000. Finally, Rialto Wealth Management LLC purchased a new stake in shares of Centene during the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 93.63% of the company's stock.

Centene Stock Down 1.8%

Shares of CNC opened at $53.44 on Tuesday. The firm has a market capitalization of $26.59 billion, a P/E ratio of 7.96, a P/E/G ratio of 0.65 and a beta of 0.45. Centene Corporation has a 12-month low of $52.93 and a 12-month high of $80.59. The firm has a fifty day moving average price of $58.30 and a 200-day moving average price of $59.73. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.65.

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CNC shares. Robert W. Baird reduced their target price on shares of Centene from $71.00 to $69.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Guggenheim reissued a "neutral" rating on shares of Centene in a report on Tuesday, April 29th. Morgan Stanley assumed coverage on Centene in a research report on Monday, June 9th. They issued an "overweight" rating and a $70.00 target price for the company. Wall Street Zen cut Centene from a "strong-buy" rating to a "buy" rating in a research report on Monday, April 28th. Finally, Barclays reissued an "equal weight" rating and issued a $65.00 price objective (down previously from $84.00) on shares of Centene in a report on Monday, June 2nd. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Centene currently has an average rating of "Moderate Buy" and a consensus target price 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.

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