Leavell Investment Management Inc. cut its stake in shares of Centene Corp (NYSE:CNC) by 18.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,884 shares of the company’s stock after selling 6,002 shares during the quarter. Leavell Investment Management Inc.’s holdings in Centene were worth $1,428,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of Centene by 7.8% during the fourth quarter. BlackRock Inc. now owns 18,126,716 shares of the company’s stock valued at $2,090,011,000 after acquiring an additional 1,308,641 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Centene by 15,334.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,787,010 shares of the company’s stock valued at $85,000 after acquiring an additional 9,723,601 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Centene by 6.5% during the fourth quarter. Geode Capital Management LLC now owns 2,883,859 shares of the company’s stock valued at $331,969,000 after acquiring an additional 176,124 shares in the last quarter. FMR LLC increased its holdings in shares of Centene by 2.0% during the fourth quarter. FMR LLC now owns 2,467,656 shares of the company’s stock valued at $284,522,000 after acquiring an additional 48,517 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Centene by 1.9% during the fourth quarter. Northern Trust Corp now owns 2,314,147 shares of the company’s stock valued at $266,821,000 after acquiring an additional 44,255 shares in the last quarter. Hedge funds and other institutional investors own 45.57% of the company’s stock.
Several equities analysts have recently weighed in on CNC shares. Zacks Investment Research upgraded Centene from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a report on Monday, December 31st. Credit Suisse Group reduced their price target on Centene from $76.00 to $63.00 and set a “neutral” rating for the company in a report on Friday, March 29th. Stephens started coverage on Centene in a report on Monday, January 14th. They set an “overweight” rating and a $73.50 price target for the company. Cantor Fitzgerald restated a “buy” rating and set a $83.00 price target on shares of Centene in a report on Wednesday, February 27th. Finally, Cowen reaffirmed a “buy” rating and set a $77.00 price objective on shares of Centene in a research report on Sunday, March 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $76.87.
CNC stock opened at $50.07 on Wednesday. Centene Corp has a twelve month low of $49.27 and a twelve month high of $74.49. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market cap of $21.99 billion, a PE ratio of 14.14, a P/E/G ratio of 0.94 and a beta of 1.26.
Centene (NYSE:CNC) last posted its quarterly earnings data on Tuesday, February 5th. The company reported $1.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.05. Centene had a return on equity of 14.10% and a net margin of 1.50%. The firm had revenue of $16.56 billion for the quarter, compared to analysts’ expectations of $16.38 billion. During the same period in the previous year, the firm earned $0.49 EPS. The business’s quarterly revenue was up 29.3% on a year-over-year basis. As a group, equities analysts forecast that Centene Corp will post 4.24 earnings per share for the current fiscal year.
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Centene Corporation operates as a diversified and multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. The company's Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which covers dually eligible individuals, as well as aged, blind, or disabled programs.
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