Calamos Advisors LLC Sells 4,329 Shares of Centene Co. (NYSE:CNC)

Calamos Advisors LLC reduced its stake in Centene Co. (NYSE:CNC) by 3.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 118,598 shares of the company’s stock after selling 4,329 shares during the quarter. Calamos Advisors LLC’s holdings in Centene were worth $7,863,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of CNC. Rise Advisors LLC purchased a new position in shares of Centene during the 1st quarter valued at about $25,000. Riverview Trust Co lifted its holdings in Centene by 154.6% during the second quarter. Riverview Trust Co now owns 527 shares of the company’s stock valued at $35,000 after purchasing an additional 320 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Centene in the second quarter worth $36,000. Neo Ivy Capital Management bought a new stake in shares of Centene during the 4th quarter valued at $40,000. Finally, Versant Capital Management Inc lifted its stake in shares of Centene by 265.3% during the 2nd quarter. Versant Capital Management Inc now owns 632 shares of the company’s stock valued at $42,000 after buying an additional 459 shares in the last quarter. 93.63% of the stock is currently owned by hedge funds and other institutional investors.

Centene Trading Up 0.4 %

CNC stock traded up $0.32 during midday trading on Friday, reaching $78.55. 2,123,166 shares of the company traded hands, compared to its average volume of 3,459,605. The firm has a market capitalization of $41.92 billion, a price-to-earnings ratio of 15.62, a P/E/G ratio of 1.00 and a beta of 0.50. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.17 and a current ratio of 1.17. The business has a 50 day moving average of $71.02 and a 200-day moving average of $73.86. Centene Co. has a 52-week low of $60.83 and a 52-week high of $81.42.

Centene (NYSE:CNC) last issued its quarterly earnings results on Friday, July 26th. The company reported $2.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.02). Centene had a return on equity of 14.45% and a net margin of 1.79%. The company had revenue of $39.84 billion during the quarter, compared to the consensus estimate of $36.83 billion. During the same quarter in the prior year, the business earned $2.10 earnings per share. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. As a group, sell-side analysts expect that Centene Co. will post 6.84 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on CNC shares. Robert W. Baird began coverage on Centene in a report on Thursday, May 30th. They set a “neutral” rating and a $83.00 price target on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on Centene from $82.00 to $87.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Truist Financial reduced their price objective on shares of Centene from $92.00 to $89.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Baird R W upgraded shares of Centene to a “hold” rating in a research report on Thursday, May 30th. Finally, Oppenheimer reduced their price target on shares of Centene from $110.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, July 29th. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

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.