Krilogy Financial LLC Sells 20,976 Shares of Centene Corporation $CNC

Krilogy Financial LLC cut its holdings in Centene Corporation (NYSE:CNC) by 23.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,021 shares of the company’s stock after selling 20,976 shares during the quarter. Krilogy Financial LLC’s holdings in Centene were worth $2,194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Centene by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 56,978,753 shares of the company’s stock valued at $2,344,676,000 after buying an additional 190,334 shares during the period. AQR Capital Management LLC lifted its stake in Centene by 117.0% in the fourth quarter. AQR Capital Management LLC now owns 31,798,738 shares of the company’s stock worth $1,308,518,000 after acquiring an additional 17,143,904 shares during the period. Geode Capital Management LLC boosted its holdings in Centene by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 13,271,492 shares of the company’s stock valued at $554,338,000 after acquiring an additional 697,277 shares in the last quarter. Deerfield Management Company L.P. increased its position in Centene by 184.0% during the 3rd quarter. Deerfield Management Company L.P. now owns 9,046,000 shares of the company’s stock valued at $322,761,000 after purchasing an additional 5,860,630 shares during the period. Finally, Morgan Stanley raised its holdings in Centene by 7.2% in the 4th quarter. Morgan Stanley now owns 9,002,570 shares of the company’s stock worth $370,456,000 after purchasing an additional 603,585 shares in the last quarter. Institutional investors own 93.63% of the company’s stock.

Centene Stock Down 0.4%

Shares of Centene stock opened at $62.90 on Thursday. Centene Corporation has a 1 year low of $25.08 and a 1 year high of $66.55. The firm has a market cap of $31.06 billion, a price-to-earnings ratio of -4.79, a PEG ratio of 0.49 and a beta of 1.09. The company has a 50-day moving average of $55.55 and a 200 day moving average of $45.67. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.12 and a quick ratio of 1.12.

Centene (NYSE:CNC) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $3.37 EPS for the quarter, topping the consensus estimate of $2.23 by $1.14. Centene had a negative net margin of 3.25% and a positive return on equity of 5.57%. The business had revenue of $49.94 billion for the quarter, compared to analyst estimates of $47.53 billion. During the same quarter in the previous year, the firm posted $2.90 earnings per share. Centene’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Centene Corporation will post 3.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CNC shares. Wall Street Zen raised shares of Centene from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. JPMorgan Chase & Co. raised their price objective on shares of Centene from $52.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, June 8th. Mizuho set a $63.00 price objective on Centene and gave the company a “neutral” rating in a research report on Monday, June 8th. Zacks Research upgraded Centene from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft upgraded Centene from a “hold” rating to a “buy” rating and raised their target price for the company from $53.00 to $80.00 in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $60.78.

Centene Company Profile

Centene Corporation (NYSE: CNC) is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children’s Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.

Centene’s offerings extend beyond traditional insurance to include a range of specialty and support services.