8,661 Shares in Centene Corporation $CNC Purchased by Elevated Financial Group LLC

Elevated Financial Group LLC bought a new position in shares of Centene Corporation (NYSE:CNC) in the third quarter, Holdings Channel reports. The firm bought 8,661 shares of the company’s stock, valued at approximately $538,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CNC. Frank Rimerman Advisors LLC lifted its stake in shares of Centene by 3.7% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 4,521 shares of the company’s stock valued at $281,000 after purchasing an additional 163 shares during the period. Journey Retirement Planning & Investment Management LLC boosted its position in shares of Centene by 3.9% in the 3rd quarter. Journey Retirement Planning & Investment Management LLC now owns 4,652 shares of the company’s stock worth $289,000 after purchasing an additional 175 shares during the last quarter. 180 Wealth Advisors LLC boosted its position in shares of Centene by 3.1% in the 1st quarter. 180 Wealth Advisors LLC now owns 6,683 shares of the company’s stock worth $219,000 after purchasing an additional 199 shares during the last quarter. Grove Bank & Trust grew its stake in shares of Centene by 2.0% during the third quarter. Grove Bank & Trust now owns 11,294 shares of the company’s stock worth $702,000 after purchasing an additional 220 shares during the period. Finally, GoalVest Advisory LLC grew its stake in shares of Centene by 25.9% during the third quarter. GoalVest Advisory LLC now owns 1,122 shares of the company’s stock worth $70,000 after purchasing an additional 231 shares during the period. Institutional investors own 93.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CNC. Zacks Research downgraded Centene from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Barclays restated an “overweight” rating and set a $80.00 target price (up from $75.00) on shares of Centene in a research report on Wednesday, July 29th. Truist Financial upped their price target on Centene from $71.00 to $78.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Royal Bank Of Canada increased their price target on shares of Centene from $70.00 to $71.00 and gave the company a “sector perform” rating in a research report on Thursday, July 9th. Finally, Morgan Stanley set a $66.00 price target on shares of Centene in a research report on Wednesday, July 29th. Nine research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $70.05.

Centene Trading Down 1.8%

Shares of NYSE CNC opened at $69.27 on Friday. Centene Corporation has a twelve month low of $31.63 and a twelve month high of $71.21. The stock has a market cap of $34.22 billion, a price-to-earnings ratio of -6.64, a P/E/G ratio of 0.44 and a beta of 1.13. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.71. The company’s fifty day moving average is $65.41 and its 200-day moving average is $59.67.

Centene (NYSE:CNC) last released its quarterly earnings data on Monday, July 27th. The company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $1.42. Centene had a negative net margin of 2.51% and a positive return on equity of 12.12%. The business had revenue of $53.58 billion during the quarter, compared to analysts’ expectations of $47.64 billion. During the same quarter in the prior year, the company earned ($0.16) EPS. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. Equities research analysts predict that Centene Corporation will post 4.89 EPS for the current year.

Insiders Place Their Bets

In other Centene news, General Counsel Christopher Koster sold 56,500 shares of the business’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $66.90, for a total value of $3,779,850.00. Following the completion of the transaction, the general counsel directly owned 248,854 shares of the company’s stock, valued at approximately $16,648,332.60. The trade was a 18.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.37% of the company’s stock.

Centene Company Profile

Centene Corporation (NYSE:CNC) is a healthcare enterprise that provides health insurance and related services, primarily through government-sponsored programs. Its offerings include Medicaid plans, Medicare products, health plans sold through the Affordable Care Act marketplace, and services for military families through government-sponsored healthcare programs.

The company also provides pharmacy, behavioral health, specialty healthcare, care management and administrative services through various subsidiaries and partner organizations.