Brown Advisory Inc. acquired a new position in shares of Centene Corp (NYSE:CNC) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,739 shares of the company’s stock, valued at approximately $214,000.
Other institutional investors also recently bought and sold shares of the company. CI Investments Inc. purchased a new stake in Centene during the 1st quarter worth about $44,885,000. Stifel Financial Corp grew its holdings in Centene by 35.9% in the 1st quarter. Stifel Financial Corp now owns 47,597 shares of the company’s stock valued at $5,084,000 after buying an additional 12,563 shares during the period. Iguana Healthcare Management LLC purchased a new stake in Centene in the 1st quarter valued at about $3,206,000. Greenleaf Trust purchased a new stake in Centene in the 2nd quarter valued at about $301,000. Finally, Schwab Charles Investment Management Inc. grew its holdings in Centene by 9.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 897,930 shares of the company’s stock valued at $110,634,000 after buying an additional 74,746 shares during the period. Hedge funds and other institutional investors own 90.07% of the company’s stock.
Several research firms have commented on CNC. Credit Suisse Group lifted their price target on Centene from $134.00 to $152.00 and gave the company a “neutral” rating in a report on Tuesday, September 4th. Morgan Stanley lifted their price target on Centene from $138.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, September 5th. Zacks Investment Research cut Centene from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. Barclays began coverage on Centene in a report on Monday, July 23rd. They issued an “overweight” rating and a $158.00 price target for the company. Finally, Citigroup restated a “neutral” rating and issued a $147.00 price target on shares of Centene in a report on Wednesday, July 18th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Centene presently has an average rating of “Buy” and a consensus target price of $144.38.
NYSE CNC opened at $145.24 on Friday. The stock has a market capitalization of $29.61 billion, a PE ratio of 28.87, a PEG ratio of 1.39 and a beta of 0.85. Centene Corp has a 1-year low of $83.56 and a 1-year high of $148.24. The company has a current ratio of 1.25, a quick ratio of 1.26 and a debt-to-equity ratio of 0.59.
Centene (NYSE:CNC) last released its quarterly earnings data on Tuesday, July 24th. The company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.03. The business had revenue of $14.18 billion for the quarter, compared to analyst estimates of $13.82 billion. Centene had a return on equity of 14.57% and a net margin of 2.06%. The company’s revenue was up 18.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.59 EPS. sell-side analysts expect that Centene Corp will post 7.08 EPS for the current fiscal year.
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. It operates through two segments, Managed Care and Specialty Services. The Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term care, foster care, and dual eligible individual, as well as aged, blind, or disabled programs.
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