Teachers Retirement System of The State of Kentucky cut its holdings in shares of Centene Co. (NYSE:CNC) by 7.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,080 shares of the company’s stock after selling 3,750 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Centene were worth $2,886,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of CNC. Norges Bank acquired a new position in shares of Centene during the fourth quarter worth approximately $360,572,000. Ruffer LLP lifted its holdings in shares of Centene by 43.2% during the fourth quarter. Ruffer LLP now owns 3,163,502 shares of the company’s stock worth $189,932,000 after buying an additional 954,122 shares during the last quarter. Deerfield Management Company L.P. Series C lifted its holdings in shares of Centene by 106.3% during the third quarter. Deerfield Management Company L.P. Series C now owns 1,828,000 shares of the company’s stock worth $106,627,000 after buying an additional 942,000 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Centene by 2.3% during the fourth quarter. BlackRock Inc. now owns 41,635,227 shares of the company’s stock worth $2,499,362,000 after buying an additional 939,404 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in shares of Centene by 25.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 3,529,705 shares of the company’s stock valued at $211,888,000 after purchasing an additional 720,686 shares in the last quarter. Institutional investors own 91.50% of the company’s stock.
A number of brokerages recently commented on CNC. Mizuho began coverage on Centene in a research note on Monday, March 15th. They issued a “neutral” rating and a $65.00 target price for the company. Jefferies Financial Group lowered Centene from a “buy” rating to a “hold” rating and cut their target price for the company from $75.00 to $72.00 in a research note on Friday, January 15th. The Goldman Sachs Group began coverage on Centene in a research note on Thursday, January 21st. They issued a “neutral” rating for the company. Zacks Investment Research upgraded Centene from a “sell” rating to a “hold” rating and set a $61.00 target price for the company in a research note on Monday, February 22nd. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Centene from $83.00 to $77.00 and set a “buy” rating for the company in a research note on Monday, December 21st. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Centene has an average rating of “Buy” and an average target price of $78.65.
Centene stock opened at $62.61 on Friday. The stock has a fifty day moving average price of $61.86 and a two-hundred day moving average price of $62.35. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market capitalization of $36.41 billion, a P/E ratio of 17.44, a P/E/G ratio of 1.03 and a beta of 0.55. Centene Co. has a 52-week low of $53.60 and a 52-week high of $74.70.
Centene (NYSE:CNC) last announced its earnings results on Monday, February 8th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.01). The business had revenue of $28.29 billion for the quarter, compared to the consensus estimate of $28.44 billion. Centene had a return on equity of 13.45% and a net margin of 2.00%. Centene’s revenue for the quarter was up 50.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.73 EPS. On average, equities research analysts predict that Centene Co. will post 4.99 EPS for the current fiscal year.
Centene Company Profile
Centene Corporation operates as a multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. Its 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 cover dually eligible individuals, as well as aged, blind, or disabled programs.
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