Visionary Wealth Advisors Reduces Position in Centene Co. (NYSE:CNC)

Visionary Wealth Advisors trimmed its stake in Centene Co. (NYSE:CNC) by 41.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,173 shares of the company’s stock after selling 10,866 shares during the period. Visionary Wealth Advisors’ holdings in Centene were worth $919,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Capital Advisors Ltd. LLC increased its position in Centene by 75.3% in the fourth quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company’s stock worth $25,000 after buying an additional 177 shares in the last quarter. Hurley Capital LLC purchased a new stake in Centene in the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC purchased a new stake in Centene in the 4th quarter worth approximately $30,000. Studio Investment Management LLC purchased a new position in Centene during the fourth quarter valued at approximately $32,000. Finally, OFI Invest Asset Management bought a new position in shares of Centene in the fourth quarter worth approximately $33,000. 93.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CNC shares. Barclays lowered their target price on shares of Centene from $93.00 to $84.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. Guggenheim reiterated a “neutral” rating on shares of Centene in a report on Tuesday, April 29th. Wells Fargo & Company dropped their price objective on shares of Centene from $76.00 to $72.00 and set an “overweight” rating for the company in a report on Friday, February 14th. StockNews.com cut Centene from a “strong-buy” rating to a “buy” rating in a report on Monday, April 28th. Finally, Argus cut shares of Centene from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $79.77.

Centene Trading Up 0.6%

CNC opened at $61.89 on Wednesday. Centene Co. has a one year low of $55.03 and a one year high of $80.59. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.10 and a current ratio of 1.11. The stock has a market cap of $30.80 billion, a price-to-earnings ratio of 9.92, a P/E/G ratio of 0.80 and a beta of 0.48. The stock’s 50 day moving average price is $60.80 and its 200-day moving average price is $60.44.

Centene (NYSE:CNC) last announced its quarterly earnings data on Friday, April 25th. The company reported $2.90 EPS for the quarter, beating the consensus estimate of $2.52 by $0.38. Centene had a return on equity of 13.85% and a net margin of 2.03%. The company had revenue of $46.62 billion for the quarter, compared to the consensus estimate of $43.16 billion. During the same quarter in the prior year, the company posted $2.26 EPS. Centene’s quarterly revenue was up 15.4% on a year-over-year basis. On average, equities analysts forecast that Centene Co. will post 6.86 EPS for the current year.

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.