California State Teachers Retirement System Has $50.48 Million Stake in Centene Co. (NYSE:CNC)

California State Teachers Retirement System decreased its position in Centene Co. (NYSE:CNC) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 833,282 shares of the company’s stock after selling 5,185 shares during the period. California State Teachers Retirement System owned 0.17% of Centene worth $50,480,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CNC. Ameriflex Group Inc. acquired a new stake in Centene during the 4th quarter worth $26,000. Pinney & Scofield Inc. bought a new position in shares of Centene in the 4th quarter worth $25,000. Capital Advisors Ltd. LLC grew its stake in shares of Centene by 75.3% during the fourth quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company’s stock worth $25,000 after purchasing an additional 177 shares during the period. Hurley Capital LLC bought a new stake in Centene in the fourth quarter valued at about $26,000. Finally, Rialto Wealth Management LLC acquired a new position in Centene in the fourth quarter valued at about $30,000. Institutional investors own 93.63% of the company’s stock.

Analysts Set New Price Targets

CNC has been the topic of a number of analyst reports. Jefferies Financial Group cut their price target on shares of Centene from $64.00 to $61.00 and set a “hold” rating on the stock in a research report on Tuesday, April 29th. Argus cut shares of Centene from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Wells Fargo & Company reduced their target price on Centene from $76.00 to $72.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Wall Street Zen lowered Centene from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 28th. Finally, Barclays decreased their price objective on Centene from $93.00 to $84.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $79.77.

Centene Stock Performance

CNC opened at $57.68 on Wednesday. The business has a 50 day moving average of $60.67 and a 200-day moving average of $60.27. Centene Co. has a 12-month low of $55.03 and a 12-month high of $80.59. The stock has a market cap of $28.70 billion, a price-to-earnings ratio of 9.24, a PEG ratio of 0.80 and a beta of 0.48. The company has a quick ratio of 1.10, a current ratio of 1.11 and a debt-to-equity ratio of 0.70.

Centene (NYSE:CNC) last issued its quarterly earnings data on Friday, April 25th. The company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.38. The firm had revenue of $46.62 billion during the quarter, compared to the consensus estimate of $43.16 billion. Centene had a net margin of 2.03% and a return on equity of 13.85%. The business’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period last year, the business posted $2.26 earnings per share. On average, equities research analysts expect that Centene Co. will post 6.86 earnings per share for the current year.

Centene Profile

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.