MASTERINVEST Kapitalanlage GmbH Makes New $2.05 Million Investment in Centene Corporation $CNC

MASTERINVEST Kapitalanlage GmbH purchased a new stake in Centene Corporation (NYSE:CNC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 37,796 shares of the company’s stock, valued at approximately $2,052,000.

Other institutional investors have also made changes to their positions in the company. Quarry LP acquired a new position in Centene in the first quarter valued at about $26,000. Assetmark Inc. increased its stake in shares of Centene by 248.2% in the 2nd quarter. Assetmark Inc. now owns 1,156 shares of the company’s stock valued at $63,000 after acquiring an additional 824 shares during the last quarter. GHP Investment Advisors Inc. raised its position in shares of Centene by 265.8% in the 2nd quarter. GHP Investment Advisors Inc. now owns 1,178 shares of the company’s stock valued at $64,000 after acquiring an additional 856 shares during the period. Atlantic Union Bankshares Corp bought a new position in Centene during the 2nd quarter worth approximately $76,000. Finally, Intact Investment Management Inc. bought a new stake in Centene in the second quarter valued at approximately $76,000. 93.63% of the stock is owned by institutional investors and hedge funds.

Centene Stock Up 1.0%

Shares of Centene stock opened at $40.85 on Friday. The firm has a market cap of $20.08 billion, a PE ratio of -3.78, a P/E/G ratio of 1.36 and a beta of 0.48. The business’s 50 day simple moving average is $36.88 and its 200 day simple moving average is $36.84. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.08 and a current ratio of 1.08. Centene Corporation has a 52-week low of $25.08 and a 52-week high of $66.81.

Centene (NYSE:CNC) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.71. Centene had a positive return on equity of 7.82% and a negative net margin of 2.85%.The firm had revenue of $49.69 billion during the quarter, compared to the consensus estimate of $47.50 billion. During the same quarter in the prior year, the firm posted $1.62 EPS. The business’s revenue was up 18.2% on a year-over-year basis. On average, analysts predict that Centene Corporation will post 6.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CNC. Cantor Fitzgerald lifted their price target on shares of Centene from $38.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. The Goldman Sachs Group reiterated a “sell” rating and set a $38.00 target price (up from $33.00) on shares of Centene in a report on Thursday, October 30th. Morgan Stanley lifted their price objective on Centene from $28.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, October 14th. UBS Group set a $42.00 price objective on Centene and gave the company a “neutral” rating in a research report on Thursday, October 30th. Finally, Truist Financial restated a “buy” rating and set a $45.00 target price (up from $42.00) on shares of Centene in a report on Thursday, October 30th. Three research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $38.44.

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.