Polianta Ltd Grows Holdings in Centene Corporation $CNC

Polianta Ltd raised its position in Centene Corporation (NYSE:CNC) by 110.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 48,600 shares of the company’s stock after purchasing an additional 25,500 shares during the period. Centene accounts for 0.7% of Polianta Ltd’s holdings, making the stock its 16th biggest position. Polianta Ltd’s holdings in Centene were worth $1,734,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Quarry LP purchased a new stake in shares of Centene during the 1st quarter valued at $26,000. Assetmark Inc. raised its position in Centene by 248.2% in the second quarter. Assetmark Inc. now owns 1,156 shares of the company’s stock worth $63,000 after acquiring an additional 824 shares during the period. GHP Investment Advisors Inc. boosted its stake in Centene by 265.8% in the second 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 last quarter. Atlantic Union Bankshares Corp bought a new position in shares of Centene during the 2nd quarter valued at approximately $76,000. Finally, Intact Investment Management Inc. purchased a new stake in shares of Centene during the 2nd quarter worth approximately $76,000. 93.63% of the stock is owned by hedge funds and other institutional investors.

Centene Stock Performance

Centene stock opened at $39.89 on Friday. The firm’s 50 day simple moving average is $37.35 and its 200 day simple moving average is $35.97. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.83. Centene Corporation has a 1-year low of $25.08 and a 1-year high of $66.81. The firm has a market capitalization of $19.61 billion, a PE ratio of -3.69, a price-to-earnings-growth ratio of 1.33 and a beta of 0.48.

Centene (NYSE:CNC) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $0.50 earnings per share (EPS) 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 company had revenue of $49.69 billion for the quarter, compared to the consensus estimate of $47.50 billion. During the same quarter last year, the business posted $1.62 earnings per share. The firm’s revenue was up 18.2% compared to the same quarter last year. As a group, analysts expect that Centene Corporation will post 6.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CNC. Wells Fargo & Company reduced their price objective on Centene from $41.00 to $35.00 and set an “equal weight” rating for the company in a report on Wednesday, November 12th. Cantor Fitzgerald upped their price target on Centene from $38.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Truist Financial restated a “buy” rating and issued a $45.00 price objective (up from $42.00) on shares of Centene in a research note on Thursday, October 30th. Barclays set a $44.00 price target on shares of Centene and gave the company an “equal weight” rating in a research report on Tuesday, November 4th. Finally, The Goldman Sachs Group reissued a “sell” rating and set a $38.00 target price (up previously from $33.00) on shares of Centene in a report on Thursday, October 30th. Three investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Centene presently has a consensus rating of “Hold” and a consensus target price of $38.44.

Centene Profile

Centene Corporation (NYSE: CNC) is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children’s Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.

Centene’s offerings extend beyond traditional insurance to include a range of specialty and support services.