True Wealth Design LLC Sells 2,344 Shares of Centene Corporation $CNC

True Wealth Design LLC trimmed its stake in shares of Centene Corporation (NYSE:CNC) by 77.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 668 shares of the company’s stock after selling 2,344 shares during the quarter. True Wealth Design LLC’s holdings in Centene were worth $36,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Quadcap Wealth Management LLC boosted its stake in shares of Centene by 3.2% during the first quarter. Quadcap Wealth Management LLC now owns 5,617 shares of the company’s stock valued at $341,000 after purchasing an additional 172 shares during the period. Carnegie Investment Counsel raised its holdings in Centene by 6.0% during the 1st quarter. Carnegie Investment Counsel now owns 3,811 shares of the company’s stock valued at $234,000 after buying an additional 215 shares during the last quarter. Allworth Financial LP boosted its position in Centene by 6.1% during the 1st quarter. Allworth Financial LP now owns 4,387 shares of the company’s stock valued at $270,000 after buying an additional 254 shares during the period. Grove Bank & Trust increased its position in shares of Centene by 2.8% in the second quarter. Grove Bank & Trust now owns 11,632 shares of the company’s stock valued at $631,000 after acquiring an additional 313 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in shares of Centene by 5.1% during the second quarter. Farther Finance Advisors LLC now owns 6,658 shares of the company’s stock valued at $361,000 after acquiring an additional 325 shares during the last quarter. Institutional investors own 93.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CNC. Wells Fargo & Company set a $41.00 target price on Centene and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. Barclays set a $44.00 price objective on Centene and gave the stock an “equal weight” rating in a report on Tuesday. Mizuho boosted their target price on Centene from $28.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. Morgan Stanley raised their price target on Centene from $28.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 14th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Centene from $24.00 to $32.00 in a report on Friday, October 31st. Three investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $39.82.

Centene Trading Up 1.1%

CNC opened at $37.49 on Friday. The stock has a market cap of $18.43 billion, a PE ratio of -3.46, a PEG ratio of 1.24 and a beta of 0.49. The business has a 50 day moving average of $34.33 and a 200-day moving average of $40.75. Centene Corporation has a 52 week low of $25.08 and a 52 week high of $66.81. The company has a quick ratio of 1.10, a current ratio of 1.08 and a debt-to-equity ratio of 0.83.

Centene (NYSE:CNC) last posted 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 business 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 company earned $1.62 earnings per share. The firm’s quarterly revenue was up 18.2% compared to the same quarter last year. Equities research analysts predict that Centene Corporation will post 6.86 earnings per share for the current fiscal 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.