denkapparat Operations GmbH Acquires 6,810 Shares of Centene Corporation $CNC

denkapparat Operations GmbH increased its holdings in shares of Centene Corporation (NYSE:CNC) by 86.2% during the second quarter, HoldingsChannel reports. The firm owned 14,710 shares of the company’s stock after buying an additional 6,810 shares during the period. denkapparat Operations GmbH’s holdings in Centene were worth $798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. Invesco Ltd. raised its position in Centene by 5.1% in the 1st quarter. Invesco Ltd. now owns 11,091,964 shares of the company’s stock worth $673,393,000 after buying an additional 536,508 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Centene by 42.7% in the first quarter. AQR Capital Management LLC now owns 11,049,494 shares of the company’s stock worth $669,820,000 after acquiring an additional 3,306,796 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Centene by 3.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,810,489 shares of the company’s stock valued at $292,045,000 after purchasing an additional 143,573 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Centene by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 4,433,451 shares of the company’s stock valued at $269,134,000 after purchasing an additional 28,462 shares during the period. Finally, LSV Asset Management boosted its holdings in Centene by 23.7% in the first quarter. LSV Asset Management now owns 4,055,764 shares of the company’s stock worth $246,225,000 after purchasing an additional 776,331 shares during the last quarter. 93.63% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CNC shares. Cantor Fitzgerald boosted their target price on shares of Centene from $38.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. JPMorgan Chase & Co. increased their target price on Centene from $30.00 to $38.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. TD Cowen boosted their price target on Centene from $30.00 to $34.00 and gave the company a “hold” rating in a research note on Friday, October 31st. Truist Financial reissued a “buy” rating and issued a $45.00 price objective (up previously from $42.00) on shares of Centene in a report on Thursday, October 30th. Finally, Robert W. Baird reduced their target price on shares of Centene from $68.00 to $28.00 and set a “neutral” rating for the company in a report on Friday, July 25th. Three analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Centene currently has an average rating of “Hold” and an average price target of $39.82.

Centene Stock Up 3.4%

Shares of CNC stock opened at $35.40 on Wednesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.08 and a quick ratio of 1.10. Centene Corporation has a one year low of $25.08 and a one year high of $66.81. The company’s fifty day moving average price is $34.55 and its 200-day moving average price is $40.25. The company has a market capitalization of $17.40 billion, a price-to-earnings ratio of -3.27, a PEG ratio of 1.24 and a beta of 0.49.

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

Centene Company 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.