Investment House LLC Acquires Shares of 50,400 Centene Corporation $CNC

Investment House LLC acquired a new position in shares of Centene Corporation (NYSE:CNC) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 50,400 shares of the company’s stock, valued at approximately $1,798,000.

A number of other hedge funds have also made changes to their positions in the stock. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Centene in the third quarter valued at $27,000. WPG Advisers LLC increased its position in shares of Centene by 44.5% in the 3rd quarter. WPG Advisers LLC now owns 915 shares of the company’s stock worth $33,000 after purchasing an additional 282 shares during the last quarter. Bogart Wealth LLC raised its stake in shares of Centene by 11,011.1% in the 3rd quarter. Bogart Wealth LLC now owns 1,000 shares of the company’s stock valued at $36,000 after purchasing an additional 991 shares in the last quarter. Financial Network Wealth Advisors LLC lifted its position in shares of Centene by 54.9% during the third quarter. Financial Network Wealth Advisors LLC now owns 1,100 shares of the company’s stock worth $39,000 after purchasing an additional 390 shares during the last quarter. Finally, Quent Capital LLC bought a new stake in Centene in the third quarter valued at about $45,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Stock Performance

Shares of CNC opened at $46.07 on Friday. The firm has a fifty day moving average of $41.15 and a 200-day moving average of $35.10. The company has a market cap of $22.65 billion, a price-to-earnings ratio of -4.26, a price-to-earnings-growth ratio of 1.05 and a beta of 0.48. 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 1 year low of $25.08 and a 1 year high of $66.81.

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

Analyst Upgrades and Downgrades

CNC has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on Centene from $24.00 to $32.00 in a report on Friday, October 31st. Truist Financial lifted their price objective on shares of Centene from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Monday, January 5th. Mizuho set a $47.00 target price on shares of Centene in a research note on Friday, January 9th. Morgan Stanley raised their price target on shares of Centene from $28.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 14th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $59.00 price objective on shares of Centene in a research report on Tuesday, January 6th. Three investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $40.81.

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.