Wasatch Advisors LP Has $1.95 Million Position in Centene Corporation $CNC

Wasatch Advisors LP raised its position in Centene Corporation (NYSE:CNC) by 38.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 59,500 shares of the company’s stock after buying an additional 16,500 shares during the period. Wasatch Advisors LP’s holdings in Centene were worth $1,948,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CNC. Poehling Capital Management INC. increased its stake in shares of Centene by 0.5% in the first quarter. Poehling Capital Management INC. now owns 97,055 shares of the company’s stock valued at $3,178,000 after buying an additional 457 shares during the period. Louisiana State Employees Retirement System acquired a new stake in Centene during the 1st quarter worth approximately $779,000. MBM Wealth Consultants LLC bought a new stake in Centene during the 1st quarter worth approximately $122,000. Blue Trust Inc. increased its position in Centene by 22.0% in the 1st quarter. Blue Trust Inc. now owns 10,231 shares of the company’s stock valued at $335,000 after acquiring an additional 1,842 shares during the period. Finally, Fifth Third Wealth Advisors LLC raised its stake in shares of Centene by 24.9% during the first quarter. Fifth Third Wealth Advisors LLC now owns 7,233 shares of the company’s stock valued at $237,000 after acquiring an additional 1,443 shares during the last quarter. 93.63% of the stock is currently owned by institutional investors.

Centene Price Performance

Shares of NYSE CNC opened at $65.69 on Friday. The firm has a market capitalization of $32.44 billion, a P/E ratio of -5.00, a P/E/G ratio of 0.51 and a beta of 1.09. The firm’s 50-day moving average price is $56.67 and its 200-day moving average price is $45.99. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.76. Centene Corporation has a 1-year low of $25.08 and a 1-year high of $66.55.

Centene (NYSE:CNC) last issued its earnings results on Tuesday, April 28th. The company reported $3.37 EPS for the quarter, beating the consensus estimate of $2.23 by $1.14. Centene had a positive return on equity of 5.57% and a negative net margin of 3.25%.The company had revenue of $49.94 billion during the quarter, compared to the consensus estimate of $47.53 billion. During the same period last year, the business posted $2.90 EPS. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. Equities research analysts anticipate that Centene Corporation will post 3.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on CNC shares. Weiss Ratings reissued a “sell (d)” rating on shares of Centene in a research note on Monday, April 20th. Jefferies Financial Group raised their target price on Centene from $39.00 to $48.00 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft upgraded Centene from a “hold” rating to a “buy” rating and upped their price target for the company from $53.00 to $80.00 in a research report on Wednesday, May 20th. Raymond James Financial set a $60.00 price target on Centene in a research note on Wednesday, April 29th. Finally, Mizuho set a $63.00 target price on shares of Centene and gave the company a “neutral” rating in a research report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $60.78.

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.