Flatrock Wealth Partners LLC Purchases New Position in Centene Corporation $CNC

Flatrock Wealth Partners LLC acquired a new position in Centene Corporation (NYSE:CNC) in the 1st quarter, HoldingsChannel reports. The firm acquired 7,911 shares of the company’s stock, valued at approximately $259,000.

Several other hedge funds have also recently made changes to their positions in CNC. Baird Financial Group Inc. bought a new stake in Centene in the first quarter valued at $236,000. Sivia Capital Partners LLC lifted its position in shares of Centene by 80.0% in the 2nd quarter. Sivia Capital Partners LLC now owns 9,710 shares of the company’s stock worth $527,000 after purchasing an additional 4,315 shares during the period. CW Advisors LLC boosted its stake in shares of Centene by 20.3% during the 2nd quarter. CW Advisors LLC now owns 4,863 shares of the company’s stock valued at $264,000 after purchasing an additional 820 shares in the last quarter. NewEdge Advisors LLC raised its stake in Centene by 6.1% in the second quarter. NewEdge Advisors LLC now owns 44,945 shares of the company’s stock worth $2,440,000 after buying an additional 2,582 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in Centene by 0.4% in the second quarter. Treasurer of the State of North Carolina now owns 231,938 shares of the company’s stock worth $12,590,000 after buying an additional 967 shares during the period. 93.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Mizuho set a $63.00 target price on Centene and gave the stock a “neutral” rating in a report on Monday, June 8th. UBS Group restated a “neutral” rating and issued a $61.00 target price (up from $55.00) on shares of Centene in a research note on Friday, May 22nd. JPMorgan Chase & Co. upped their price target on Centene from $52.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, June 8th. Wells Fargo & Company raised their price objective on Centene from $44.00 to $56.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Finally, Cantor Fitzgerald upped their target price on shares of Centene from $60.00 to $75.00 and gave the stock an “overweight” rating in a research report on Tuesday. Seven research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Centene presently has a consensus rating of “Hold” and an average price target of $62.44.

Centene Trading Up 0.1%

NYSE CNC opened at $66.14 on Wednesday. Centene Corporation has a 12 month low of $25.08 and a 12 month high of $69.29. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.76. The stock’s fifty day moving average price is $60.44 and its 200-day moving average price is $47.37. The stock has a market cap of $32.66 billion, a P/E ratio of -5.03, a P/E/G ratio of 0.52 and a beta of 1.07.

Centene (NYSE:CNC) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $1.14. The company had revenue of $49.94 billion for the quarter, compared to analysts’ expectations of $47.53 billion. Centene had a negative net margin of 3.25% and a positive return on equity of 5.57%. Centene’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.90 EPS. As a group, equities analysts forecast that Centene Corporation will post 3.44 EPS for the current fiscal year.

Centene Company 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.