Timothy G. Youngquist 2020 Irrevocable Trust Makes New $959,000 Investment in Centene Corporation $CNC

Timothy G. Youngquist 2020 Irrevocable Trust bought a new stake in shares of Centene Corporation (NYSE:CNC) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 14,934 shares of the company’s stock, valued at approximately $959,000.

Several other hedge funds have also made changes to their positions in CNC. Baird Financial Group Inc. acquired a new position in Centene during the 1st quarter valued at approximately $236,000. Sivia Capital Partners LLC increased its position in Centene by 80.0% in the second quarter. Sivia Capital Partners LLC now owns 9,710 shares of the company’s stock worth $527,000 after buying an additional 4,315 shares during the period. CW Advisors LLC lifted its stake in Centene by 20.3% in the second quarter. CW Advisors LLC now owns 4,863 shares of the company’s stock valued at $264,000 after buying an additional 820 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Centene by 6.1% during the second quarter. NewEdge Advisors LLC now owns 44,945 shares of the company’s stock valued at $2,440,000 after acquiring an additional 2,582 shares during the period. Finally, Treasurer of the State of North Carolina grew its position in shares of Centene by 0.4% during 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 acquiring an additional 967 shares during the last quarter. Institutional investors own 93.63% of the company’s stock.

Centene Stock Up 1.4%

Centene stock opened at $65.29 on Wednesday. The company’s 50-day moving average price is $64.96 and its two-hundred day moving average price is $52.01. The stock has a market cap of $32.25 billion, a price-to-earnings ratio of -6.25, a PEG ratio of 0.36 and a beta of 1.08. Centene Corporation has a 52 week low of $28.24 and a 52 week high of $69.36. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.71.

Centene (NYSE:CNC) last posted its quarterly earnings data on Monday, July 27th. The company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $1.42. Centene had a negative net margin of 2.51% and a positive return on equity of 12.12%. The business had revenue of $53.58 billion for the quarter, compared to analyst estimates of $47.64 billion. During the same quarter last year, the business earned ($0.16) earnings per share. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, analysts expect that Centene Corporation will post 4.89 EPS for the current fiscal year.

Analysts Set New Price Targets

CNC has been the topic of several recent research reports. Mizuho set a $63.00 price objective on shares of Centene and gave the company a “neutral” rating in a research report on Monday, June 8th. UBS Group set a $79.00 price target on shares of Centene in a research note on Tuesday. Robert W. Baird boosted their price objective on Centene from $46.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Royal Bank Of Canada increased their price objective on Centene from $70.00 to $71.00 and gave the stock a “sector perform” rating in a report on Thursday, July 9th. Finally, Wells Fargo & Company set a $69.00 target price on Centene and gave the company an “equal weight” rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $70.05.

About Centene

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.