denkapparat Operations GmbH Invests $619,000 in Centene Corporation $CNC

denkapparat Operations GmbH purchased a new stake in Centene Corporation (NYSE:CNC) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 9,650 shares of the company’s stock, valued at approximately $619,000.

A number of other hedge funds have also bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Centene during the 2nd quarter worth approximately $2,660,422,000. AQR Capital Management LLC grew its position in Centene by 117.0% during the fourth quarter. AQR Capital Management LLC now owns 31,798,738 shares of the company’s stock worth $1,308,518,000 after buying an additional 17,143,904 shares in the last quarter. Wellington Management Group LLP raised its holdings in Centene by 423.0% in the 2nd quarter. Wellington Management Group LLP now owns 13,301,215 shares of the company’s stock valued at $853,805,000 after acquiring an additional 10,757,914 shares in the last quarter. Norges Bank bought a new stake in shares of Centene during the 4th quarter valued at $332,044,000. Finally, Deerfield Management Company L.P. grew its holdings in shares of Centene by 184.0% during the 3rd quarter. Deerfield Management Company L.P. now owns 9,046,000 shares of the company’s stock worth $322,761,000 after purchasing an additional 5,860,630 shares in the last quarter. 93.63% of the stock is owned by institutional investors.

Centene Trading Down 1.6%

Shares of CNC stock opened at $66.92 on Friday. The firm has a market cap of $33.06 billion, a P/E ratio of -6.41, a price-to-earnings-growth ratio of 0.43 and a beta of 1.10. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.71. Centene Corporation has a 12-month low of $28.24 and a 12-month high of $69.36. The business has a 50-day moving average price of $65.56 and a two-hundred day moving average price of $54.18.

Centene (NYSE:CNC) last released its earnings results on Monday, July 27th. The company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $1.42. The company had revenue of $53.58 billion during the quarter, compared to the consensus estimate of $47.64 billion. Centene had a positive return on equity of 12.12% and a negative net margin of 2.51%.Centene’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.16) EPS. Equities analysts anticipate that Centene Corporation will post 4.89 EPS for the current fiscal year.

Insider Buying and Selling at Centene

In related news, General Counsel Christopher Koster sold 56,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $66.90, for a total value of $3,779,850.00. Following the sale, the general counsel owned 248,854 shares in the company, valued at $16,648,332.60. This represents a 18.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.37% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CNC has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of Centene in a research report on Friday, July 17th. Sanford C. Bernstein restated an “outperform” rating and set a $79.00 price objective (up from $68.00) on shares of Centene in a research report on Monday, August 3rd. Oppenheimer upped their target price on Centene from $58.00 to $67.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. UBS Group set a $79.00 price target on shares of Centene in a report on Tuesday, August 18th. Finally, Robert W. Baird increased their price objective on shares of Centene from $46.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Centene has a consensus rating of “Hold” and an average target price of $70.05.

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.