Ieq Capital LLC Has $90.67 Million Position in Centene Corporation $CNC

Ieq Capital LLC boosted its stake in shares of Centene Corporation (NYSE:CNC) by 152.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,203,313 shares of the company’s stock after buying an additional 1,331,154 shares during the quarter. Ieq Capital LLC’s holdings in Centene were worth $90,666,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Addison Advisors LLC lifted its holdings in Centene by 455.6% during the 3rd quarter. Addison Advisors LLC now owns 739 shares of the company’s stock worth $26,000 after buying an additional 606 shares during the period. IFC & Insurance Marketing Inc. acquired a new position in shares of Centene in the 4th quarter valued at about $28,000. SBI Securities Co. Ltd. lifted its stake in shares of Centene by 118.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 749 shares of the company’s stock valued at $31,000 after purchasing an additional 406 shares during the period. Ameriflex Group Inc. lifted its stake in shares of Centene by 152.5% in the 3rd quarter. Ameriflex Group Inc. now owns 1,010 shares of the company’s stock valued at $36,000 after purchasing an additional 610 shares during the period. Finally, GoalVest Advisory LLC acquired a new position in shares of Centene in the 4th quarter valued at about $37,000. 93.63% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CNC shares. Oppenheimer boosted their price objective on Centene from $58.00 to $67.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Weiss Ratings reissued a “sell (d)” rating on shares of Centene in a research note on Monday, April 20th. Bank of America boosted their price objective on Centene from $72.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Morgan Stanley boosted their price objective on Centene from $50.00 to $57.00 and gave the company an “equal weight” rating in a research note on Thursday, June 4th. Finally, Wall Street Zen raised Centene from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $60.24.

Centene Stock Performance

Shares of Centene stock opened at $65.18 on Friday. The company has a market cap of $32.18 billion, a PE ratio of -4.96, a price-to-earnings-growth ratio of 0.50 and a beta of 1.09. Centene Corporation has a 52 week low of $25.08 and a 52 week high of $66.55. The business has a 50 day moving average price of $51.43 and a 200-day moving average price of $44.32. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.76.

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

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.