Meeder Advisory Services Inc. Invests $587,000 in Centene Corporation $CNC

Meeder Advisory Services Inc. bought a new stake in Centene Corporation (NYSE:CNC) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 9,143 shares of the company’s stock, valued at approximately $587,000.

Several other hedge funds also recently modified their holdings of CNC. Deutsche Bank AG bought a new position in Centene during the second quarter valued at about $257,279,000. Chicago Partners Investment Group LLC lifted its position in shares of Centene by 114.1% in the 4th quarter. Chicago Partners Investment Group LLC now owns 45,798 shares of the company’s stock worth $1,885,000 after acquiring an additional 24,411 shares during the period. Focus Partners Advisor Solutions LLC acquired a new stake in shares of Centene during the 2nd quarter worth approximately $4,514,000. GSA Capital Partners LLP bought a new stake in shares of Centene during the second quarter valued at approximately $2,134,000. Finally, Citizens Financial Group Inc. RI bought a new position in Centene in the second quarter worth $1,565,000. 93.63% of the stock is owned by institutional investors.

Insider Activity at Centene

In other news, General Counsel Christopher Koster sold 47,603 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $65.36, for a total value of $3,111,332.08. Following the completion of the sale, the general counsel directly owned 305,354 shares in the company, valued at approximately $19,957,937.44. This trade represents a 13.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.37% of the company’s stock.

Analyst Ratings Changes

CNC has been the topic of several analyst reports. Bank of America boosted their price target on shares of Centene from $72.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Truist Financial lifted their target price on shares of Centene from $71.00 to $78.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Wall Street Zen raised shares of Centene from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 18th. Deutsche Bank Aktiengesellschaft upgraded shares of Centene from a “hold” rating to a “buy” rating and raised their price target for the stock from $53.00 to $80.00 in a research note on Wednesday, May 20th. Finally, The Goldman Sachs Group reiterated a “sell” rating and issued a $40.00 price objective on shares of Centene in a research note on Wednesday, April 29th. One equities research 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 assigned a Sell rating to the stock. According to data from MarketBeat, Centene has an average rating of “Hold” and an average price target of $70.05.

Centene Price Performance

Shares of Centene stock opened at $64.24 on Friday. The stock has a market capitalization of $31.73 billion, a price-to-earnings ratio of -6.15, a P/E/G ratio of 0.35 and a beta of 1.08. The firm’s 50-day moving average price is $64.96 and its two-hundred day moving average price is $52.31. 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 Corporation has a 1-year low of $28.24 and a 1-year high of $69.36.

Centene (NYSE:CNC) last announced its earnings results on Monday, July 27th. The company reported $2.51 EPS for the quarter, topping the consensus estimate of $1.09 by $1.42. The business had revenue of $53.58 billion for 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 revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.16) EPS. On average, equities analysts predict that Centene Corporation will post 4.89 earnings per share 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.