OP Asset Management Ltd Buys Shares of 48,939 Centene Corporation $CNC

OP Asset Management Ltd purchased a new position in Centene Corporation (NYSE:CNC) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 48,939 shares of the company’s stock, valued at approximately $1,602,000.

A number of other hedge funds have also recently modified their holdings of the business. Kestra Advisory Services LLC raised its holdings in Centene by 0.5% in the 4th quarter. Kestra Advisory Services LLC now owns 52,602 shares of the company’s stock worth $2,165,000 after purchasing an additional 264 shares during the period. Arkadios Wealth Advisors increased its position in Centene by 4.2% in the fourth quarter. Arkadios Wealth Advisors now owns 7,465 shares of the company’s stock worth $307,000 after buying an additional 300 shares in the last quarter. Affinity Investment Advisors LLC increased its position in Centene by 3.0% in the fourth quarter. Affinity Investment Advisors LLC now owns 10,927 shares of the company’s stock worth $450,000 after buying an additional 316 shares in the last quarter. Prime Capital Investment Advisors LLC raised its stake in shares of Centene by 5.7% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 5,975 shares of the company’s stock worth $246,000 after buying an additional 324 shares during the period. Finally, AdvisorNet Financial Inc lifted its position in shares of Centene by 5.5% during the 1st quarter. AdvisorNet Financial Inc now owns 6,308 shares of the company’s stock valued at $207,000 after buying an additional 330 shares in the last quarter. Institutional investors own 93.63% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CNC shares. Robert W. Baird increased their target price on shares of Centene from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Wednesday, April 15th. Morgan Stanley lifted their price target on shares of Centene from $50.00 to $57.00 and gave the company an “equal weight” rating in a report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft raised shares of Centene from a “hold” rating to a “buy” rating and increased their price objective for the stock from $53.00 to $80.00 in a research note on Wednesday, May 20th. Royal Bank Of Canada initiated coverage on shares of Centene in a research report on Tuesday, June 23rd. They set a “sector perform” rating and a $70.00 price objective on the stock. Finally, Jefferies Financial Group upped their target price on shares of Centene from $39.00 to $48.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $60.78.

Centene Trading Down 0.1%

CNC stock opened at $65.69 on Monday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.12 and a quick ratio of 1.12. Centene Corporation has a 1-year low of $25.08 and a 1-year high of $66.55. The business has a 50 day simple moving average of $56.67 and a two-hundred day simple moving average of $46.05. The company has a market capitalization of $32.44 billion, a price-to-earnings ratio of -5.00, a PEG ratio of 0.51 and a beta of 1.09.

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