Swiss National Bank Acquires 77,900 Shares of Centene Corporation $CNC

Swiss National Bank increased its holdings in Centene Corporation (NYSE:CNC) by 5.5% during the second quarter, Holdings Channel reports. The firm owned 1,501,724 shares of the company’s stock after acquiring an additional 77,900 shares during the quarter. Swiss National Bank’s holdings in Centene were worth $81,514,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Quarry LP bought a new position in shares of Centene during the first quarter worth $26,000. Assetmark Inc. boosted its holdings in shares of Centene by 248.2% during the 2nd quarter. Assetmark Inc. now owns 1,156 shares of the company’s stock valued at $63,000 after purchasing an additional 824 shares during the last quarter. GHP Investment Advisors Inc. grew its position in shares of Centene by 265.8% during the second quarter. GHP Investment Advisors Inc. now owns 1,178 shares of the company’s stock valued at $64,000 after purchasing an additional 856 shares in the last quarter. Atlantic Union Bankshares Corp bought a new stake in shares of Centene in the second quarter worth about $76,000. Finally, Trust Co. of Toledo NA OH bought a new position in Centene during the second quarter valued at approximately $77,000. Institutional investors own 93.63% of the company’s stock.

Centene Price Performance

Shares of CNC stock opened at $36.45 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.08 and a quick ratio of 1.10. The company’s 50-day simple moving average is $35.43 and its two-hundred day simple moving average is $39.07. The company has a market capitalization of $17.92 billion, a P/E ratio of -3.37, a P/E/G ratio of 1.24 and a beta of 0.49. Centene Corporation has a one year low of $25.08 and a one year high of $66.81.

Centene (NYSE:CNC) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.71. Centene had a positive return on equity of 7.82% and a negative net margin of 2.85%.The business had revenue of $49.69 billion for the quarter, compared to the consensus estimate of $47.50 billion. During the same quarter in the prior year, the company earned $1.62 EPS. The business’s revenue was up 18.2% compared to the same quarter last year. As a group, equities analysts anticipate that Centene Corporation will post 6.86 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CNC. Truist Financial reiterated a “buy” rating and set a $45.00 target price (up from $42.00) on shares of Centene in a research report on Thursday, October 30th. Barclays set a $44.00 target price on shares of Centene and gave the stock an “equal weight” rating in a report on Tuesday, November 4th. Wells Fargo & Company reduced their price objective on Centene from $41.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 12th. JPMorgan Chase & Co. raised their price objective on Centene from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. Finally, Zacks Research raised Centene from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 29th. Three analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Centene has a consensus rating of “Hold” and a consensus target price of $40.00.

About Centene

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children’s health insurance program, foster care, medicare-medicaid plans, long-term services and support.